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Thursday, October 15, 2009
GM's 60 Day Money Back Promo is a FLOP!!
As I predicted a few weeks ago, the GM Money Back Plan has been a total FLOP. Yesterday GM's Bob Lutz announced that during the program 150,000 GM vehicles have been sold! That sounds pretty good, right? Well, the only problem is that GM actually LOST market share! Here's how the GM dealers presented the "deal of the decade": a potential GM purchaser was enticed with the huge national advertising campaign of "bring it back in 60 days if you're not happy"! What GM didn't tell you was that when you actually closed the purchase, you had a choice: sign the 60 day money back agreement OR (and this is one that most dealers wouldn't let their salespeople talk about) there was a 500.00 rebate in lieu of the Money Back deal. Bob Lutz "thought" that about 100 people signed up for the 60 day program while everybody else took the money! He claims that one person returned a Corvette to exchange his 6 speed manual for an automatic! So let's see if I understand. GM spent millions of dollars promoting a 60 day money back may the best car win program that had 100 takers? The result was 150,000 sales and LOSS OF MARKET SHARE? As Ricky Ricardo would say: "The person that came up with this winning idea has lots of SPLAINING to do!" I did hear that the guy behind the 60 Day MONEY BACK program had the confidence of GM management because his previous successful campaign was the SHAMWOW! I can't wait for the next GM promotion! I've heard rumors about buy a GM car and we'll include you in our health care program! Hey, the government owns GM so why not?
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