Ford Matches Rivals, Extends 0% Financing to Many 2003 Models

September 6,2002

DETROIT --Jocelyn Parker writing for the Dow Jones News service reported that Ford Motor Co. Friday matched General Motors Corp. (GM) and DaimlerChrysler AG (DCX) by offering zero-percent financing for 36 months on several 2003 model-year vehicles.

Ford also said it will continue offering interest-free financing for 60 months on most 2002 vehicles.

The new incentives will run from Sept. 6 through Sept. 30.

Ford is now offering zero-percent financing and cash rebates up to $2,000 on the 2003 Taurus, Crown Victoria, Windstar, Mustang, F-150, Excursion and F- Series Super Duty.

Earlier this week, GM and Chrysler said they were extending zero-percent financing on 2003 models in an effort to keep sales strong. The auto makers resurrected interest-free financing in July after tepid results in May and June.

Sales increased about 13% last month on heavy discounting.

GM and Chrysler, however, have scaled back on discounts for 2002 models as they have cleared out much of that inventory.