TITLE

GM budgets $300M to sell value

AUTHOR(S)
LaReau, Jamie
PUB. DATE
August 2005
SOURCE
Automotive News;8/15/2005, Vol. 79 Issue 6161, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that General Motors Corp. (GM) will spend about $300 million next year to tout its move to value pricing. The challenge is significant. With its 2006 models, GM is moving from a marketing strategy that touts big incentives to one that focuses on the product. To do so, GM will reduce rebates and try to bring sticker prices closer to transaction prices. Mark LaNeve, GM vice president for North American vehicle sales, service and marketing, declined to comment on GM's spending plans for next year. In a video presentation to 300 dealers this month in Atlanta, LaNeve said GM plans to improve residual values, in part by reducing 2006-model sales to daily rental fleets 120,000 units below the 2005-model figure.
ACCESSION #
18056074

 

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