GM to launch $2,002 rebate on 2002 models - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

GM to launch $2,002 rebate on 2002 models

Updated:
DETROIT (AP) _ General Motors Corp. will begin offering a $2,002 rebate, replacing its just-ended zero percent financing program.

The cash rebate would be offered on all 2001 and 2002 GM vehicles, GM spokesman Jeff Roegner said Thursday.

The rebate is expected to cost the automaker less than the no-interest loans it had offered to counter fears that business would lag after Sept. 11.

Ford Motor Co. and DaimlerChrysler AG followed GM's lead on the zero percent financing program because of its popularity. Their financing offers are slated to expire within two weeks.

GM television commercials announcing the $2,002 rebates were aired early by mistake in Chicago on Tuesday, The Detroit News reported Thursday.

Analysts estimate the zero percent financing represents a savings of anywhere from $2,500 to $7,000 throughout the course of the loan.

Executives at all three major automakers have discussed wanting to de-escalate the industry's rebate wars. GM's latest program is an admission that heavy discounts are needed to keep sales from dropping, given the weak economy and the intense competition from Japanese, Korean and European rivals.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.