GM to Offer Free Oil Changes on Most 2014 Models

DETROIT (AP) -

General Motors says it will offer free oil changes, tire rotations and inspections for two years on most of its 2014 models, in an effort to boost customer loyalty.

The company announced the offer at its annual stockholders’ meeting in Detroit on Thursday.

The offer is good for two years or 24,000 miles, whichever comes first. Oil changes will be done when the vehicle’s oil-monitoring system says they are needed.

Previously, oil changes were only covered for Cadillacs sold since the 2011 model year.

In other GM news, the U.S. Treasury Department says it has set a price of $34.41 per share for the sale of 30 million shares of General Motors stock.

Treasury said the sale will result in aggregate proceeds to the government of $1.03 billion. A United Auto Workers retiree healthcare trust fund was selling 20 million of its GM shares as well, bringing total sales to 50 million shares.

Treasury set the price for its stock after the markets closed on Thursday. GM stock closed Thursday at $34.44 per share.

The public offering will help accelerate the government’s exit from GM stock, which it got in exchange for a $49.5 billion bailout of the company in 2008 and 2009.