Dealers will offer many ‘different’ types of incentives when sales are at an all-time-low. At a time when gas prices were out of the rood, a Chrysler dealer was offering customers a gun or free gas for the summer. Today, two Texas dealers announced that they will offer customers 50 shares of GM’s stock if they buy a new GM vehicle by the end of the month.
Will and Corrie Churchill bought 5,000 shares of GM stock at the end of last week when GM’s stock price was at its lowest since the 1950s. They are now offering the first 100 customers the chance to own 50 shares of GM when they purchase a new car. Will Churchill says the promotion coincides with GM’s 100-year anniversary – which, not to mention, was last month.
According to Automotive News, the gift was worth $321 today at GM’s closing pricing of $6.43.
“Typically when a customer buys a car and they go to trade it in two or three years, it has depreciated,” Will Churchill said. “Hopefully in two or three years,” GM stock “will probably be worth more.”
Only time will tell.
Source: Automotive News (Subscription Required)