GM offering deep discounts on Saturn, Pontiac vehicles

Peltz purchase makes him Legg's largest shareholder

December 30, 2009

General Motors Co. is offering deep discounts on its remaining Saturn and Pontiac vehicles as it looks to move the leftover inventory of the soon-to-be-dead brands, according to a published report. The automaker will pay dealers $7,000 for every new Saturn or Pontiac left on their lot if the vehicle is moved to dealer-operated rental or service fleets, according to The Wall Street Journal. This allows the dealers to sell the cars and trucks to consumers at a discount, although the vehicles would be labeled as used because the dealer would technically be the first owner. The offer expires Jan. 4, according to the newspaper. GM spokesman Tom Henderson confirmed the details of the incentive plan Tuesday. The decision to discount Saturns and Pontiacs comes as GM closes down both brands under the Detroit automaker's restructuring plan.

- Associated Press

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