DETROIT, Jan 30 (Reuters) - General Motors Corp. said on Thursday it was ratcheting up consumer incentives on many of its most popular sport utility vehicles and vans, escalating Detroit's price war.
The world's largest automaker was raising cash rebates by $500 to a total of $2,500 on the highly profitable Chevrolet Tahoe, Suburban, Trailblazer, and GMC Yukon, Yukon XL, Envoy and Oldsmobile Bravada SUVs.
GM, which raised cash rebates on most of its full-size pickup trucks earlier this month, said it was also boosting cash incentive by $500 to $2,500 on its Savana and Express vans.
GM is considered the leader in the incentives battle that has offset weak consumer confidence and bolstered U.S. auto sales since the Sept. 11 attacks.
Wall Street analysts said GM's sales are thought to have fallen about 10 percent this month, however, due to its heavy discounts and strong results at the end of last year, which pulled some sales ahead.