updated 3/16/2006 8:16:29 PM ET 2006-03-17T01:16:29

General Motors Corp. is hoping to clear out inventory with a “March Madness” cash incentive program that started Thursday and runs through April 4, tied to the NCAA basketball tournament.

The nation’s biggest automaker is offering $500 to $1,500 in cash back on top of other incentives for 2005 and 2006 vehicles that have been on dealer lots since Nov. 16, said company spokeswoman Deborah Silverman.

GM is offering $500 on cars and small sport utility vehicles and $1,000 cash back on its trucks, full-sized SUVs, the Chevrolet SSR and Cadillac models. Two vehicles — the half-ton extended-cab Chevrolet Silverado and GMC Sierra full-sized pickups — have $1,500 cash bonuses.

GM’s new incentives do not include the Hummer H-1 or Saturn vehicles.

Chevrolet, Buick, Pontiac and GMC will advertise the cash back plan as a “March Madness” offer to coincide with the basketball tournament, she said.

DaimlerChrysler AG’s Chrysler Group did not immediately return a message seeking updated information on incentives.

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Home equity type Today +/- Chart
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