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They had excess inventories and had to offer massive rebates to clear their inventory levels.
Still, truck sales for General Motors, and for other car makers, were helped along by massive rebates.
The new way is to lower sticker prices to bring them closer to actual transaction prices and to throttle back on the massive rebates and giveaway deals.
Economists remind us that there is no such thing as a free lunch: Cars that are sold with massive rebates tend to suffer greater deprecation than more-desirable vehicles.
For the past few yeas GM has ended up with huge inventories in December, and each time came through with massive rebates, deals and sales that worked down the numbers.
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Massive $450-million 450-million program plagued by poor planning and oversighturfudit finds. .
"Perhaps most troubling is that the massive tax rebates that were sent out during the April/mid-July period are having only a very limited effect on consumer spending," wrote Brian Bethune, an economist at Global Insight, a research firm.
Foreign companies that were once lured to massive manufacturing parks and zones with low costs and rebates now feel at a disadvantage compared to local manufacturers who seem to be increasingly favored by the government.
Early applicants with massive lawns in communities such as Rancho Santa Fe received rebates as high as $70,000 before caps were put in place.
But after £1.3bn of restructuring and disposal charges, £850m of expected PPI rebates and £1.1bn of sovereign debt impairment, the bank actually posted a massive loss.
She disputed Ley's assertions that pathology service providers were using the rebate to boost profits, saying the industry was now at a "critical point" following massive consolidation over the last few years.
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