GM Reduces Leases Except for Cadillac and Saab

DETROIT – While automakers have cut back on lease incentives, General Motors Corp., at least recently, is backing the trend with Cadillac, reported the Detroit Free Press. GM informed Cadillac dealers on Sept. 5 of new lease incentives, through its GMAC financing arm, on 2009 Cadillacs, as well as the Saab 9-7X SUV, to last through Sept. 30. That makes the Cadillac lineup and one Saab model GM’s only vehicles in the United States with discounted leases through GMAC.

GM, while is scaling back on its leasing incentives, is singling out Cadillac and Saab as a competitive move because leasing tends to be popular in luxury segments.

While GM is cutting back on lease incentives through GMAC, GM’s financing arm, 51 percent-owned by Cerberus Capital Management, is not done leasing, said GMAC spokesman Mike Stoller.

“Auto financing and leasing continue to be part of what we do at GMAC,” he said, as quoted by the Detroit Free Press. “There are no plans to eliminate that.”