GM Discounts Lift U.S. Sales as Much as 30%
From Reuters
General Motors Corp.’s “Employee Discount for Everyone” consumer incentive program has given the struggling auto giant a bit of relief in June, boosting its U.S. sales as much as 30%, analysts estimated.
Moving cars at bargain-basement prices is unlikely to bolster GM’s profit, a reason why no major automaker has matched GM’s latest offensive in Detroit’s long-running price war, analysts said.
GM is offering customers the same discount that it offers employees.
The world’s largest automaker has had four straight months of lower sales this year and reported a $1.1-billion loss in the first quarter.