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  • TTAC Called It: GMAC Ceasing Leasing Tomorrow. Employee Car Discounts Next to Go?

31st July 2008

TTAC Called It: GMAC Ceasing Leasing Tomorrow. Employee Car Discounts Next to Go?

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We’ve just heard from our sources that GMAC is about to announce that it will no longer offer lease deals on the Yukon, Yukon XL, Suburban, Tahoe, all full-size trucks, Envoys and TrailBlazers as of tomorrow. The General’s captive finance arm will also raise the “money factor” (the leasing rate) on Cadillacs by two percent. Needless to say, this will be an enormous blow to GM’s sales. We’re told that GM has called a meeting of all mid-western dealers at the Rock Financial Showcase for the same day, [presumably] so that marketing maven Mark LaNeve can announce the incentive deals that will replace leasing. We also hear that GM is about suspend employee pricing on most car lines, such as the Chevy Cobalt, in order to make money where they can. We’ll have more info as we get it. [hat tip to you-know-who-you-are]

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