NEW YORK (CNNMoney.com) - General Motors' wildly popular employee discount program was a regrettable mistake and will not be offered again, the company's top sales and marketing executive said in an interview published Thursday.

"Hindsight being 20/20, I probably wouldn't have done it," Mark LaNeve, vice president for GM's North American marketing, told the Wall Street Journal's online edition.

Ahead of next week's Detroit auto show, LaNeve told the Journal that GM plans on doing a better job of promoting the quality of its products, while still pursuing an "aggressive" tact on lowering prices.

The discount promotion, which prompted record sales for GM during its June-September run, was soon mimicked by rivals Ford (up $0.34 to $8.35, Research) and DaimlerChrysler AG (up $0.04 to $53.55, Research) as they rolled out their own programs in July.

Sales at GM (Research) plunged 26 percent in October after the discount program ended, according to the paper.

"In some ways we are turning back the clock," LaNeve was quoted as saying. "The Japanese made their mark by making good products at a lower price. So to some extent, we are going to underprice them."

GM, which is facing speculation it may file for bankruptcy and an eroding share of the auto market, is set to launch 19 products this year, according to the Journal, which will include a mix of full-size and smaller SUVs as well as pickup trucks.

GM officials have repeatedly denied that the troubled automaker will file for bankruptcy.

GM stock, the worst performer in the Dow industrials last year, rose about 3 percent Thursday in late afternoon New York Stock Exchange trading.

 

that news was already posted here yesterday @ http://web.camaross.com/forums/showthread.php?t=420236

 

Maybe it was a mistake... but I benefitted greatly when I got my GTO

 

scott9050 == Buickman

 

Yeah I thought of Buickman when I read that.

 

Sheesh... just start offering standard 10 yr 100k mile bumper to bumper warranties and then everyone will start believing you when you say your vehicles are higher quality now.

 

Would go a long way methinks.

 

Nothing a good product can't fix.

The rest (marketing) is bullsh*t!!!

 

I agree that the Employee pricing maybe wasn't the best thing to do. But I just wonder, does anyone know if they plan on anything like the Red Tag pricing that just ended in the near future?

Only reason I ask is because I had planned on getting an Impy SS, but now that the pricing is gone, I'd be lucky to get a Malibu SS at the price I need.

 

Detroit News reported yesterday that GM will announce its new round of rebates/incentives or value pricing on Jan 10 at the NAIAS. Dec. sales were down 10% from last Dec. and 05 market share is down to 26% from 27.3% in 04. They need to do something fast to get buyers in the showrooms or they will be lucky to declare bankruptcy and emerge from it.

 

Why not? We all know that warranties aren't worth the paper they are written on (says he who had numerous stock clutch issues).

 

Thanks for the Info.

Warranties are good if you have good dealers to support them and not so many clauses that they can opt out of nearly anything, but given the cars we drive, we're more likely to have issues with warranties than anyone else. Our segment of enthusiast drivers tend to fall under the "abuse" clauses a lot more often. Sad thing is, they try to find that in us when we have warranty claims.

But for general public perception, 10yr or anything over 3yr warranties would probably look good in the eyes of a normal person.

 

Who else in the industry offers 10y 100k mile bumper to bumper warranties?

 

funny that you mention Buickman.
I still get his emails, and one thing is alot of his stuff on where GM's directors are going sounds like they are not taking the company in the right direction.
Now I am not defending him or ingnoring him either its just another person views that I like to read. But seams to me hes the only one really hinting about the doom and gloom that could be comming?

what I am asking is how bad is it? this guys making it like the end of the world, but is it chicken little? or is CZ28.com to close to GM that any real negative stuff that someone other than BM would not make it on this board?

now dont get me wrong, guys I know BM has a personal agenda against LaNeve and them and if he kept his head about him his "plan" might of been tried but he took it to far. So what Im asking is how bad is it? and is it possible to turn around with the stadegy they are setting forth?
Were all complaning about the new camaro and how it might look, and what if there is no GM to produce this new Camaro?

and Im stressing it again I am not for or against BM just sitting on the sidelines seeing this unfold and only hearing one side of the conversation.,

 

Trust me, I don't share his views. I hate to admit it, but he might have been right about this one