General Motors Corp. added low rate financing incentives on some of its trucks and minivans to lure buyers for the models whose sales fell last month.
The world's biggest automaker is offering financing as low as 0.9 percent on its Chevrolet Venture, Oldsmobile Silhouette and Pontiac Montana minivans, and financing as low as 5.9 percent on its Chevrolet S-10 and GMC Sonoma crew cab pickup trucks.
U.S. automakers are relying on discounts to lure buyers as sales begin to wane after almost two years at a record industrywide pace. U.S. car and light-truck sales fell 3.4 percent last month.
"Incentives are a competitive tool, one of many," said GM spokeswoman Gwen Knapp.
GM dealers have a 99-day supply of light trucks, the most bloated in the industry, Goldman Sachs analyst Gary Lapidus said in a report last week. The automaker said Friday that sales of the S-10 fell 30 percent in November, while Sonoma sales declined 25 percent. Montana sales fell a third from the year-earlier month, while Venture sales fell 15 percent and Silhouette slipped 2.1 percent.
The new incentives are on top of discounts of as much as $1,500 that the company announced Nov. 20 on some of its pickup trucks and sport utilities.