General motive is aiming to boost sales of electric vehicles (EVs) including vehicles Cadillac Lyriq SUV by expanding its partnership with the retail powerhouse Costco.
Costco has been facilitating new vehicle sales through its Costco Auto program since 1989, offering members discounts and special offers on select makes and models. GM has participated in the program in the US since 2011.
GM is currently leveraging its partnership with Costco Auto in the US to sell electric vehicle models such as Chevrolet Equinox EV And Blazer EV And Cadillac Lyriqthe latter is will be coming Down Under later this year.
Costco members across the US can now get $1000 off (AU$1515) on Chevrolet and Cadillac electric crossovers until July.
“Our members always love new things, and electric vehicles are completely new to the market,” said Jay Maxwell, general manager of the Costco Automotive Program responsible for strategic partnerships. CNBC.
“This is a great way to [automakers] to market and showcase their electric vehicles to interested people. Costco has a very strong demographic and is a great fit for electric vehicle buyers.”
“There are some pretty strong incentives going on in the market right now for electric vehicles, so on top of that, they get that added value.
“It really is an attractive proposition for those considering buying an electric vehicle.”
In addition to partnering with manufacturers, Costco Auto also partners with franchised dealers as part of its Everyday Auto program.
CNBC New car deals reports are typically made available every two to three months, with manufacturers and dealers paying Costco Auto a subscription fee to get the deals in front of Costco members .
The retail giant said that since 2019, it has facilitated an average of 500,000 vehicle sales per year in the US.
Used car sales, service and maintenance also fall under the Costco Auto banner.
Volvo and Polestar also offer their vehicles through Costco Auto in the US.
Australian branch of Costco established a similar joint venture late last yearcalled AutoConnect.
As a joint venture with car broker Autoreviewa, Autoconnect allows Costco warehouse club members in Queensland, New South Wales and Victoria to buy cars from a selected list of vehicles online at discounted prices .
In addition to drive-away savings, Costco members who purchase a car through Autoconnect can also receive coupons to use in-store.
Vehicles from Ford, GWM, Jeep, Kia, LDV, Mazda, MG, Renault and Suzuki are among those already being offered for sale by dealers through the Autoconnect platform.
Cadillac will officially launch here this year with a product line that runs only on electricity. So far they’ve only confirmed the Lyriq for the Australian market, but Cadillac has revealed a whole range of electric SUVs including Optiq, Vistiq And Escalate iQ.
They will sell the cars through two Experience Centers: one in Sydney, one in Melbourne. More retail locations will follow.
Cadillac sold 355,000 vehicles globally in 2023, accounting for 3.0% of the global luxury car market.
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