General Motors is upping the incentives to get cars off U.S. dealership lots, including a money-back guarantee on Chevrolets, auto analysts say.
GM has announced no-haggle pricing for its 2012 Chevys at participating dealers and is giving customers up to two months to return most models for a a cash refund, the automaker announced Tuesday.
GM says it's not reacting to increased inventory or worries about the economy. Chris Perry, Chevrolet vice president for marketing, said the company is just being creative, the Detroit Free Press reported.
"I think we're doing a pretty good job of managing our production to the volume and the demand. Our inventories are good. We don't need to put a lot of dollars against it," Perry was quoted as saying.
Edmunds.com senior analyst Jessica Caldwell said the promotions are a good way to get rid of old model-year vehicles, The Detroit News reported.
The "Chevy Confidence" program, publicly introduced in a 60-second ad during Tuesday's Major League Baseball All-Star Game, is aimed at new customers, the News said.
"Our research shows consumers are reassured of the quality of a product and like the peace of mind that comes with knowing they have the option of being able to return their vehicle," Perry said.
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