Detroit – General Motors Corp., hurt by declining U.S. sales, is adding bonus cash of as much as $1,500 to its current offers of no-interest loans on many 2006 and 2007 cars and trucks.
The cash program begins today and runs through Sept. 5, spokesman John McDonald said Monday in an interview. The interest-free loans run as long as six years. Detroit-based GM is keeping another cash-rebate program for as much as $6,000 on the Chevrolet Tahoe sport-utility vehicle and other large SUVs.
Sales at GM, the largest U.S. automaker, fell 14 percent through July. Pinched by high gas prices and a weakening housing market, consumers shunned the large pickups and SUVs that make up the bulk of sales for U.S. automakers GM, Ford Motor Co. and DaimlerChrysler AG’s Chrysler.
Ford, whose sales fell 9.7 percent through July, is offering six-year, no-interest loans and eased credit standards through Sept. 5 to clear out 2006 models. Chrysler, whose sales fell 10 percent through July, is giving customers the same discounts usually offered only to employees through Sept. 5.
GM currently offers the bonus cash on top of loans only on its redesigned 2007 Chevrolet and GMC large SUVs.
The new cash offer excludes the Pontiac Solstice and Saturn Sky roadsters, the Chevrolet Corvette, the Saturn Vue hybrid SUV, the Hummer H1 and the 2007 GMC Yukon and Cadillac Escalade SUVs.
