June 18, 2005
DETROIT (AP) -- In a new gambit to boost slumping sales, Ford Motor Co. is one-upping General Motors Corp. and giving up to $1,000 in cash to employees and retirees who entice friends and family to buy cars and trucks.
Friday's announcement came as early numbers showed a big jump in GM's market share under its new incentive program, which lets all customers use the employee discount rate through July 5.
Ford's program also extends employee discounts to all customers.
The incentive programs followed a sluggish first five months for GM and Ford, as Japanese carmakers and DaimlerChrysler AG's Chrysler unit gained sales and market share.
Through May, GM's 2005 U.S. sales were down 5.4 percent to 1.9 million and Ford's were down 4 percent to 1.3 million. DaimlerChrysler sales rose 1 percent for the year to 927,000. Nissan's sales rose 16 percent, Toyota's rose 12 percent and Honda's rose 1 percent in the period.
Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @