A young person once asked me what President’s Day was all about. I explained that it started off as a celebration of George Washington’s birthday. Washington was the first President of The United States of America and served from 1789 until 1797. He was offered a salary of $25,000 per year, which he refused. He was married to Martha and is generally known as “the father of our country”. George was born on February 22, 1732 according to the calendar commonly used since the 18th century. However, the old style calendar used during that era claims George was born on February 11th. . The Federal Government officially made George Washington’s birthday a federal holiday, officially setting his birthday and the holiday as the 22nd of February.
Having a holiday that doesn’t fall on a Monday really messes up the long weekends preferred by American government workers. So in 1968 Congress passed HR 15951 making Washington’s birthday the third Monday of February.
Now along comes Abraham Lincoln, the 16th president of the United States. Known as Honest Abe, President Lincoln is best known as the president who freed the slaves, and for being assassinated while attending a play. One of the nations most beloved presidents, he had the misfortune of being born on February 12th. Celebrating another president’s birthday in the same month as father of our country is just too hard on commerce, and his birthday never became a federal holiday, although it is a legal holiday in several states. So now, although the office of personnel management only recognizes Washington’s Birthday, we generally celebrate the third Monday in February in honor of the birth of George Washington, Abraham Lincoln and every other President.
In 1928 President Herbert Hoover’s campaign slogan was, “a chicken in every pot and a car in every garage”, referring to the prosperity citizens would enjoy under his administration. I guess the auto industry picked up on this, because we now celebrate Presidents day for 14 days (15 in a leap year like this year) with rebates and incentives. You will hear more about Presidents Day over the next two weeks in ads for cars to last you until Election Day.
GM is offering 0% financing for 60 months plus $1,000 in rebates on its most popular models. If you don’t want the financing you can take increased rebates. On top of this there are other incentives on some left over models along with Auto Show rebates in honor of the Baltimore Auto Show that just ended. President’s Day is the proclaimed beginning of the selling season for the auto industry, and GM is expecting a sales boom.
Vehicles like the Motor Trend Car of the Year, Cadillac CTS; the North American Car of the Year, Chevy Malibu; the Chevy Silverado, the longest lasting truck on the road; GM’s popular crossover vehicles, and the GMC Acadia and Buick Enclave are being relied on heavily by GM to kick the 08 selling season in full gear. GM was the only major manufacturer to have a year over year sales gain in January, and they expect the gains to continue.
Now as for the young person who asked me about President’s day, I think I understand his confusion. For information on GM vehicles, visit us at www.gmgiant.com.
Thursday, February 14, 2008
Thursday, February 7, 2008
DID YOU KNOW THIS COULD BE THE BEST TIME EVER TO BUY A NEW CAR OR TRUCK?
GM WAS THE ONLY MAJOR MANUFACTURER WITH A SALES INCREASE IN JANUARY.
The US auto industry just announced that new car and light truck sales were off 8.5% from the same period of sales last year. Slumping auto sales, historically low home sales and the mortgage meltdown are evidence of a slowing economy that has the Federal Reserve Bank cutting the discount rate dramatically.
Of the major manufacturers, only GM had a sales increase. GM’s sales were up 2.8%, led primarily by retail sales. In a strategic move to boost residual and future trade in values of its cars and trucks, GM has resisted sales to rental fleets. Those sales are historically low margin and used to keep plants running.
Manufacturers reporting declines in sales include Toyota, whose sales were off 2.9%, Honda and Nissan reported sales declines of 2.9% and 7.3% respectively, and Ford’s total sales were off 3.9% including fleet, but retail sales were down a full 9%. The big loser was Chrysler who reported their sales off by 12%.
But what makes this a good time to buy, when it is clear that the trend is down? The reality is that auto manufacturers business is building cars and trucks. If consumers don’t buy, plants get idled and the manufacturers lose money. This is the point where incentives take over. Even though GM’s sales were the only ones that were up, they were still no where near levels that will perpetuate production.
Like the stock market, the best buys are when the market is down. You can take advantage of incredible incentives to buy a new car or truck now. And at least for GM, the quality of cars and trucks offered for sale are the best in history. GM, for example, is offering 0% financing for up to 72 months on some models. That represents huge savings over conventional financing. GM is also offering rebates of up to $4,000, and this is after they cut window sticker prices significantly last year. Don’t think the incentives are just on leftover inventory. GM has incentives on just about every model in the line-up, including the 2008 versions.
As the Fed continues to cut rates and the government initiates an economic stimulus package, we know eventually the market will recover and new car and light truck sales will return to normal. Until then it is a buyers market. The quality has never been better. Cars and trucks are more fuel efficient than any time in our history. This is truly the time to buy. For more information about incentives and deals on GM cars and trucks, visit our web site at www.gmgiant.com, or visit us in Easton and Federalsburg.
The US auto industry just announced that new car and light truck sales were off 8.5% from the same period of sales last year. Slumping auto sales, historically low home sales and the mortgage meltdown are evidence of a slowing economy that has the Federal Reserve Bank cutting the discount rate dramatically.
Of the major manufacturers, only GM had a sales increase. GM’s sales were up 2.8%, led primarily by retail sales. In a strategic move to boost residual and future trade in values of its cars and trucks, GM has resisted sales to rental fleets. Those sales are historically low margin and used to keep plants running.
Manufacturers reporting declines in sales include Toyota, whose sales were off 2.9%, Honda and Nissan reported sales declines of 2.9% and 7.3% respectively, and Ford’s total sales were off 3.9% including fleet, but retail sales were down a full 9%. The big loser was Chrysler who reported their sales off by 12%.
But what makes this a good time to buy, when it is clear that the trend is down? The reality is that auto manufacturers business is building cars and trucks. If consumers don’t buy, plants get idled and the manufacturers lose money. This is the point where incentives take over. Even though GM’s sales were the only ones that were up, they were still no where near levels that will perpetuate production.
Like the stock market, the best buys are when the market is down. You can take advantage of incredible incentives to buy a new car or truck now. And at least for GM, the quality of cars and trucks offered for sale are the best in history. GM, for example, is offering 0% financing for up to 72 months on some models. That represents huge savings over conventional financing. GM is also offering rebates of up to $4,000, and this is after they cut window sticker prices significantly last year. Don’t think the incentives are just on leftover inventory. GM has incentives on just about every model in the line-up, including the 2008 versions.
As the Fed continues to cut rates and the government initiates an economic stimulus package, we know eventually the market will recover and new car and light truck sales will return to normal. Until then it is a buyers market. The quality has never been better. Cars and trucks are more fuel efficient than any time in our history. This is truly the time to buy. For more information about incentives and deals on GM cars and trucks, visit our web site at www.gmgiant.com, or visit us in Easton and Federalsburg.
Subscribe to:
Posts (Atom)
