The Chrysler side of DaimlerChrysler AG said on Jan. 3 it will not match General Motors Corp.'s
new "GM Overdrive" $2,002 cash rebate program for purchases or leases on most GM vehicles, according to a Reuters report.
Chrysler Won't Match New GM Incentives
by Staff
January 4, 20021 min to read
The new GM program, announced on Jan. 3, replaces the automaker's successful "Keep America Rolling" zero percent interest loan offer made soon after the Sept. 11 terrorist attacks on the United States to boost sales and bolster consumer confidence.
Jim Schroer, executive vice president of sales and marketing with Chrysler, told Reuters the new GM program was too broad in its scope and would waste money. "We will not make an across-the-board discount giveaway," Schroer told Reuters at the Greater Los Angeles Auto Show. "It gets you the maximum short-term sales
lift. But that doesn't maximize sales or profits over time," he said. "It wouldn't be in the best interests of our shareholders to do that."
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