By Joe Benton
ConsumerAffairs.com
October 4, 2006
Ford Motor Co. will offer low-rate financing deals on
many 2007 model-year vehicles and interest-free loans
on its 2006 vehicles to boost sales.
Ford is calling the sales promotion the "Truck Month" campaign and is offering zero percent loans for 60 months on its 2006 pickups, including the F-series lineup, in an effort to clear its bloated inventory.
Ford also plans to offer a loan rate of 2.9 percent for 60 months on 2007 model year F-series Super Duty and Ranger pickups or a $2,000 cash rebate on these vehicles.
Ford has cut fourth quarter production by 21 percent to reduce swollen inventories of unsold vehicles.
Toyota has taken aim at American dominance of the U.S. truck market, introducing new Tundra and Tundra long-bed pickups.
Ford Motor, General Motors, and Dodge together hold more than 90% of the U.S. full-size truck market. The Ford F-series leads the segment with sales of 546,000 full-size trucks through August.
The new Tundra is scheduled to come to market in February and will be available in both a regular and double cab. The long-bed version features a bed that's 8 feet, 1 inch long and that is 19 inches longer than a standard bed. The Tundra has a tailgate that's lockable, removable and comes with four corner tie-downs.
Toyota will also offer a 5.7-liter V8 that can tow more than 10,000 pounds.
The full-sized pickup truck is just about the last profitable segment left to U.S. automakers.
