Chevy Buy-Back Program 2012 Allows Customers to Return Cars
Chevrolet introduced Tuesday, July 10, 2012, its “Chevy Confidence” buy-back program, which allows buyers to get refunds if they return their 2012 or 2013 Chevy vehicles for any reason.
The guarantee lasts for up to 60 days from the date of purchase, and the offer ends September 4, 2012 provided that cars can’t have more than 4,000 miles on their odometers and they aren’t damaged.
Chevy Marketing Chief Chris Perry says research shows that customers like it when companies show confidence in their cars and trucks.
“We’re so confident you’ll love your new Chevy, we’ll give you up to 60 days to make sure of it with our new Love It or Return it Guarantee. Buy any 2012 or 2013 Chevy, and if you’re not happy, you can bring it right back. Needless to say, we’re pretty confident you won’t want to let it go. That’s Chevy Confidence,” the company posted on its website.
Customers will get the same discounted price as General Motors offers to employees of parts supply companies, plus any other discounts such as rebates or low-interest financing. If customers aren’t satisfied with the vehicle, GM will refund the purchase price.
Industry analyst Jesse Toprak, vice president of market intelligence for the auto information website TrueCar.com, called the Chevrolet buy-back program “smart and cost-effective,” and said “it will work towards diminishing the perception gap of the Chevrolet brand, particularly in coastal metropolitan areas where consumers have a stronger preference towards the import brands.”
In addition to the buy-back program, Chevrolet is also launching a “Total Confidence Pricing” discount program aimed at clearing out inventories of leftover 2012 models. Most GM plants take a mid-summer break this month to convert production to the 2013 line-up.
“We have transformed the Chevrolet lineup, so there is no better time than now to reach out to new customers with the love it or return it guarantee and very attractive, bottom line pricing,” said Chris Perry, Chevrolet global vice president of marketing.
Money-back guarantee programs have been the strategy of some automaker companies during the past years. General Motors made a similar buy-back program three years ago in September of 2009 to increase sales as it exited bankruptcy protection. In addition, when unemployment skyrocketed in 2009, Hyundai Motor Corp. let customers return their cars within the first year of ownership if they lost their jobs.
Chevrolet hopes the money-back guarantee program could boost its sales. Chevrolet’s sales grew 6.3 percent to almost 962,000 cars and trucks during the first half of this year. However, the brand is growing at less than half the rate of overall car sales in the US. The total U.S. auto market reportedly grew almost 15 percent in the first half of the year.