General Motors is launching a fourth of July sale: “Buy and Say Goodbye.” From July 1 to July 6, the bankrupt automaker’s offering 0% financing for up to 72 months on “most” of its dead brand walking Pontiac models and “some other vehicles.” More specifically, “select 2009 and 2010 vehicles in dealer stock including Chevrolet Silverado and GMC Sierra regular, extended and crew cab light-duty pickups; Chevrolet Suburban and GMC Yukon XL SUVs; Chevrolet Impala; and the Pontiac models: Vibe, G3, G5, G6 and G8.” But wait! There’s more! “Many other vehicles will have reduced rate financing of 0 percent for up to 60 months for well-qualified buyers. A full list of current offers, conditions, and eligible vehicles, is available at: http://www.gm.com/shop/currentoffers/.” Not yet it isn’t. So that’s number six on our list of reasons why this sale is dumber than toast. Counting down . . .
5. Blowing Bubbles — Isn’t this exactly the kind of fiscal irresponsibility that led to GMAC’s 11th hour, backroom bailout, not to mention the previous, company-killing new car bubble? In its defense, GM says the “Buy and Say Goodbye” sale’s six year loans are reserved for “well qualified buyers.” Yeah, right. What are the odds that beleaguered/doomed GM dealers are going to turn away the last possible customers for moribund metal? Anyone for anyone with a pulse deals again? How about rolling that backwards SUV into the deal! Sure! Look how well that worked out the first time! Or is the old “bait and switch” routine? Sorry, you don’t qualify for zero percent, but let’s talk. Either way, is this how a federally financed, [soon-to-be] taxpayer owned automaker should behave?
4. Damp Squib — Yes, GM’s got to do something to get rid of the dealers’ “rabbit in the python” inventory problem. If they can goose their sale numbers so that the newly nationalized automaker smells less like crap coming out of bankruptcy, so much the better. But wouldn’t it have been more effective if GM had offered cash on the hood—OK, lots more cash on the hood—than trying to entice car buyers with cheap loans? Hello? Consumer confidence is lower than an ant’s abdomen. Didn’t GM get the memo about Hyundai and Ford’s “if you get fired” guarantees? The exact same people who want/need six year loans are either how-low-can-we-go FICO folk or shit-scared of losing their jobs. So . . . good luck with that.
3. Another Bottom Line Boondoggle — The “Buy and Say Goodbye” sale reaffirms GM’s rep as America’s discount car company. To paraphrase Robin Hood’s merry men in Shrek, that’s bad; that’s very very bad. Still, it can’t be helped. More importantly, the sale continues GM pattern of obfuscation (an obfuscatory word for “misleading”). As Buickman has ranted for years, GM has so many special offers it’s virtually impossible for dealers to ascertain which discounts apply to what vehicle for whom. The bottom line: nobody knows the bottom line. Zero percent on what? This gimmick may mop up the remaining four-square suckers, but it runs completely counter to CEO Fritz Henderson’s transparency pledge. No surprise there.
2. The Timing Sucks — While car companies and Fourth of July sales go together like Rick Wagoner and a Gulfstream G4 (Dammit, I miss that plane!), now’s not the best time for GM to launch a Fire Sale, however fleeting. Surely someone at GM knows it has one chance to draw a line in the public’s mind between “Old GM” and “New GM.” Oh, wait, they’ve already done it! So, if the New “reinvented” GM is already a-born, whose sale is this anyway? Is it New GM’s garage sale or Old GM staggering to its grave? And why is it only 72 hours? What’s New GM going to do with the old vehicles that Old GM doesn’t sell? Not discount them? Sorry, guys, your customers are trained. Once again, GM shows its propensity for feeble half-measures.
1. Worst. Sale. Name. Ever. — “Buy and Say Goodbye”? WTF? The marketing geniuses at GM decided to meld their Fourth of July fire sale with a pitch for Cash For Clunkers custom. Hence the “Say Goodbye” bit. But who’s going to make that connection? And even if they do, the more obvious meaning remains: Say Goodbye to GM. Quick! Buy a car ’cause we’re about to take a dirt nap. Alternatively, “Buy A Car and Piss Off.” In fact, “Buy and Say Goodbye” has to be the worst name for a marketing campaign in the history of the world, ever.
As any recovering entrepreneur will tell you, there’s only one way to run a “going out of business sale”: discount the merchandise by a fixed percentage across the board. And call it by its real name. That GM’s suits couldn’t grasp this fact tells you all you need to know about their future prospects.
I’m afraid I won’t be able to resist if they extend this offer to the Solstice.
RF: completely correct assessment of the situation.
it is possible that no one who buys a GM will qualify anyway. The 900+ FICA score people either are frugal and stick to their old car a long time and don’t buy new cars often (bravo, very good strategy), drive an old boxy Volvo (which is the opposite to a GM, or a new Volvo for that matter), or have high incomes. so none of the “qualifying” people will be interested in a GM, no matter how cheap.
kaleun:
Do we know for a fact that a customer needs a 900+ FICO score to score a zero percent loan? I’ll ask around, but I doubt it. And desperate dealers have form on this one; there’s a long and ignoble history of messing with credit applications. Hey! Remember that one?
Bad agency.
“Goodbuy, y’all!”
I thought you were kidding about “Buy and Say Goodbye.” Wow. If there’s ANY chance at GM, any, dozens of people are getting fired yesterday over this and the name is scrapped.
We are looking at the Chevrolet HHR wagon, inspite of your review -(Its boring, plastic texture challenged, not good in the gymkhana, blah, blah, blah. Well it is about as small as a Matrix, has 20% more cargo room, and better quality paint, for starters.)
Anyway, long story short, the incentives are great, but their products depreciate so much, and the economy being what it is, buying used is a better value. You get the model you want, loaded, with low miles for 1/2 of retail.
Money for the clunkers program won’t likely be available until late July, but GM wants to get customers thinking about a trade now, company spokesman John McDonald said.
Another point: Why would they have this sale now?! “Well, I’d like to buy today with the wonderful program you told me about and the 0% for 72 months, but I have to wait 3 more weeks.” Then they think during that time “Will cash for clunkers work on a Toyota, Ford?”
In fact, “Buy and Say Goodbye” has to be the worst name for a marketing campaign in the history of the world, ever.
Big and possibly very early call there RF.
Here they go again with the distress merchandising. Look for the window trim, car top signs, lapel pins, and other useless garbage. Someone really needs to find out who prints this stuff and see who they are related to in marketing at GM. It’s boggles the mind how in the world a company can continue to do the same idiotic things that drove them into bankruptcy. This is truly a prime example of insanity.
GM management is an embarrassment.
Wow. Just, wow.
I thought that the current US Army recruiting slogan (“Army Strong”) was lamer than a thoroughbred with bursitis in all four legs (“Army strong! Hulk smash!”).
As an advertising slogan, “Buy and Say Goodbye” makes “Army Strong” seem like a US Army Veyron racing a GM box turtle.
Its not just GM offering 0% financing fellows. At least in Canada, even Toyota is doing it.
The whole industry is suffering, not just GM. Of course the competition has better reserves to withstand the current conditions.
Worst sale name ever, indeed. You can make this shit up, but I guess you don’t need to with GM’s head-in-sand management still in place!
I’m with Bertel. I think “Buy and Goodbuy” got lost in translation. Think of the great spot this could have spawned:
Average nuclear family pulls up their home’s driveway in new [insert GM vehicle here].
Their neighbor, on other side of white picket fence, looks up from his lawn mower and says, “Good Buy!” and waves.
Happy family smiles and . . .
Fade out . . . GM logo . . . Now at your local GM dealer . . . Voiceover, “Come in today for a good buy!”
Good news, BDB, Solstice qualifies!
I might go and stock up on some HHR’s, ummm hummmm
I agree with you on the name, but disagree with you regarding the financing. The recession means people are more cash strapped than ever, so they need a low monthly payment much more so than a lower overall purchase price. From GM’s perspective, as long as they price for their credit risks correctly, it works fine. I’m a little surprised that you are so surprised. GM was supposed to stop discounting immediately? Their market share would fall close to nothing if they did that.
Funny, when I saw Obama signing the clunkers deal….for the end of July, the 1st thing that sprang to mind was ” well that screws car sales for July then”
He may be pres of the USA, but to announce that a new deal is available a month before it is available is just plain stoopid.
I thought the same with all the electro-B***S**t cars at the Geneva show too. OK, nice electric car you are going to make there Mr.Car maker. I will not buy another ICE car till this comes then…(in 4 yrs time)… idiots.
1. Worst. Sale. Name. Ever. — “Buy and Say Goodbye”? WTF?
It is even worse than “This is not your father’s Oldsmobile” – which reminded everyone exactly WHY they did not want an Oldsmobile.
They could have at least copied the old ad “We are having a sale because we need the cash”. Reminding the customer you are desperate for cash is ok – they understand that. Saying Goodbye indicates they will sell you a car, and not be around to service it.
They should offer cash discounts if they were HONEST. They offer low interest rates so they can “bait and switch”. They advertise 0%, but you find your credit rating is not 900, so by the way, YOUR interest rate will be 5%. But you still want this beautiful Solstice, only a few are left, right?
If they offered a cash discount, then you could shop all the different banks and finance companies, for your best rate, whatever your credit was.
Lower price = low payments, and if you ever have to trade the car early, you owe less. So offer the people a big cash discount. Otherwise, the dealers will go out of business carrying tainted inventory.
BDB-before you jump look at the Solstice execreble reliability scores and put the top up and down 10 times in a row. Repeat same with the Miata.
Even on nice days a lot of the littlest Paunchos have their tops up-either it’s a pain to cycle or they had a package of gum they wanted to carry in the “trunk”.
Just a thought.
Weirdly this campaign could get a “Truth in advertising award”.
“Goodbye and god riddenance”.
Bunter
If we are truly in “deflation,” then 0% is not some windfall.
But it’s better than the bank is charging.
Hmmmmmmmm. Why do I keep thinking about a G8 GT . . .
RF: I don’t know what the requirements are for the 0% loan… but typically that is just a scam to get people into the dealership and barely anyone qualifies.
does the dealer approve the loan? I think the bank (GMAC etc.) does. the dealer just transmits the data to the bank. Well, since GMAC belongs to the goernment they might give 0% to anyone, they don’t need to rely on getting it back ever anyway.
they probably outsourced the advertising campaign and good buy got lost in translation…..
“they probably outsourced the advertising campaign and good buy got lost in translation….”
Ah, those crazy Indians…..
My credit score is in the high 700’s with very little debt. You mean to tell me that I wouldn’t qualify for 0% financing? I’m sure they’ll extend to people like me who want a new car. I’m tempted to pick up a Vibe on the cheap. 0% for 72 months for a Toyota clone? Pretty good if you ask me.
All I see now on GM’s site is the “72 Hour Sale”. Maybe they have already pulled it? If so did anyone grab any of their graphics for the sale? I’m sure it will be a nice piece for the GM wall of shame.
Sort of sounds like a Bond movie, ‘Buy and Say Goodbye, Again’
GM Commercial Spoof
“Buy and Say Goodbye” has to be the worst name for a marketing campaign in the history of the world, ever.
I have to agree. It sounds like the name for a going-out-of-business sale. It definitely doesn’t make me feel confident about the seller being around in the future if I need service. (In fact, if I were a dealer, I would be PO’d by this for fear that it would scare my customer base into thinking that I was one of the dealers targeted for “culling.”)
I can’t add anything more to the discussions of the name of the sale (if that’s what it is, which seems ridiculous) but the whole “fire sale/we extend credit to anybody/hey, buddy, want a cheap car?” kind of advertising is what has pretty much torpedoed GMs reputation, isn’t it?
They might as well be saying “Can’t afford a decent car? Get a GM instead.”
I rarely 100% agree with Robert, but Buy And Say Goodbye is terrible on so many levels. Say goodbye to what?
If they want to clear out the stock of Pontiacs and other discontinued models, just have an honest going out of business sale.
Most of the car companies have been raising MSRP progressively throughout the 09 model year.
Their products cost too much. Trotting out the 72 month 0% sale yet again is old. Try reducing the price. I mean REALLY reducing the price, not those piddling rebates whose amount is strangely similar to the same amounts in the 1970s, although the product cost twice or thrice as much.
I’d have gone with “Good Buy, and Good Luck.”
If GM was truly transparent, whoever was involved with the creation and approval of this would be shot and then sent to the Russian front (Sgt. Schultz voice inserted above).
I looked. Low financing is nice and all, but there is almost no cash on the hood. Maybe a nice Silverado for around $10k AND 0% for 6 years…
Whoever made the new Buick commercial should immediately be appointed head o GM marketing.
There is some talent at Guv Motors marketing, but the guys who ran it into the ground are obviously still calling the shots with ridiculous planning and execution like this.
Even freaking intern could have come up with something better like “The 4th of July Good Buy Sale”.
Old GM / New GM…doesn’t matter. Liquidation is still the future for this entity. Taxpayers get the bill for an arduous and unnecessary stint on life support.
How does 6 days = 72 hours?
July 1st – July 6th = 6 days
6 days x 24 hours = 144 hours
Ok, maybe each dealer is open 12 hours a day?
Still. Stupid.
This entire effort speaks volumes.
From Autoblog.com:
Press Release
Buy and Say Goodbye: July Offers Make Getting a New GM Vehicle More Affordable
• Buy: 72-Hour sale offers new 0 percent reduced-rate financing for up to 72 months to well-qualified buyers on select GM vehicles
• Say Goodbye: GM will have twice as many qualifying vehicles under the Federal “Cash for Clunkers” program, once it is finalized, than any other manufacturer
This is a serious leap of logic. So it’s really the “If You Don’t Have A Clunker, Buy Now, And Buy Next Month If You Do Have A Clunker Sale!”
Seriously?
greenb1ood:
I think I got a 520 on my math SATs. Maybe lower. Text amended.
I’d have gone with “Good Buy, and Good Luck.”
I also like the “Buy a Car and Piss Off” suggestion.