Costco Wholesale Corp. (NASDAQ: COST) and General Motors Co. (NYSE: GM) on Wednesday launched a promotional event for Costco members which includes special pricing on 17 GM vehicles from model years 2014 and 2015. The promotion runs from October 1, 2014, through January 2, 2015.
Costco said that its members purchased more than 21,000 vehicles in a similar promotion last year. In all of 2013, Costco members purchased more than 350,000 vehicles through its auto purchase program. Costco claims a membership total of more than 45 million in the U.S.
For comparison, AutoNation Inc. (NYSE: AN) sold 292,922 new vehicles in 2013 at its 228 operated stores and 269 franchisees.
In addition to a Costco Cash card worth $600 to Executive members and $400 to Gold Star and Business members, all GM’s rebates and incentives will also be applied to during the promotion period at the more than 3,000 U.S. dealerships in Costco’s network. The vehicles are priced at GM’s supplier pricing level
Included among the cars available on this offer are the all-electric Chevy Volt and Cadillac’s plug-in hybrid ELR. GM’s best-selling Chevy Silverado and GMC Sierra pickup trucks are also included.
Costco noted that it surveys every one of its members who purchase a vehicle through the company’s auto purchase program and that more than 96% give it “high marks for value and service.”
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