GM Finalizes Pilot Plan To Sell New Vehicles On EBay

GM is selling New Vehicles On EBay

General Motors Co. is going to launch program with eBay Inc. at potentially introducing a new way for buyers to see GM vehicles.

Following its exit from bankruptcy protection this will allow consumers to place online bids for new vehicles from about 225 of California's 250 GM dealers.

The trial will run through Sept. 8 at gm.ebay.com.

Through eBay's "Buy It Now" and "Best Offer" formats, the site also will allow consumers to compare pricing on all makes and models or participating dealerships and get tips and advice while determining trade-in values and whether their current vehicle may also qualify for the government's "cash-for-clunkers" incentive program.

When GM emerged from bankruptcy protection in July, they said they would realign sales and marketing functions. The CEO had said GM was testing a new online auction system with eBay that would enable customers to bid on actual vehicles just like they do in an eBay auction, including the option of choosing a predetermined "buy it now" price. Now they have put the plan in motion.

J.D. Power & Associates study that said there was an increase of 5% year over year of new-vehicle buyers in 2008 compared to 2007. 75% used the Internet during their shopping and research process, compared with 70% in 2007. The study also found that 2008 marked the largest year-over-year increase in online automotive shopping since 2001.

I'm sure they're not gonna hold payment to GM. Well at least I hope they don't.