Ford, GM Raise Car and SUV Incentives
From Reuters
General Motors Corp. and Ford Motor Co. sweetened incentives to lure consumers back to car dealerships after both U.S. automakers suffered double-digit drops in June vehicle sales.
GM said it had raised cash rebates it offered on most of its sport utility vehicles to $5,000, and to $4,000 for most cars for the 2004 model year.
Ford raised its incentives by $1,000 to a total of $4,000 on some of its SUVs, including the four-door Ford Explorer. GM’s sales dropped 15% in June, and Ford results fell about 11%, excluding its import brands.
GM shares fell 33 cents to $44.22, and Ford was unchanged at $14.96. Both trade on the NYSE.
