Archive for Saturday, October 1, 2005

General Motors ends discount program

October 1, 2005

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General Motors Corp., the world's biggest automaker, is ending its popular discount program that let buyers pay the same price its employees pay for vehicles throughout the summer.

The promotion was scheduled to end Friday at the close of business for each dealer, GM spokeswoman Deborah Silverman said.

GM introduced the incentive in June and originally planned to end it in July, but it proved so popular that the company extended it several times. Ford Motor Co. and DaimlerChrysler AG's Chrysler Group matched the program in July. Both automakers plan to end their employee incentives Monday.

Analysts are predicting a sales hangover for U.S. automakers this fall, since the discounts depleted 2005 inventories and accelerated sales to the summer. GM's U.S. sales fell 16 percent in August and are expected to fall even farther in September. Automakers report September sales Monday.

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