After reports of sales crashing throughout the auto industry yesterday, some automakers have responded with incentive programs aimed at luring buyers into showrooms even in a down economy. The Detroit Free Press reports, “General Motors Corp. is offering cash incentives of as much as $4,000 on many 2008 models.” The rebates, which will last until May 21, apply to “models such as the Chevrolet Tahoe SUV and GMC Sierra large pickup.” Most buyers can receive $2,000 cash back on the vehicles, which “can be combined with cash rebates of as much as an additional $2,000 available only to current GM owners.”
As we reported yesterday, Chrysler is continuing 0% APR offers on many models through the month of April.
Even automakers traditionally reluctant to offer deals are getting into the game. CNBC reports, “For years, the Asian Big 3 resisted adding rebates, discounts, etc. But over the last 10 years that has slowly but steadily changed. Sure, some of the most popular models, like the Honda Fit may not have cash on the hood, but plenty of other models are a different story.” For example, shoppers are currently being offered $1,000 cash back on the 2008 Toyota Sienna. The “bottom line,” according to CNBC, is “if you want a deal right now, you can find it.”
A few manufacturers are still holding out. The Detroit News reports, “Ford Motor Co. officials said Wednesday they have not significantly changed their incentives,” despite reporting a double-digit sales drop last month.
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