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Ford Kicks Off Late-Summer Zero Percent Car Sale

August 23, 2006

• Truck and SUV Sales Plunge in August • GM Aims High-Mileage Cruze At U.S. Market • GM Offers Employee Prices to Spur Slow Sales • U.S. Consumers Favor Japanese and German Automakers • Automakers Report Huge Drop in Sales • GM Cuts Prices for February • Toyota Sales for 2007 May Surpass GM • New GM Sale May Challenge Bargain Hunters • GM Hangs on as World's No. 1 Automaker • Saturn Outlook Gets High Marks from Consumer Reports • Summer Car Sales Start to Sizzle • Consumer Reports Lists Best New Car Deals • Chrysler Dumps Remaining 2006 Inventory on Used Car Market --- • More about Auto Sales ...

Ford Motor plans a zero percent loan sales promotion through Labor Day offering no-interest financing for as much as 72 months for Ford, Lincoln and Mercury buyers. The promotion will include loans to people with sub-prime credit ratings.

The no-interest sale will be available on nearly all 2006 model vehicles, even vehilces in tight supply.

Zero percent financing will be available to customers with sub-prime credit ratings and not just customers in the top two credit tiers as has been the case with past programs.

Ford will not offer zero percent financing on the Ford GT super-car and some larger F-series work trucks.

Ford is struggling with a hefty inventory with 593,100 units in stock. The automaker also plans to cut fourth-quarter production by 168,000 units, or 21 percent as Ford continues to struggle with mounting losses.

Toyota outsold Ford for the first time ever in July as Ford cut back on sales to fleet customers, which had padded its true performance.

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