Big 3 offer interest-free financing on 2006 cars

The Big Three U.S. automakers are extending 60-month, no-interest financing offers on key vehicles as part of an effort to cut down on the number of 2006 models on their dealers’ lots as the 2007 models arrive.

General Motors Corp. said it would offer the financing on 2006-model large sport utility vehicles until Dec. 2. Ford Motor Co. said it would offer the loans on selected 2006 F-150 pickups until Jan. 2 and would boost incentives on 2007 F-Series trucks. Chrysler Group extended interest-free financing on most of its 2006 models until Monday.

Despite gains reported in October, year-to-date sales for the Big Three have fallen as rising gasoline prices have slashed demand for the light trucks that account for a majority of their sales.

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John O’Dell

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* Salaried workers at Ford Motor Co. won’t get pay raises next year and they’ll pay more for health insurance under benefit changes announced by the struggling automaker. In addition, Ford will stop providing health insurance for Medicare-eligible salaried retirees over 65 starting January 2008.