DETROIT, Jan. 6 (UPI) -- U.S. automaker General Motors Corp. is cutting prices on its vehicles and largely doing away with complex rebates and incentives.
While GM is not disclosing how much it is cutting prices, company officials say the automaker will launch new vehicles this year with comparatively low sticker prices, the Detroit News said Friday.
The company said it also plans to be far more straightforward with buyers about what a vehicle actually costs.
"We're going to be much more direct this year," Mark LaNeve, GM vice president of North American vehicle sales, service and marketing, said.
"We'll say, 'Best product, here's why. Best price on an MSRP basis.' We think our product story has gotten lost in all the reporting of our financial results."
GM worries that buyers are weary of complex incentives and want clear-cut vehicle pricing.
