GM to Extend Warranties

[nygiantzz1]

By TOM KRISHER, Associated Press Writer 51 minutes ago DETROIT - General Motors Corp. is boosting warranties on its cars and trucks, continuing its strategy to lift profits by moving away from incentive-laden deals, a company official said Wednesday. GM was to make the announcement at a 1 p.m. news conference at its Detroit headquarters, but a company official confirmed Wednesday morning to The Associated Press that the warranties would be extended. The official did not want to be named due to the timing of the announcement.GM said only that it would be announcing "a major consumer initiative."In July, Ford Motor Co. extended its powertrain warranties by up to two years on its 2007 Ford, Lincoln and Mercury models.On Ford and Mercury vehicles, the powertrain warranty was raised to five years or 60,000 miles, whichever comes first, up from the current three-year, 36,000-mile bumper-to-bumper warranty.Lincoln powertrain warranties were extended to six years or 70,000 miles, up from the previous four-year, 50,000-mile bumper-to-bumper guarantee.The warranties cover the engines and transmissions and are retroactive to any 2007 models that already have been purchased, Ford said. The automaker also offers similar guarantees on 2006 models still on the lots.

[ToolGuy]

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