General Motors ( GM ) announced plans Tuesday to cut prices on most of its models in an effort to win back customers without using the promotional incentives that wreaked havoc on its profits last year. GM said 57 of its 76 models will be eligible for price reductions averaging $1,300 and going as high as $3,000. The move, effective Wednesday, covers every Chevrolet, Buick and GMC model, as well as most Pontiac cars and trucks. "This is a big step for us and arguably the biggest price repositioning in our history," said Mark LaNeve, GM's vice president of North America vehicle sales, service and marketing, in a statement. "This move is in line with our customers' desire for simple, compelling prices." After a disastrous year in 2005, GM is attempting to revitalize its top line with discounts in order to stem the flow of its market share to foreign-based competitors such as Toyota ( TM ) and Honda ( HMC ). "This is a gutsy move by GM," says Burnham Securities analyst David Healy.