General Motors again offering big discounts on vehicles
No matter how badly General Motors is doing financially in the markets, they are back again with discount schemes for their customers this holiday season. The company is trying to get their sales chart moving up by giving out these discounts to prospective customers. Their new incentive program is called “Red Tag” sale.
This sale provides customers with a fixed, bottom-line price for vehicles. These discounts are even available on some of the 2006 models from the worldâ€™s largest automaker. GM had to take these serious steps after seeing a decline in the last two months of sales. The company ran a similar discount program before that and reported massive sales of their vehicles.
According to sales figures published by the company, GM sold 23 percent fewer cars and trucks in October than it did a year ago. Worse, their market share has dropped down to about 22 percent of cars sold in the U.S. Rising fuel prices and consumer preference for reliable Japanese models has changed a lot for the company best known for gas guzzling trucks and cars.
General Motors is not the only American auto giant to feel the pinch. Ford also is suffering from similar fate having seen drop in sales of their cars in the market by around 23%.