Automakers announce incentives
DETROIT (AP) – Ford Motor Co. announced its latest round of zero-percent financing and cash-rebate offers on 2003 models Monday, three days after General Motors Corp. made its latest sales push. Effective Tuesday and continuing through Feb. 28, the world’s No. 2 automaker is offering the following:
Zero-percent financing for up to 60 months on Ford Taurus and Windstar or $3,000; Zero-percent financing for up to 48 months on Ford Focus or $2,000; Zero-percent financing for up to 36 months on Ford Mustang or $1,000; Zero-percent financing for up to 36 months on Ford Explorer four-door or $2,000; Zero-percent financing for up to 36 months on Ford Escape or $1,000; Zero-percent financing for up to 60 months or $3,000 on Ford Ranger.
GM announced cash rebates Friday on most 2003 models.
GM’s aggressive incentives last month contributed heavily to a strong December for U.S. vehicle sales industrywide. Detroit’s Big Three – GM, Ford and DaimlerChrysler AG’s Chrysler Group – saw December sales of light vehicles rise 21 percent compared with the same month last year.
But a lingering concern among investors and analysts is how much the deals are cutting into profits and whether they’ll lead to soft volume in the coming months.
In trading Monday morning on the New York Stock Exchange, Ford shares were up 16 cents to $9.84 each.
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On the Net:
Ford Motor Co., http://www.ford.com