GM offers new consumer incentives on U.S. vehicles

DETROIT, March 15, 2007; Reuters reportede that General Motors Corp. said on Thursday it is offering no-interest loans for a period of three years and $1,000 cash rebates on many 2006 and 2007 model-year vehicles to boost sales momentum.

GM's new Silverado pickup trucks are also included in the incentive program, which runs through April 3.

The offer will be called a "Spring Sales Event" at GM's Chevy and Saturn dealerships, while Buick, Pontiac and GMC will call it an "Upgrade Event," GM said.

GM, which swung to a profit in the fourth quarter, saw U.S. sales increase nearly 4 percent in February. The automaker said it had reduced incentives too much in January, leading to a 20 percent decline in U.S. sales.

"It is normal practice, at this time of the year, to hold promotions to introduce everyone to the new model-year vehicles and continue sales momentum," the company said in a statement.

Cadillac, Hummer and Saab were excluded from the sales promotion, GM said.