Ford Announces New Auto Incentives, Matching GM

[Ming]

Ford announces new auto incentives, matching GM

DETROIT (AP)

Ford Motor Co. said Wednesday its latest consumer incentives program includes higher cash rebates and lower interest rates on some new models, matching moves by rival General Motors Corp.

Enhancements to Ford's latest program include customer cash increases of $500 on the new Freestar minivan and Expedition and Excursion sport utility vehicles. Rebates are now worth $2,500 on the purchase of a 2004 Freestar, $3,000 on a 2004 Expedition and $3,000 on a 2004 Excursion with a gasoline engine.

Most financing and rebate offers were carried over from the previous program. The new deals run through March 31.

Last week, GM added SUVs and pickup trucks to those vehicles eligible for interest-free loans for up to five years.

GM's latest program, which also runs through March 31, features zero-percent financing for 60 months on most new 2004 cars and trucks. Excluded from the offer are Cadillac models, the Chevrolet SSR, Hummer H2 and Pontiac GTO.

GM chairman Rick Wagoner and Ford chairman Bill Ford have said they hope an improving economy and other factors will allow them to back off a bit on profit-dwindling incentives this year, but they were prepared to do what's necessary to stimulate sales.

Full Article Here

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Observations:

Didn't the Freestar just come out? 2500 already? I hope no one honestly thinks that their resale value has anything to do with the MSRP....the MSRP clearly doesn't mean much if the vehicle is sold with those kind of rebates out of the gate.

And the Excursion's 3000 dollars for the gasoline engine powered version....I guess that's the equivalent of the free first tank of gas. :P

[Mr_Pringle]

Originally posted by Ming@Jan 15 2004, 03:02 PM
Didn't the Freestar just come out? 2500 already? I hope no one honestly thinks that their resale value has anything to do with the MSRP....the MSRP clearly doesn't mean much if the vehicle is sold with those kind of rebates out of the gate.

Have you seen the Freestar? Do you seriously think they could sell many of them without large rebates?

[Ming]

Originally posted by Mr_Pringle+Jan 15 2004, 05:51 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Mr_Pringle @ Jan 15 2004, 05:51 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Ming@Jan 15 2004, 03:02 PM
Didn't the Freestar just come out? 2500 already?&nbsp; I hope no one honestly thinks that their resale value has anything to do with the MSRP....the MSRP clearly doesn't mean much if the vehicle is sold with those kind of rebates out of the gate.

Have you seen the Freestar? Do you seriously think they could sell many of them without large rebates? [/b][/quote]
:lol: Good point.