Ford To Continue Incentive Programs Through Sept. 2

CHICAGO July 8, 2003; Ann Keeton writing for Dow Jones reports that Ford Motor Co. said Tuesday it would continue its current vehicle-incentive programs through Sept. 2. The offers to new-car buyers include cash rebates of up to $4,000, 0% financing for up to 60 months for many models, and bonus cash programs for Taurus, Ranger, Windstar and Excursion models. The company said it also extended a $750 military-appreciation discount.

Earlier Tuesday, General Motors Corp. said it would extend similar summer incentives through July 31.

U.S. auto sales have been sluggish this year despite an unprecedented level of special offers from auto makers. Ford last week reported June sales that were about flat with a year ago, adjusted for the number of selling days.

The company said it expects the second half of the year to see stronger sales as the U.S. economy improves.

In the first six months of the year, Ford said two vehicles had double-digit percentage sales increases. Expedition sales rose 17% over last year, and Escape sales were up 14%.