Dealer Hopes GM Stock Will Lure Customers

Slumping sales mean car dealers have to come up with new ways move vehicles. Jim Coleman Cadillac in Bethesda, Md., is not only offering generous financing — the dealership will throw in 100 shares of GM stock. With GM shares crawling near their 50-year low, that may seem like a bum deal. But the dealer's general sales manager says people aren't as interested in exactly what the dollar amount is. Instead, they are interested in investing in an American company.

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STEVE INSKEEP, host:

And today's last word in business comes from a Cadillac dealership in Bethesda, Maryland.

RENEE MONTAGNE, host:

The dealer's slogan: Join us in jump-starting America, one Cadillac at a time.

INSKEEP: Jim Coleman Cadillac is offering, in addition to zero percent financing for five years, 100 shares of GM stock.

MONTAGNE: Gosh, Steve, it doesn't sound like a huge lure. I mean, GM shares are...

INSKEEP: Well, the toaster was too expensive, so they just went for something cheaper.

MONTAGNE: Well, GM shares are near a 50-year low, OK. OK. Just in case you didn't know, and the company is begging the government for financial aid.

INSKEEP: But general sales manager Trey Rogers of Jim Coleman Cadillac says he attributes 20 percent of this month's business to that stock offer.

Mr. TREY ROGERS (General Sales Manager, Jim Coleman Cadillac): People aren't as interested in exactly what the dollar amount is - of the stocks. But rather that it's an investment into an American company at a time when people are looking to buy American and looking to invest American companies.

INSKEEP: Gives a whole new meaning to the term "investment vehicle."

MONTAGNE: That's the business news on Morning Edition. I'm Renee Montagne.

INSKEEP: And I'm Steve Inskeep.

(Soundbite of song "Pink Cadillac")

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