GM Extends 0% Financing, Huge Rebates

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.

Published on July 1, 2008 in GM,Hummer

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