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Big deals on 10,000 leftover 2006 Chevies

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Belated Blowout
Chevy offers incentives on '06 models
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By RICK KRANZ | Link to Original Article @ AutoWeek | Updated: 06/25/07, 9:23 am et

DETROIT -- Chevrolet's 0 percent interest program to sell 10,000-plus new 2006 models sitting on lots nationwide strikes some Chevy dealers as being way overdue.

The program, which began June 15 and expires Wednesday, June 27, offers 0 percent financing for up to 60 months on 2006s, including 404 Corvettes and the last 16 SSR hot rod pickups. As an alternative, rebates of up to $7,000 are available on some models.

"It's great," said one Chevrolet dealer who has more than 20 2006 vehicles in stock. "I'm as happy as a lark, but why weren't we doing this six months ago? I have to get rid of these things."

Traditionally, GM has launched a program late in the third quarter or the beginning of the fourth quarter to help unload the previous model year's vehicles.

Chevrolet spokesman Terry Rhadigan acknowledged that dealers would have liked an incentive in late 2006. But, Rhadigan said, "That is when we were trying to make money for 2006." He says the current backlog of 2006s is "pretty manageable."

A second Chevrolet dealer said the lack of good incentives on the 2006s has prompted buyers to select a 2007 model, which has the advantage of a 5-year/100,000-mile powertrain warranty.

Last week, Chevrolet told dealers that 10,231 2006 models were in inventory nationwide. Colorado pickups topped the list with 1,588 units, followed by the Monte Carlo with 1,390. At the bottom were the Suburban with 10 units and the TrailBlazer EXT with four.

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