DETROIT – General Motors Corp. will offer car buyers nervous about rising interest rates a chance to lock-in today’s low rates in a bid to boost its sluggish U.S. sales, car dealers briefed about GM’s new sales incentive plan said on Tuesday.
Under the program, called “Lock and Roll”, GM will give car buyers who purchase a new GM car or truck this month the same low financing rate when they buy another GM vehicle within five years, the dealers said.
The incentive offer is timed to coincide with an expected hike on Wednesday in interest rates by the U.S. Federal Reserve, a GM official told dealers in a briefing on Tuesday afternoon.
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