Saturn Brings Back 0% Financing as the Company Boosts Production of Popular Fuel Efficient Models

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Yesterday General Motors announced a series of initiatives designed to jumpstart June sales of its 2008 models, and grow volume in certain key segments of the marketplace. To boost sales, the company plans a "72 Hour Sale" with 0% financing and cash back opportunities on "over 80%" of its vehicles, according to Automotive News. "We know how to do this, we throw considerable media weight behind it," said Mark LaNeve, GM vice president of vehicle sales, serivce, and marketing. "It's a really simple offer that's very compelling. It's a good way to finance if someone's upside down on their vehicles."

A number of Saturns were impacted by the announcement.

  • Sources tell that Saturn will offer 0% financing for 72 months on its 2008 Aura, Vue, and Sky models between now (June 24th) and the end of the month. The Outlook, Astra, and Saturn's hybrid models are reportedly NOT included in the 0% financing program.
  • Automotive News also reports the GM will "offer $500 cash to customers who buy, rather than lease, vehicles."
  • While the company is slashing production of its large trucks and SUVs, dealers who listened to the General Motors announcement via conference call told the publication that the company plans to boost production of the Saturn Aura, Chevrolet Malibu, Cevrolet Cavalier, Pontiac G6, and Pontiac G5. The non-hybrid 2009 Saturn Aura will offer a class-leading 33 mpg on the highway, besting EPA estimated figures for the Honda Accord and Toyota Camry.
  • Production at GM's Lansing Delta Township manufacturing plant, where the Saturn Outlook is built, will also be increased. The Detroit Free Press reports that Lansing will "add overtime or Saturday work." The Lambda-based GM crossovers are the most fuel-efficient eight-passenger vehicles on the market.

Source: Automotive News, Detroit Free Press

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Flashback Friday: 1992 Business Week Cover Story

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This August 17, 1992 issue of Business Week recognized Saturn as a rare success for General Motors. "As foreign rivals continue to flood the market with new models, Saturn is meeting them head on," wrote the magazine. "Almost overnight, Saturn has become the highest-quality American-made brand, with as few defects as Hondas and Nissans."