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| GM extends popular 'employee discount' program |
| Bill Pugliano/Getty Images |
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| Ford Motor Co. announced that it is extending its offer to employees and retirees up to $1,000 in cash to entice friends, relatives and neighbors to buy vehicles with employee discounts. |
Detroit / AFP
07/08/2005
General Motors has extended the wildly popular employee discount program that helped its sales accelerate by 41 percent in June.
Rival automakers Ford Motor Company and DaimlerChrysler, which had not matched the discounts in June, are expected to announce new incentive programs shortly.
The world's largest automaker enticed more than 550,000 people to sign on the dotted line at GM dealerships in June with its "you pay what we pay" discount that offered a potential savings of up to 10,000 dollars per vehicle.
The incentive program also helped GM attract 150,000 first-time customers and made June the company's best sales month since September 1986.
Those sales boosted GM's US market share to 32.4 percent, compared with 25.6 percent in June 2004, according to research firm Autodata Corp.
"We were really pleased by the consumer and dealer response to our 'employee discount' program in June," Pete Gerosa, vice president of field sales, service and parts for GM North America, said in a statement.
"Buyers liked the fact that they could easily identify the employee discount price either at their local GM dealer or on our website, and our dealers, who enthusiastically support this program, told us that it drove a lot of new customers into their showrooms."
The "GM Employee Discount for Everyone" applies to all 2005 GM cars and trucks, except for the Chevrolet Corvette, Pontiac GTO and all medium-duty trucks. Originally set to expire Tuesday, the program has been extended through August 1.
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