Though I wrote yesterday that the $7,000 Hummer H3 rebate was coming to an end, GM decided to go and prove me wrong. It seems they aren’t too happy about the 50%+ drop in sales over on the Hummer side. To try to help things along, they’ve decided to extend that $7k rebate through the end of July. Not really much of a surprise when you get right down to it.
Also announced is the extension of 72 month 0% financing. The “new” expiration date for this financing firesale is July 7th – though I’d lay money on GM pushing that date out even further. With sales on most of their brands tanking in a colossal way ( with Hummer at the forefront ), mind-blowing incentives is really the only option left to GM. It’s really nothing more than trying to use a band-aid to fix a severed limb. It will hold things back for a short while, but the dam will break, and it will be ugly. Chapter 11 bankruptcy is looming in the future, and there’s nothing GM can do to stop it.
