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Hint of Hyundai at GM (7/10/12)

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  1. Chris Perry1:04
  2. General Motors3:37, 3:52
  3. New York Times4:16
  4. GM0:40, 1:01, 1:28
  5. Troubled Asset Relief Program3:07
  6. task force2:25, 3:12, 3:22
  7. free pricing1:33
  8. collective investment3:39
  9. union agreements2:49

Tue, 10 Jul 2012|

Latest promo gives GM a hint of Hyundai | Delphi pension dispute | Ford Escape safety petition

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Automatically Generated Transcript (may not be 100% accurate)

If you're not happy and leadership team. -- -- Brimming with confidence. -- Chevrolet some new promotion could mean for the brand by year's end dealer. That. Thanks for stopping by on this Tuesday. Chevy confidence is the name of the program unveiled today. For starters it allows consumers to return any new one in twelve or one in thirteen bottle your shabby. For a full refund within sixty days if they don't like the vehicle. GM offered a similar sixty day money back guarantee following its 2009 bankruptcy. True cart dot com analyst Jesse -- Kraft says. The promotion is an attempt to quote improve the image of the brand and a long term basis. The return program is similar to ones designed by GM marketing executives -- Jolie Monica and Chris Perry when they worked at Hyundai. And then there is the -- Dicker sticker part of the promotion. That's price tag that's our price of its price Chevy calls its total confidence pricing. One price. -- all remaining 2012 chevys. Chopra says the public will essentially paid the same price GM offers to employees of its suppliers. You were called haggle free pricing was the heart and soul of GM's now defunct Saturn brand. As for stores shutting noting that confidence program comes -- many dealerships have upgraded their show -- But some of our readers aren't quite sure how the promotion will help the store's bottom line. At forty writes quote. I get -- is so confident in their product. That they will let their dealers make little to no profit for two months and take that hit on the use car went in if the customer returns it. The promotions begin today and runs through September 4. Should be sales are up 6% this year in a market that is up 15%. Ex US cars are Ron bloom into other former members of the president's auto task force. Were called before congressional panel today. The topic and ongoing dispute over pensions for salaried workers at partsmaker Delphi. So here's the basic issue. During its US led bailout GM help preserve the pensions of hourly workers in its former parts unit. Honoring union agreements from 1999. But the government took over pensions for more than 20000 salaried Delphi retirees. Living some with just a fraction of the amount owed that. First testifying. Christie Romero special inspector general for the treasury department's Troubled Asset Relief Program or TARP. She says the three auto task force members had refused to be interviewed by her office. We are conducting an audit review of Treasury's role in that decision and whether the auto task force pressure GM to provide additional funding for those pensions. Task force members. Defended GM's decision. The -- team agreed that honoring the top up agreement was a prudent business decision. And we believe that doing so would protect both General Motors and the American taxpayers collective investment in the company. Another former task force member. -- GM acted to prop up a key supplier which was also in bankruptcy. So -- for the liquidation would have shut down all General Motors. And will land on a quick safe keynote. The center for auto safety has asked federal regulators. To investigate 200222004. Model year Ford escapes. It's is an unrelated recall repair could make some of the suvs more susceptible. To unintended acceleration. That report coming from the New York Times. Thanks so much for watching everyone and there's all we hope to see you right back here. Tomorrow.

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