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Costco helped sell more than 500,000 cars last year, and now General Motors, which owns the Chevrolet and Cadillac brands, is looking to leverage Costco’s 50 million U.S. members to make electric vehicles available to a wider range of customers.
GM said CNBC On Friday, the company said it was using the Costco Auto program, which charges automakers and dealers a membership fee in exchange for marketing and advertising. Costco members access Through this program, you can purchase a car at a pre-determined price.
“We have a great partnership with Costco and I love the Costco brand, so I’m very excited about Costco,” Marissa West, president of GM North America and a Costco member, told CNBC.
West said EVs are a “huge opportunity” for Costco and GM’s partnership.
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As part of the partnership, Costco members will receive an exclusive $1,000 discount. discount The offer is in addition to any other EV discounts offered by the company or its dealers and is valid through the end of July on any new 2023 or 2024 Chevrolet Equinox, Chevrolet Blazer or Cadillac Lyric EV.
Cadillac Lyriq electric vehicle. (Photo by Roy Rochlin/Getty Images, The Moth)
“There are some pretty strong incentives at work in the EV market right now,” Jay Maxwell, general manager of Costco’s Auto Programs, told CNBC.
Costco has partnered with other automakers in the past. the current Volvo and its Polestar EV brand are offering a members-only $2,000 discount, also available until July 31st.
Related: General Motors stops sharing driving data amid lawsuit
Maxwell said Costco Auto has helped sell an average of more than 500,000 cars per year over the past five years.
This means that Costco contributed to at least 3% of all cars sold in the US from 2019 to 2023.
Maxwell said 7% of requests through Costco Auto last year were for EVs.
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