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Tue July 10, 2012
Chevrolet offers 'Love it or return it' to boost U.S. sales
General Motors set a global sales record for the first quarter of 2012.
But in the U.S., GM's market share dropped to a record low in the first half of the year -- 18.1 percent, according to Edmunds.com.
Now, GM's Chevrolet brand is offering a program it calls "love it or return it," to try to boost sales. Chevy is the company's most important brand, accounting for 70 percent of its sales.
The company will let people return their new Chevy vehicles within 30 to 60 days after purchase for any reason.
The program also includes no-haggle pricing.
Edmunds.com analyst Michelle Krebs says it potentially could help GM boost its U.S. market share. GM lost market share, as did Ford, as Honda and Toyota came roaring back in the first half of the year with ample inventories on dealer lots. Both those companies lost market share in 2011 because of the tsunami that struck Japan.
"The other thing is, it's pretty cheap for GM to do this," notes Krebs. "Because very rarely, when another company or GM has done a program like this, does anybody bring the car back."
Krebs says it's important for GM to get potential customers into its dealerships, because, in her opinion, the company's product lineup is not getting the attention it deserves.
GM says the "love it or return it" program will help show its confidence in its products- and perhaps lure additional customers to Chevy dealerships, many of which have been extensively upgraded.