GM to trim lease deals for 3 of its brands

In another sign that the auto industry is pulling away from lease deals, General Motors Corp. is cutting back incentives on new GMC, Buick and Pontiac vehicles.

Dealers learned Monday that the only lease deal they'll have to offer for those brands through GM's partially owned financial arm GMAC will be on the Pontiac G6, said Russ Shelton, owner of Shelton Pontiac Buick GMC in Rochester Hills.

The narrowed leasing incentives start Wednesday. It is unclear what kind of leasing deals GM will support for other brands, including Chevrolet, Saturn and Hummer.

GM spokesman John McDonald said he couldn't comment on specific deals.

GM expects to announce today details of its plan to offer its employee discount to all customers.

"Leases, for a long time, have been supported at below-market rates. We're not able to financially support leases at below-market rates when the residuals have eroded as much as they have," McDonald said.