GM Follows Chrysler with Incentives on 2004 Models
The pricing battle between the domestic automakers heated up and headed into its third year, as General Motors became the latest company to offer financing deals and rebates on new models.
GM was first to offer incentives shortly after the attacks of Sept. 11, 2001. The company announced it would carry over most financing and cash-back deals on 2003-models until Jan. 2, 2004.
GM is also offering zero-percent of low-interest financing and rebates ranging from $500 to $3,000 on a variety of 2004 models just reaching its showrooms. The offers on 2004-model vehicles run through Sept. 30, 2003, following by a day a new round of incentives from the DaimlerChrysler AG Chrysler Group.
According to John Smith, group vice president of GM North America vehicle sales, service and marketing, “Our September program will help us close out the 2003-model year strong, help GM maintain its strong retail performance through the balance of the year, and position us well for 2004.”
On September 2, Chrysler said it will start offering incentives on most of its 2004-model vehicles in an attempt to boost U.S. sales. Chrysler Group domestic sales were down 4.7 percent through July. The company will offer financing deals and cash rebates from $500 to $3,000 on a variety of 2004-model cars, trucks, minivans, and SUVs.