Newspaper article THE JOURNAL RECORD

Domestic Manufacturers Revive Incentives/in Battle to Retain Shares of Market

Newspaper article THE JOURNAL RECORD

Domestic Manufacturers Revive Incentives/in Battle to Retain Shares of Market

Article excerpt

Domestic manufacturers are reviving the incentive war - the latest offensive move in which has been Chrysler Corp.'s announcement of 3.7 percent financing - in the automakers' battle to retain and expand their shares of the car and light truck markets.

Chrysler on Tuesday announced car and truck rebates of up to $1,000 and loans as low as 3.7 percent, down from its previous incentive rate of 3.9 percent.

That announcement came one day after Ford Motor Co. announced loans as low as 3.9 percent, rebates of up to $600 on some light trucks, and both on selected cars.

General Motors Corp. announced Jan. 23 that it was offering rebates of $500 to $1,000 and discounts linked to option packages on many of its models, effectively cutting prices.

Here's a summary of the incentive plans:

- Ford incentives are good on cars delivered to customers by March 31 and trucks by March 23.

The Ford program applies to 1986 and 1987 Ford Escort, Tempo and Mustang models, as well as Ranger and Bronco trucks, and 1986 and 1987 Mercury Lynx and Topaz models and 1986 Merkur XR4Ti models.

Ford Motor Credit Co. is offering annual percentage rate loans of 3.9 percent on 24-month contracts; 5.9 percent for 36 months; 6.9 percent on 48-month loans; and 9.9 percent on 60-month contracts.

Ford also is discounting manual transmission models $600 and automatic transmission models $300.

- Chrysler set no expiration date on its rebates and cut-rate loans.

Chrysler Credit Corp. will offer annual percentage rate loans of 3.7 percent on 24-month contracts; 5.9 percent on 36-month loans; 6.9 percent for 48 months; and 9.9 percent for 60 months on certain 1986- and 1987-model cars and trucks.

Rebates range from $300 on certain subcompact Dodge and Plymouth Colt models to $1,000 on Dodge Lancer ES, Chrysler LeBaron GTS and Chrysler New Yorker luxury cars and on the Dodge Ramcharger Sport utility vehicle, the automaker said. …

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