After announcing the return of employee pricing for the general public, General Motors is following Chrysler ’s lead – somewhat – in pulling out of the leasing market. Though GM will continue to lease new cars, the automaker says that leasing incentives for the Pontiac, Buick and GMC lines have been drastically cut.
According to a Detroit-area Pontiac dealer quoted in the Detroit Free Press, the only lease deal GM will offer through its partially-owned GMAC arm will be on the Pontiac G6. It’s unclear what GM will do with its other lease-heavy brands and lines. GM had been supporting the leases with below-market rates. Leasing will certainly still be available, but shoppers will need to look to banks, not GMAC.
GM says more specifics will be available tomorrow when the auotmaker officially unveils its employee pricing plan.
