Car buyers stateside can look forward to a new range of cut-price deals, with the news that General Motors and Ford Motor Company have rejoined their incentives battle.
The two auto giants originally used special offers such as 0% financing and cash-back to maintain demand and market share in the wake of September 11, but abandoned several such promos earlier this year as sales picked up.
However, in a surprise manoeuvre GM has reintroduced ‘zero financing’ following a 12% sales slump in May. It is offering five-year no interest loans on several new models until September.
GM’s move elicited an immediate response from Ford, which introduced cash-back rebates of between $1,500 (€1,534; £984) and $2,500 on most new models, again until September. Ford suffered a 10.6% year-on-year drop in June sales.
Data sourced from: Financial Times; additional content by WARC staff