GM Steps Up SUV Incentives War with Long-Term Zero Percent Loans
General Motors on Dec. 5 said it would offer new interest-free loans on several models of sport utility vehicles, after a plunge in its U.S. market share during November, according to a Reuters report.
GM, stepping up Detroit's long-running prices and incentives battle, said it was adding four-year and five-year zero percent loans on 13 SUVs. GM already offered three-year interest-free loans, but had charged some interest on longer-term deals, Reuters said.
GM also added a $1,000 rebate to a number of car and truck models, in addition to any rebates or interest-rate deals already offered on the vehicles, according to Reuters.
The move comes after GM's market share in November fell to 25.2 percent, thanks in part to aggressive incentives from Ford Motor Co. and DaimlerChrysler, Reuters reported.
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