|
Ford Motor Co. said Wednesday its latest consumer incentives program includes higher cash rebates and lower interest rates on some new models, matching moves by rival General Motors Corp. Enhancements to Ford's latest program include customer cash increases of $500 on the new Freestar minivan and Expedition and Excursion sport utility vehicles. Rebates are now worth $2,500 on the purchase of a 2004 Freestar, $3,000 on a 2004 Expedition and $3,000 on a 2004 Excursion with a gasoline engine.
Most financing and rebate offers were carried over from the previous program. The new deals run through March 31.Last week, GM added SUVs and pickup trucks to those vehicles eligible for interest-free loans for up to five years.
GM's latest program, which also runs through March 31, features zero-percent financing for 60 months on most new 2004 cars and trucks. Excluded from the offer are Cadillac models, the Chevrolet SSR, Hummer H2 and Pontiac GTO.
GM chairman Rick Wagoner and Ford chairman Bill Ford have said they hope an improving economy and other factors will allow them to back off a bit on profit-dwindling incentives this year, but they were prepared to do what's necessary to stimulate sales.
Also last week, DaimlerChrysler AG's Chrysler Group, the No. 3 U.S. automaker behind GM and Ford, announced a new incentive program that offers zero-percent financing for 48 months plus a $2,000 cash rebate on nearly all Dodge, Jeep and Chrysler models.
Chrysler also offers interest-free financing for five years on many models. Buyers can get 72-month, interest-free financing on minivans. Cash rebates of up to $4,500 also are available.
|
