General Motors Co. announced Tuesday that the automaker is offering discounts on its remaining Saturn and Pontiac vehicles.
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The automaker mailed a letter to dealers, stating that it will pay them $7,000 for every new Saturn or Pontiac left on their lot, according to The Wall Street Journal.
The offer expires Jan. 4, according to WSJ. GM spokesman Tom Henderson confirmed the details of the incentive plan Tuesday.
The decision to discount Saturn and Pontiac automobiles comes as GM closes down both brands under the automaker's restructuring plan. The shutdown of Pontiac was announced earlier in the year. GM announced this fall it would discontinue Saturn after a deal collapsed to sell the brand to Penske Automotive Group Inc. (NYSE: PAG).
Besides Pontiac and Saturn, GM is selling Hummer to Saab, leaving the automaker with four core brands: Buick, Chevrolet, GMC and Cadillac.
Sales of Saturn and Pontiac have declined sharply this year. Saturn sales have plunged 61.5 percent through November. Pontiac sales have slid 32.3 percent. GM's companywide decline is 31.8 percent.
With a $7,000 discount, the manufacturer's suggested price of Pontiac's cheapest vehicle, the G3 hatchback, falls to $7,335. The incentive brings Saturn's cheapest vehicle, the Astra compact car, to $9,495.
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