General Motors to start another price war in the US auto market
Worldâ€™s largest automaker General Motors has announced that they plan to slash prices on as many as 80% of their model range in the coming weeks. The aim is to get a smashing start to the New Year. GM recorded huge losses last year and their sales fell by around 4.3%. They would hate to repeat a disappointing performance this year as well.
GM has plans to slash prices on all the models of their Buick, Chevrolet, and GMC range of vehicles. In addition, most vehicles from the Pontiac brand would also see a price cut to lure in more prospective customers. This information was released in the media by the GM’s head of North American marketing, Mark LaNeve.
These price cuts are supposed to come under effect immediately and consumers can avail these discounts from the GM showrooms from tomorrow. If we consider their drops in rates in their vehicle range last year, as many 90% of all models from the company are now available at a discounted price in the retail market.
GM is aiming to improve upon their sales figures by launching new vehicles this year. However, market analysts are not impressed as they claim that the company would need a couple of months of sales to cover up for the lessening demand for their vehicles in the market to catch up with their competitors.