GM Launches Incentives To Spur Vehicle Sales During Coronavirus Outbreak

To help spur automotive sales during the coronavirus outbreak, General Motors (GM) is reportedly offering consumers incentives that include four months of deferred payments and 0% financing for the next seven years.

GM is offering the deal through its financial arm, GM Financial, to car buyers with an A+ credit rating and deferred payments for those with a lower A1 rating, CNBC said.

GM will be offering the buyer incentive under all of its brands, including Buick, Cadillac, Chevrolet, and GMC through March 31, GM spokesman Jim Cain told the news outlet.

“We wanted to reassure customers that we’re here for them and our dealers are here for them,” he said. “We’ve never done this combination before.”

For GM vehicle owners that are having difficulty making their monthly car payment because they have been impacted by the coronavirus, GM Financial said it can provide additional payment options.

Customers can access their accounts online or through the GM Financial Mobile App or by calling 1-800-284-2271 to discuss possible payment arrangements.

Shares of GM stock were down 5.40% as of 3:15 p.m. EDT on Tuesday.