Ford Launches New Program of Incentives

Ford Motor Co., acknowledging that U.S. vehicle sales would “hit the skids” without buyer lures, announced Tuesday yet another incentive program designed to clear its remaining inventories of 1989 models.

The program, which replaces one that expired July 31, raises the cash rebates on several car and truck lines, with $1,000 or more offered on 21 models and between $300 to $750 back on 13 others.

The rebates are paid directly from Ford to car buyers, with no dealer participation required, the No. 2 car maker said.

“Incentives are a way of life. . . . Everybody’s in the game,” said Thomas Wagner, general manager of the Ford division. “Nobody can figure out how to get away from them without the market hitting the skids for a long time.”

Estimates Lowered

Ford follows industry leader General Motors Corp. and third-ranked Chrysler Corp. in sweetening buyer promotions that were last changed in the spring.

But despite the better deals--which have cut heavily into auto makers’ profits--U.S. car and truck sales have been declining this year, forcing industry executives to lower earlier estimates from more than 15 million units to about 14.7 million vehicles.

“We kind of bet on the market earlier this year, but it has not jumped as we thought it would,” Wagner said.

Last year, 15.8 million cars and trucks, including imports, were sold in the United States.

Meanwhile, Ford announced that its Atlanta assembly plant will be idled from Aug. 7 through Aug. 16 because of slow dealer orders.