Holden goes for 0.5 per cent finance

GM HOLDEN has reacted to slipping sales of some of its core models by offering a 0.5 per cent finance special offer on vehicle sales for a week from this Thursday, August 9.

The deal is the lowest finance offer ever made by Holden, and follows hard on the heels of the widely advertised Race for Space retail sale.

Holden sales are down 11.3 per cent on the first seven months of 2011, in an overall market up 9.9 per cent.

Last month, the situation deteriorated when Holden sales declined 17.4 per cent compared with July last year, with the company’s two biggest sellers, the locally made Commodore and Cruze, down 32.4 per cent and 40.0 per cent respectively.

The one-week 0.5 per cent comparison rate campaign has been arranged with three finance providers – Esanda, St George Finance and Capital Finance Australia – and covers a term of 36 months.

It applies to all Holden models except Cruze CD, Cruze Equipe and Colorado 4x2, and runs from this Thursday (August 9) to the close of business next Wednesday (August 14).

A similar one-week campaign appears to have paid dividends for Nissan Australia last month, helping the importer to post an 18.2 per cent increase in sales volume in July.

The Nissan offer – 1.0 per cent comparison rate – was offered through the company’s own finance arm.

Holden customers will not be required to put down a deposit, but other terms and conditions will only be published on the Holden website when the deal opens.

Announcing the offer, Holden sales, marketing and aftersales executive director John Elsworth said consumers were the big winners in today’s competitive marketplace.

“Holden is known for its great deals, but for anyone in the market for a new car this is one definitely not to be missed,” he said.

“This year we have already introduced capped priced servicing and now, through our finance providers, a great 0.5 per cent comparison rate that makes it even easier to get behind the wheel of a brand new Holden.”

While Holden’s locally made cars have been hurting in the showroom, several of its imports have been kicking goals.

Barina light car sales are up 95 per cent this year, while another Korean import, the Captiva 5 medium SUV, has jumped 59 per cent, including a one-month increase of 108 per cent in July.

The all-new Colorado ute has been making up for lost time, with sales of the popular 4x4 variant climbing 35.7 per cent last month compared with July last year.

However, Colorado sales are still well down this year due to stock shortages and the late arrival of the new model from Thailand in the wake of last year’s devastating floods.