We’ve all heard the news about the economy - housing market down, oil prices up, value of the U.S dollar down. On the same day we hear that that GM shares have dropped below $10 for the first time since 1954, GM employees are told that they can no longer get “employee pricing” on the Saab 9-3 because of the weakening U.S. dollar.
The employee discount on the 9-3 is significant, saving GM employees 7%. “Our business is under quite a bit of pressure,” Saab spokesman Jan-Willem Vester told Automotive News. “A big part of that is the euro against the U.S. dollar, and the 9-3 is built in Europe. …This was something to protect the profitability on the vehicles.”
The 9-3 could be the first of many. Obviously the Pontiac G8, with its Australian roots is being considered; otherwise you wouldn’t be reading this article on G8Nation.com. Other vehicles could include the Chevy Aveo and the Saturn Astra.
Now for the butterfly effect…eliminating these popular vehicles from the GM employee pricing program will hurt the already maimed, Detroit economy even further. Detroit dealersihps rely on employee sales for a large portion of their overall sales. One Detroit Saab dealer claimed 40% of their sales to employees.
With the 2009 Pontiac G8 price increasing by $1,365 on the GT, and the possibility of the removal of GM employee pricing, GM employees should flock to the remaining 2008 models still on Pontiac dealer lots.
[Source: Jalopnik via Automotive News]