A Ford Motor Co. spokesman said today the auto maker has extended its current buyer incentive program by 48 hours as it studies competing new offers from rival car makers.
Buyer offers on most Ford vehicles, last amended Dec. 20, were to have expired today. With the extension, the incentives will expire at midnight Wednesday.
Both General Motors Corp. and Chrysler Corp. extended and revised their vehicle buyer programs last week. GM extended offers on most models until May 2, while Chrysler renewed its guaranteed rebate offer on a wide variety of its models until Feb. 28--but dropped the $1,000 rebate on its popular minivans.
"We are still examining the competitive structure," Ford spokesman Jim McCraw said, adding that Ford will announce a new program Wednesday or Thursday.
Ford's current program offers an average of about $1,000 back per vehicle, with financing ranging from 6.9% to 10.9% annually.