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A Tale of Two Headlines

Discussion in 'Gen 2 Prius Main Forum' started by Tempus, Aug 3, 2004.

  1. Tempus

    Tempus Senior Member

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  2. efusco

    efusco Moderator Emeritus
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    LOL!! Gotta love spin....

    My CNN article quoted GM making just over $400/vehicle sold and Toyota at over $1500/vehicle sold. Wonder who's winning this race?!
     
  3. LeVautRien

    LeVautRien Member

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    All those incentives are hurting the not-so-big 2 and a half.
     
  4. Tempus

    Tempus Senior Member

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    Speaking of Incentives

    GM announces rebates to reverse losses


    General Motors Tuesday announced some of the highest rebates in industry history -- up to $6,500 -- as it struggles to reverse losses in market share and to clear unsold inventories in preparation for the arrival of 2005 models.

    It is offering up to $6,500 on the Buick Ranier and Rendezvous SUVs and the Buick LeSabre sedan. As much as $6,000 is available on 15 other SUVs and one van. The program varies widely by region as well as by model, and the highest amounts require financing through General Motors Acceptance Corp., the carmaker's lending unit.

    Rebecca Lindland, Massachusetts-based auto analyst for the economic forecasting company Global Insight, said the GMAC caveat is a smart move on GM's part. The GMAC unit earned more in the second quarter, $860 million, than GM earned selling cars.
     
  5. madams

    madams New Member

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    GM is hurting, a guy I know was looking at a vette and the salesperson chopped the price 12K if he'd buy it right then -- he did.
     
  6. daniel

    daniel Cat Lovers Against the Bomb

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    And of course you have to pay income tax on those rebates, even though they're just cutting a bit off the price of the car you are buying. So you pay tax on that money twice!