The Industry's Leading Source For F&I, Sales And Technology

Top News

GM, Ford Boost Incentives on Some New Cars, Trucks

November 19, 2003

With six weeks left in the year, the world's two largest automakers sweetened deals Nov. 18 on some new cars and trucks in hopes of a late sales spurt to retain slipping market share, according to the Detroit News.

With a nod to its past, Ford Motor Co. reintroduced the $5-a-day, 48-month lease on the Mustang V-6 coupe during a ceremony at the Dearborn assembly plant where the famous pony car is built.

At General Motors Corp., customers who purchase a new vehicle with a GMAC loan -- with a term of 60 months or less -- can defer their payments for 90 days. The deal covers all 2003 and 2004 cars and light duty trucks, except the Hummer H1, according to GM spokeswoman Deborah Silverman. The offer ends Jan. 2.

"It's part of an ongoing strategy to remain competitive in the marketplace," Silverman

told the News. "It's another tool we're using."

GM and Ford are making an end-of-year push to clear inventories and reach sales and market share

targets, according to the News.

DaimlerChrysler AG's Chrysler Group, which has resisted pressure to match incentives at GM and Ford, reversed course, according to the News, and has extended an enhanced lease program to include the new $35,000 Crossfire sports car with monthly payments as low as $399.

U.S.-based automakers have increased incentives -- from an average of $2,338 in 2002 to $3,505

this year, according to Autodata Corp.

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email: