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Economy Puts Buyers in the Driver's Seat

May 23, 2003

In the market for a new car? Your timing couldn't be better, according to the Post-Standard or Syracuse, N.Y.

Manufacturers and dealers are advertising huge incentives to lure customers into showrooms. Ford and GM, the two largest domestic players in the United States, have recently cut production in an attempt to reduce inventories, the Post-Standard said.

Both manufacturers have a supply of cars good for at least 80 days, at a time when 65 days is considered ideal, according to the newspaper.

The combination of incentives and low interest rates is enough to sell a lot of vehicles, said Paul Taylor, chief economist for the National Automobile Dealers Association (NADA). But then add product quality and dealer improvements in the car-buying experience and the industry could be looking at over 16 million sales during 2003, Taylor said, according to the Post-Standard.

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