Dealer Includes 50 Shares of GM Stock with Purchase
By Stephen Markley
March 5, 2015
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We’re not sure what’s a tougher sell right now: A GM car or GM stock. Will Churchill, owner of Frank Kent Motor Co. in Fort Worth, Texas, has decided to put a bow on both of them by offering the first 100 customers to buy a car this week 50 shares of GM’s low-valued stock.
Valued at $6.43 a share, Churchill and his wife bought 5,000 shares last week, so the stock incentive will be worth about $321 to a customer. The idea, according to Churchill, is that as the car depreciates, the owner will at least have an asset that will — ahem — appreciate in value.
Then again, it’s often easy to make fun of an automaker. But let’s suppose that in two years the Volt is a smashing success and the automaker’s stock prices soar. The 100 car buyers in Fort Worth might look like fairly savvy investors.