GM Lowers MSRP on Select 2006 Models

DETROIT, Aug 1, 2005; Reuters reported that General Motors Corp., which typically uses big discounts to drum up sales, on Monday said it was cutting sticker prices on many of its 2006 model-year vehicles in a new twist in Detroit's long-running price war.

GM's new "Total Value Promise" strategy is aimed at weaning car buyers away from big rebates and discounts by offering lower sticker prices and highlighting the value and quality of its vehicles.

As outlined by GM's Chief Financial Officer John Devine on a conference call last month, the strategy will also include increased vehicles features.