G.M. TO CUT PRICES ON HALF ITS AUTOS TO BOLSTER SALES
The Gener al Motors Corpo ration said today that it would reduce the prices of some cars and t rucks sold over the nexttwo months, for the most part by $750 or less . The reductions, which range from $500 to $2,000, come despite failure to obtain wage and benefit concessions from G.M.'s unionized factory workers to offset the price cuts. The company, the only domestic auto maker not currently offering financial incentives to car buyers, said the price reductions would be effective for 60 days, starting Feb.1. They would be available for about half of G.M.'s car and truck models. Roger B. Smith, chairman of G.M., said that, in the face of the worst sales slump in 21 years, there was ''a critical need in the marketplace for some kind of market stimulus.'' Earlier this month, G.M. had agreed in principle to a United Automobile Workers proposal to pass wage and benefit concessions along to consumers in the form of lower vehicle prices. Contract negotiations broke down last night, however, and a union
