With sales in the toilet, GM plans to offer 0% financing for up to 72 months starting tomorrow and running through next Monday. The special Hail Mary offer will be valid on approximately 80% of the automaker's unsold inventory, and is a last-ditch effort to show at least passable June sales. And, to ensure GM has to repeat this profit-draining stunt next year, the company will raise the prices for most of its 2009 models by approximately 3.5%. Maybe that ZR1 price gouging was just a sign of things to come? Oh, but there's more.
The murmuring about Hummer being up for sale got credence with the news that Citibank has been retained to conduct a "strategic review" of the brand. Our little birdie has told us that Citibank's real job is to screen potential buyers. [Automotive News Sub. Req.]