GMRA Position on Preferred Pricing Program 12/9/09

General Motors recently announced a new "Preferred Pricing" program that will go into effect Jan. 5, 2010. Under the new program, the pricing discounts available to GM employee and retiree vehicle purchases will be eliminated. The new program will involve one formula that will apply to purchases by GM employees, retirees and suppliers. Although a new added incentive referred to as an Employee Vehicle Allowance may be available on some vehicle purchases, it is GMRA's position that the new formula will reduce buying power of retirees and represents one more benefit loss.
Details of the program are available at the gmfamilyfirst.com site