General Motors Corp. begins its summer sales incentives in earnest with 0% financing on most ’06 vehicles through Sept. 5, as the auto maker looks to scale down bloated inventory.

The incentives come less than two weeks after a previous GM offer concluded for most of its brands.

The incentives include no interest for 36 months on most ’06 Chevrolet, Buick, Pontiac, GMC, Saturn and Saab vehicles. An offer of 0% financing for up to 60 months on certain Hummer and Cadillac models, available since July 5, will continue through July 5.

The offers do not include the Pontiac Solstice and Chevrolet Corvette.

Incentives extend to some ’07 vehicles, including the Chevrolet Tahoe, Suburban and Avalanche as well as the GMC Yukon and Yukon XL. These vehicles are eligible for $2,000 trade-in assistance and $1,000 dealer cash, with financing rates ranging from 3.9% for 36 months to 6.9% for 72 months.

Despite the seasonal incentives, GM pledges to stay away from money-losing, across-the-board deals, such as last year’s “employee discounts for all” scheme.

“There is no nationwide blowout sale,” GM says in a statement. “These actions are consistent with our ‘go-to-market’ strategy of using limited, strategic and tactical incentive programs to remain competitive in the marketplace.”

Through June, GM sales were down 12.3% from year-ago. GM has warned this summer’s sales figures will fall well short of last season due to fewer discounts.

GM previously offered 0% financing from June 29-July 6 for Chevrolet, Buick, Pontiac and GMC brands. The 0% financing covered loans up to 72 months on many ’06 models.