General Motors Co. has created a national inventory of low-mileage former GM lease, daily rental, and company-owned vehicles for online shoppers looking to buy a used Chevrolet, Buick, GMC, or Cadillac.
“We know that many of our customers who are shopping for a used car want to complete more of the process online, and that number is growing,” says Mary Barra, chairman and CEO. “GM already…(has) an online new car shopping site with our Shop-Click-Drive service, and we are expanding it with the Factory Pre-Owned Collection.”
Barra says the Factory Pre-Owned Collection will offer an inventory of more than 30,000 vehicles, all with fewer than 37,000 miles, along with an extended factory bumper-to-bumper limited warranty. She says online shoppers will be able to browse inventory, choose a participating GM dealer and reserve their vehicle, and finalize their purchase and take delivery of their vehicle from the selected dealer.
“The Factory Pre-Owned Collection creates a simpler, easier experience for our customers and offers them more choices, less hassle, and greater peace of mind,” says Alan Batey, president of GM North America. “It’s also great for our dealers and GM because it introduces new buyers to our brands and increases residual values.”
Batey says the program also features a three-day, 150-mile exchange program, along with a three-month trial of the OnStar Guidance Plan and the Sirius XM Satellite Radio All-Access Package. Vehicles also come with roadside assistance and courtesy transportation during the warranty period.
GM today also announced an increase to its 2016 earnings per share adjusted outlook to between $5.25 and $5.75, up from the prior outlook of $5 to $5.50, which was provided in October 2015.
“We made significant progress executing our strategic plan and the results are being demonstrated through our improved earnings,” Barra says.
Barra says the company’s 2016 outlook is based on strong product launches, growth in adjacent businesses, continued emphasis on driving core efficiencies across the enterprise, and expected modest global industry growth.