By Michael Karesh
August 21, 2008
Despite swearing up, down and sideways that Toe Tag sales were a thing of the past, GM started a new "employee pricing for everyone" sale yesterday. It runs through September second. At least. All the new pricing info is locked and loaded on TrueDelta. Every GM model ["91 vehicles found"] is included in the EPFE sale, even the Corvette and Pontiac G8. The "employee discount" is $75 less than it was three years ago– no big deal. But Saab and Saturn now share the regular GM formula; they had their own employee pricing formulas the last time around. This means that Saabs are priced slightly higher than before, while most Saturns drop by a few hundred bucks. (Employee pricing is especially helpful with Saturns, as many dealers normally insist on charging full sticker.) With the other GM brands, you can often negotiate a price not too far above the employee price anyway. GM shaved rebates by $1k and even $1,500 in a few cases. Rebates actually increased by $250 for the last next big thing, the Lambda crossovers. The most heavily discounted vehicle: the Saab 9-7X. The Saablazer carries an $8k rebate on top of the employee price. If low-interest financing is your thing, fuhgeddaboutit. GM removed zero-percent financing from most models; 0.9 is now the lowest you'll find (except on a Hummer). For many models the "special GMAC rate" is now 6.9 percent. As in "get your financing elsewhere."
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POWERED
August 21st, 2008 at 3:12 pm
Could it be, GM wises up to finally make some cash on financing?
August 21st, 2008 at 3:12 pm
Up the road a piece, the Tawhore hybrid’s price has been reduced from $55K to about $50K and then there’s a $5K rebate… final price about $45K.
Maybe it will, at long last, sell.
August 21st, 2008 at 3:28 pm
Does GM still even have any employees on which to base this pricing?
Also, go to the GM website for this offer and try pricing a Trailblazer just for the fun of it.
August 21st, 2008 at 3:47 pm
No need to go to the GM website. You can price one right here at TTAC, since they license TrueDelta’s pricing engine.
I’m not a fan of the 9-7X, but the Aero version with the 6.0 V8 might be of interest to some people here.
August 21st, 2008 at 3:53 pm
Clearly the message is “get what you can for the vehicles, never mind profit, just gimme some money”. The only reason a company would do this is to get some cash in the bank to pay the next due bill.
I guess the next big idea will be to put the inventory on Ebay – but that will give the execs a reality shock when they see exactly what the market values their products at.
Next to watch out for is suppliers being told that there’s new (longer) payment terms.
August 21st, 2008 at 3:54 pm
$20,004.23 for the cheapest Trailblazer. For the record, that $4.23 is going to save GM from financial ruin.
We all know the dealer is going to throw a few thousand on top of that as well.
As an observation, the Chevy dealer I drive past on my way to and from work has two lots. One used and one new cars. The used car side keeps getting emptier and emptier, while the new car side keeps getting more crowded. I am expecting a new infusion of used cars any day now as it was looking really sparse over there this morning.
August 21st, 2008 at 4:10 pm
Point Given
Im sure GMAC thinks they will make money on
financing but the banks and CUDL (credit union
direct lending) will steal most of it away from
them
August 21st, 2008 at 4:28 pm
Thanks for saving me from having to do a manual cut and paste like last time.
It’s interesting that the 09 Corvette is not on the list yet there is cash on the hood.
August 21st, 2008 at 5:13 pm
this brings back memories of the earlier Employee pricing days.
A friend bought a Saabaru 9-2X Aero (Loaded WRX Wagon) for $19,250. an absolute STEAL when comparable Subaru WRX wagons were selling in the $23K range.
August 21st, 2008 at 5:24 pm
The tide of popular opinion has turned against Red Ink Rick and his Band of Bystanders. As he said in Lordstown today…we’ll have to wait and see if GMS for everyone builds momentum. Proves he has no clue as to what actually works. Forget the pens, we’re gonna need paint guns for the Katrina of Red Ink headed our way. ‘Course, as we know, RIR’s pencil pushers have their creative ways of releasing financials with material weaknesses which are then glossed over by PR.
H. Ross Perot, Newsweek (12-15-91) “Gorilla dust is his expression for the perennially optimistic statements made by Smith and other company executives. Scooping up some imaginary dirt and tossing it in the air, Perot says, ‘When gorillas fight, they throw dust in the air to distract one another.’”
August 21st, 2008 at 5:54 pm
FinanceGuy:
No doubt the credit unions have been aggressive on financing, however, even if GMAC only takes on 50% of the financing business this sale it’s better to have it at 6.9%.
I guess it’s just price discounts instead of subventing interest rates this time around.
August 21st, 2008 at 7:11 pm
Well, you can still get 0 for 72 on a Hummer.
Saab regularly blows out this or that model. Two or three years ago it was the 9-2X. After that it was the 9-3. And now it’s the 9-7’s turn.
August 21st, 2008 at 10:22 pm
I might take an Aveo for a grand(nothing more though).
August 22nd, 2008 at 10:04 am
Anyone want to bet me a thousand bucks this fire sale won’t be extended beyond September 2nd?
August 22nd, 2008 at 10:18 am
The large Mazda dealership near my house is having a blowout sale on a large inventory of 2007 models. Sheesh.
August 22nd, 2008 at 12:26 pm
I wonder why Mazda has so many brand new 07’s on the ground?
The dealer near my home has 15 2007 Mazda 3 , manual trans in stock
Lots of C7’s too!
August 23rd, 2008 at 2:41 am
“GM Employee Pricing” at http://www.EmployeePricingGM.com worked great for me. Posted earlier and since made a great deal. GM Employee Pricing may the force be with you.