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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (9589)	3/6/2004 5:52:20 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Russ to sell that car (my wife just bought one) we got $2500 factor to dealer incentive, $500 auto show bonus and we did not go to an auto show, $775 free discounts, 5 months early lease termination with no penalties, and $100 over invoice. $3775 in discounts and early termination with no penalty. The dealer told me sales have been horrid. Not just GM, every dealer in the area. We had GM send us 3 letters on this early termination plus an actual phone call. Now you tell me what is happening here, but it sure seems obvious to me. More and more and more people are so far upside down on loans that deals get better and better. Unless deals are great. No one is buying without HUGE incentives. I bet we see a buying spurt in sales as a result of this GM desparation, but I bet they are not making anything on them either AND they are just taking away from next years sales to boot. Not a pretty picture if you ask me. One of the dealers we went to (not the one we bought from) told me flat out GM desperately needed to raise some money now for pension fund obligations. I was shocked to hear that info volunteered. Hmmmm Mish