GM Discounts 2002 Model Cars, Minivans up to $1,000

Bloomberg News reported that, General Motors Corp. put discounts of as much as $1,000 on 2002 model-year sedans, luxury cars and minivans that hit showrooms last month to try to boost sales and reverse declining market share. The largest automaker is offering $1,000 cash back on seven midsize sedans including the Chevrolet Malibu, Pontiac Grand Am and Oldsmobile Alero and on four luxury models, including Buick Park Avenue and Oldsmobile Aurora. Some small pickups, minivans and small sport-utilities also were discounted. General Motors is taking the action to adjust to a declining car sales market, spokesman Jeff Roegner said. The Detroit-based automaker is offering low-rate financing as an alternative to the cash incentive. Discounts on 2002 models run through Jan. 15 and additional discounts on 2001 models end Oct. 1.