DaimlerChrysler Offers Zero-Interest

DETROIT AP reported today that all three U.S. automakers have extended until early next year their no-interest finance offers.

The Chrysler arm of DaimlerChrysler AG on Monday followed General Motors Corp. and Ford Motor Co. [NYSE:F - news] in extending its no-interest financing plan for the second time.

The DaimlerChrysler zero-percent financing program will be good through Jan. 8, said Mike Rosenau, a spokesman for the automaker. He said dealers were alerted over the weekend.

The offer applies to all Chrysler, Dodge and Jeep vehicles except the Chrysler PT Cruiser, Chrysler Prowler, Dodge Viper, Jeep Liberty, and all Chrysler and Dodge e-minivans (eC, eL, eX).

Ford announced last Wednesday that it was extending its no-interest offer through Jan. 14. Ford said its offer was extended on 36-month contracts for most 2001 and 2002 Ford cars, trucks, sport utility vehicles and minivans. Low-interest rates also were being offered on longer-term contracts.

GM announced last Monday that it was extending its zero-interest finance offer until Jan. 2.

GM's program, called ``Keep America Rolling,'' began Sept. 20 as a way to spur auto sales that were sluggish even before the Sept. 11 terror attacks in New York and Washington. Ford and Chrysler followed suit within days.

Each company's program was scheduled to expire on Halloween. But it was so successful that GM extended its offer to Nov. 18, Chrysler to Nov. 19 and Ford to Nov. 20.

As testimony to the power of the incentive programs, vehicle sales in October rose 27 percent for GM, Ford and Chrysler collectively from October 2000.

In trading Monday on the New York Stock Exchange, DaimlerChrysler shares surged 5.5 percent, or $1.19 a share, to close at $42.14. Ford shares rose 50 cents to close at $17.55, and GM shares rose 44 cents to close at $47.74