GM Bribes Dealers With Extra 1% Spiff for '09s
Technically speaking, a spiff is an immediate payment to a sales person for a cha-ching. But you get the picture: GM is adding a one percent bonus for any of its dealers that [somehow] manages to shift certain ’09 models (i.e. not the new, still mythical Camaro). “The so-called marketing stimulus payments will be made six months after a vehicle is sold,” Bloomberg reports, upping the New York Times and Wall Street Journal’s recent run of “unnamed sources” by one. “It will be computed from the base-model invoice price, said the people, who didn’t want to be identified because the plan hasn’t been made public.” The come-on is extremely important for GM’s cash flow, or lack thereof; the automaker books a vehicle as “sold” when it ships it to the dealer. So what are we talking here? “Dealers would receive hundreds of dollars per vehicle under the GM program. For instance, the payment would be $166 on a GMC Sierra pickup truck and $549 on a Hummer H2 SUT sport-utility vehicle, according to base-model invoice prices of $16,623 and $54,940, respectively, listed for the 2009 models on Edmunds.com, a provider of automotive information.” But not THE provider. And it’s all caps for HUMMER bub– and no sales. Hey waydaminute! Do they even make those things anymore? And if so, why?
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