GM, Ford Jack Up Some Rebates To $5,000

[hatrack]

DETROIT - General Motors Corp. and Ford Motor Co. on Wednesday stepped up their incentives battle, dangling up to $5,000 in cash for the purchase of some vehicles in the wake of disappointing sales in June.

The new offers were widely anticipated by analysts, who said the costly enticements are needed so that the nation's two largest automakers can clear out bloated inventories and try to stem declining market share.

No. 1 GM raised cash rebates to $5,000 on most 2004 trucks and sport utility vehicles, and to $4,000 on most cars. The automaker also is offering interest-free financing for five years on most 2004 vehicles. The program runs through Aug. 2.

No. 2 Ford raised cash offers by $1,000 to $5,000 on the 2004 Freestar minivan and to $4,000 on the four-door 2004 Explorer SUV. Interest-free financing for up to 60 months is available on a number of models, including the Crown Victoria, Focus, Taurus and F-150 Heritage. Ford's new deals are good through Sept. 30."

EDIT

[Massacure]

1. With high gas prices, most people won't touch a SUV with a 10 foot pole.

European and Japanese cars are looking mighty tempting right now. That's a good thing though. It's better for the envrionment, and the Big 3 deserve to loose business if they are that arrogant.

[NewYorkerfromMass]

2. More proof the ProfessorGAC is correct

the economy is NOT what they say it is.

[SoCalDem]

3. all that proves, is that they have overpriced their vehicles to start with

:)

The best way to buy a vehicle is to find a good used one that you can pay cash for.. Drive it til it costs too much to fix and get another one.:)

[NNN0LHI]

4. I am a Ford retiree and can purchase new vehicles on the A-Plan

Which is below the dealers cost. So it is very tempting for me to buy new vehicles. But I don't. I agree with your suggestion 100%. Purchase a cheap used car and drive it until the wheels fall off and then find another one. Yep. Its the only way to go.

Don

[havocmom]

5. How long before brilliant CEOs figure out they can't sell much

to a population which sees good jobs getting outsourced and terrible jobs touted as sign of a recovery?