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GM's Wagoner Says Incentives Unlikely To Be Cut

October 1, 2002

General Motors Corp. is unlikely to reduce incentives to car buyers next year, CEO Richard Wagoner said, according to Bloomberg News. "If the economy picks up, obviously, we expect to be able to ease off on incentives. But we frankly don't see that right now," Wagoner said in an interview with Bloomberg Television. He was speaking from Paris. The Detroit-based automaker also won't begin selling vehicles powered by fuel cells, or battery-like devices that use hydrogen as a fuel, for "several more years," Wagoner said, according to Bloomberg News.
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