Big Three Auto Makers Count on Rebates, Financing Bargains to Sell More Vehicles

The Big Three automakers, facing fatter

inventories and a shrinking market, are sweetening the pot with more discounts, including deals on important vehicle lines, according to the Wall Street Journal.

Ford Motor Company has cut the financing rate on the redesigned 2002 Explorer, and is offering an interest rate of 3.9 percent for 36 months, down from the previous 5.9 percent rate.

DaimlerChrysler AG and General Motors Corporation are also offering deeper discounts on some models. Industry analysts worry that

profits could suffer more, particularly as Japanese and European automakers target the high-profit sport-utility vehicle and luxury vehicle segments, according to the Journal.