To sell down its remaining 2009 inventory, General Motors Co. is launching an incentive program for each of its four brands that begin November 18. Chevrolet has the "Red Tag Sale," Buick-GMC will go with the "Holiday Event" and Cadillac will have the "Seasons Best" sale.
At a press event, Susan Docherty, GM's vice president of U.S. sales, said that there will be a "little bit of carryover of that" into the first quarter of 2010, but the objective is to keep GM's inventory somewhere between 425,000 to 450,000 units.
Docherty said that she expects GM will clear out the 2009 model year inventory by January. She also says that the Pontiac and Saturn brands will likely be completely winded down by the end of the first quarter, much earlier than expected. Currently, GM has only about 10,000 Pontiac vehicles and 8,000 Saturns remaining.
GM is able to hold its US market share at 19.5 percent. For the month of October, GM sales rose 5 percent compared with October 2008.
GM's retail sales went up 15 percent in October, and fleet sales fell by 27 percent compared to a year earlier. Docherty asserted though that she prefers "very slow, incremental movement up" in market share than the peaks and valleys GM experienced in 2008 and in the first half of 2009. [via autonews]