By Stephen Markley on December 29, 2009
With the fates of Pontiac and Saturn sealed, GM will face the prospect of moving the last vehicles of those brands off lots, and that’s good news for consumers. The automaker will offer extremely nice incentives to put you in a car from one of the discontinued brands.
This could both inflate GM’s December sales and cut the cost of a Pontiac or Saturn vehicle by as much as 46% off the sticker price.
The end-of-brand fire sale was sparked by a Dec. 23 letter sent from GM to its dealers saying it would pay them $7,000 for every new Saturn or Pontiac that is moved to rental-vehicle or service-vehicle fleets of the dealers. The vehicles then would have to be described as used to customers because the dealer will technically be the first owner. But the discount could still be tremendous.
The cost of the program to GM will be considerable, and Ward’s Auto estimates that as of December, GM still has 14,500 new Pontiacs and Saturns on the lots. GM has not commented on the financial impact. All deals on parts, service and warranties remain covered by GM.
If you’re looking to capitalize on the deal, you’d better hurry. The offer expires Jan. 4, the last day of the December car-sales month.
GM Plans Pontiac Fire Sale (Wall Street Journal)