GM To Offer Zero-Percent Financing, Raise Prices, Screen Hummer Buyers

Illustration for article titled GM To Offer Zero-Percent Financing, Raise Prices, Screen Hummer Buyers

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.

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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.]

DISCUSSION

petejayhawk
petejayhawk

@POLAЯ free since mid June: No, they just want to make sure that all future Hummer owners are still massive douchebags. They'd hate to dilute their reputation so soon to selling the brand.