Some of General Motors Co.’s 2011 models are now offered with interest-free financing after it raised discounts and incentives to lead all major automakers' U.S. sales gains last month.
AIS Rebates in Ann Arbor, Mich., said that the loans started to become available on Tuesday for 72 months on the Chevrolet Impala sedan, and for 60 months on the Malibu sedan, HHR wagon, Traverse crossover and Silverado, Colorado and Avalanche pickups.
Buyers can also take advantage of the 60-month deal when buying the Buick Enclave and GMC Acadia SUVs and Sierra pickups.
Researcher Autodata Corp. said that GM raised discounts 12% from a year earlier to an estimated $3,732 per vehicle last month -- the most among major automakers and 45% more than the average. Earlier this week, Don Johnson, GM's vice president for U.S. sales, said that the carmaker’s spending on incentives will "moderate" this month.
Jeremy Anwyl, the CEO of Santa Monica, Calif.-based Edmunds, said that GM has been talking about discipline a lot but it has been moving “completely in another direction." Spokesman Tom Henderson said that GM doesn't comment on specific incentive programs.
He said that data from J.D. Power & Associates show that GM still has the highest average transaction prices among mainstream automakers. However, he didn’t provide specific figures. [via autonews - sub. required]