Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (27715)	1/24/2003 2:37:50 AM
From: elmatador	of 74559

GM, Ford Rev Up Incentives Thu January 23, 2003 07:09 PM ET By Michael Ellis DETROIT (Reuters) - General Motors Corp. GM.N and Ford Motor Co. F.N escalated their price war on Thursday, offering costly new consumer incentives to lure buyers amid signs of slowing U.S. vehicle sales, officials said. GM, the world's largest automaker, said it would waive up to five months of remaining lease payments to its current customers if they opt for a new vehicle. Ford began quietly offering cash payments of $500 to $1,000 to dealers to boost sales of some of its popular Ford brand vehicles. GM and Ford also raised cash rebates by $500 on most of their full-size pickup trucks to $2,500. Jay, things haven't changed. Couple this piece of news above and the fact that Americans are increasingly starting houses. Which means they are constructing collateral for more mortgages.

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