FORD MOTOR COMPANY (TM) BLINKS; OPENS THE CREDIT TAP
Throw all of the "poo-pooing" of Detroit's addition to incentives and sober pledges to kick the habit out the window in favor of "real transaction pricing."
FoMoCo is ratcheting up "the deal" to clear out its bloated 2006 backstock.
According to Automotive News, Ford "will crack open the incentives vault for a month-end sales blitz that will offer 0 percent financing for as much as 72 months for Ford, Lincoln and Mercury buyers, including those with subprime credit ratings."
The newest volley in the incentive war kicks off Thursday, August 24th, and will run through Labor Day weekend. It will cover virtually all 2006 models, except the Ford GT and a few SuperDuty trucks, according to the report, " even ones in tight supply."
More significantly, FoMoCo seems to be traveling a ways down the failed road taken by Mitsubishi. "Zero percent financing will be available to customers with subprime credit ratings, not just customers in the top two tiers, as in past programs."
How "subprime" remains an open question.
Production cuts, extending warranties (although still not as "Bold" as the Koreans), buyouts offered company-wide, early release of the 2008 SuperDuty, possibly peddling Jaguar and Land Rover, rumored renewal of the talks with Carlos Ghosn . . . and now give-a-way financing . . . apparently there's real desperation setting in at the Glass House . . . .
Throw all of the "poo-pooing" of Detroit's addition to incentives and sober pledges to kick the habit out the window in favor of "real transaction pricing."
FoMoCo is ratcheting up "the deal" to clear out its bloated 2006 backstock.
According to Automotive News, Ford "will crack open the incentives vault for a month-end sales blitz that will offer 0 percent financing for as much as 72 months for Ford, Lincoln and Mercury buyers, including those with subprime credit ratings."
The newest volley in the incentive war kicks off Thursday, August 24th, and will run through Labor Day weekend. It will cover virtually all 2006 models, except the Ford GT and a few SuperDuty trucks, according to the report, " even ones in tight supply."
More significantly, FoMoCo seems to be traveling a ways down the failed road taken by Mitsubishi. "Zero percent financing will be available to customers with subprime credit ratings, not just customers in the top two tiers, as in past programs."
How "subprime" remains an open question.
Production cuts, extending warranties (although still not as "Bold" as the Koreans), buyouts offered company-wide, early release of the 2008 SuperDuty, possibly peddling Jaguar and Land Rover, rumored renewal of the talks with Carlos Ghosn . . . and now give-a-way financing . . . apparently there's real desperation setting in at the Glass House . . . .
posted by Editor at 10:42
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