Today Hot Report

DETROIT — As a possible antidote to the continuing slump in domestic auto sales, General Motors said it will kick off a zero-percent financing sale on Tuesday that includes many of its premium models, such as the Cadillac Escalade and STS. The Detroit automaker also said it is increasing prices by an average of 3.5 percent on its 2009 models.

GM’s new 72-Hour Sale, which runs through June 30, offers hefty rebates on such vehicles as the 2008 Chevrolet Tahoe (pictured), 2008 Cadillac Escalade and 2008 Saturn Sky. (Photo courtesy of General Motors Corporation)

The price increases are designed “to recover a portion of GM’s increased commodity costs, increased content and fuel-economy technology,” the automaker said Monday in a statement. GM would not discuss specific price increases on specific models, but said “the average increase is just over $1,000.”

“This price increase will not affect vehicles already in dealer inventory,” GM said. “The price increase takes effect with the new 2009 model-year vehicles as they begin production and are distributed to dealers.”

The new GM sales program, dubbed the “72-Hour Sale,” offers buyers zero-percent financing for up to 72 months. It runs through June 30. GM said the new program excludes all 2007 models and 2009 models, all hybrids, and such vehicles as the 2008 Buick Enclave, 2008 Cadillac CTS and 2008 Chevrolet Corvette.

The vehicles covered by the 72-Hour Sale include all 2008 Cadillac Escalade models, the Cadillac SRX, STS and DTS. Also covered in the new zero-percent financing sale are the 2008 Saturn Aura, Sky and Vue, as well as the 2008 Saab 9-7X and 9-3 convertible. A number of GM trucks and SUVs are included in the program, such as the Chevrolet Tahoe, GMC Yukon and Hummer H2.

What this means to you: A mixed bag of news from the General. You’ll get a good deal on many of its outgoing models, but be prepared to pay more if you’re holding out for the ‘09 vehicles. — Anita Lienert, Correspondent