General Motors Company could extended its 60-day money-back guarantee for consumers when it expires in November, said GM’s Vice Chairman Bob Lutz.
“It’s possibly renewable. We’ll see what kind of experience we have,” Lutz said in an interview with CNBC.
He said that GM expects “way under 1 percent,” of consumers who purchase a new Cadillac, Chevrolet, GMC or Buick vehicle to return them in the guarantee program. He said that GM is pleased with the initial feedback from the guarantee program.
Lutz said research shows that it has increased the pool of consumers who said that they would consider buying a GM vehicle.
It was reported earlier this week that consumers would prefer a more comprehensive warranty or lower prices over the buy back program
– By: Omar Rana