General Motors made it official last week: Big pickups and SUVs are mighty hard to sell without substantial cash rebates. And selling cars is no walk in the park, either.
Several of GM's 2007 models in the big-pickup and SUV segments are bringing as much as $2,500.
On 2006 models, the high points are $6,500 on the Cadillac Escalade and $6,000 on the Chevrolet Avalanche, Tahoe and Suburban and the Yukon and Yukon XL. Not as much as the $8,000 and $7,000 on the Lincoln LS and Town Car, but significant nonetheless. Those are the old Cadillac, Chevy and GMC models, which have been clogging dealers' lots since the 2007 versions were introduced early this year.
Last week, GM raised just about every rebate on its books. The biggest bump was on Buick's hard-to-move 2006 Rendezvous crossover, up $2,000. It now brings $3,500. Rendezvous sales are down 20.6 percent this year. The new program is scheduled to expire Sept. 5.
Elsewhere, Hyundai renewed its rebates of $500 to $3,000 until July 31 with minor alterations. And Volkswagen and Audi, which offer only cut-rate loans, revised their annual percentage rates slightly.
You may e-mail John K. Teahen Jr. at [email protected]