While General Motors and Chrysler begged for multibillion dollar bailouts to save them from bankruptcy, America’s big automakers pulled out their marketing tricks to sell 2009 model vehicles amid the worst economy in decades. At the end of 2008, it was a buyer’s market for the few buyers who have money.
In November and December 2008, the U.S. House of Representatives, the U.S. Senate, President George W. Bush, the United Autoworkers Union and the chief executives of General Motors, Chrysler and Ford traded threats and warnings about a massive collapse of the auto industry.
In the accompanying panic, automakers strayed from their traditional new model marketing strategy, emphasizing price reductions at least as much as the new features in their 2009 models. With many consumers in worse financial shape than they were, the manufacturers’ suggested retail prices (MSRP) were pushed aside early.
