Chrysler Hikes Deals to Clear Out Rams
By Michelle Krebs July 10, 2008By Bill Visnic
DETROIT - Following the lead of rival General Motors Corp., Chrysler LLC weighs in with its own zero-percent/72-month financing incentive - but specifically to help clear the decks of '08-model Ram pickups prior to the pending launch of an all-new Ram for '09.
Chrysler announced Thursday the special financing deal on 2008 light-duty versions of the Ram Quad Cab and Mega Cab - for "fans of the current model." The company says the zero-percent incentive (plus a an extra $1,000 bounty for financing with Chrysler) will run only through the end of July, but as has been the case with recent incentives - not to mention the heavy stocks of unsold pickups - there's every reason to believe the deal may be extended past July 31.
The zero-financing deal is hardly the only come-on Chrysler's using to clear Ram stocks, however. There are two other alternatives: a total of $6,000 cash if financed through Chrysler Financial, and Chrysler's much-ballyhooed but lightly-effective $2.99 Let's Refuel America fuel-price guarantee, which for the Ram is sweetened with a total of $4,000 in cash if using Chrysler Financial.
One analyst recently told AutoObserver that incentives for fullsize pickups will have only limited effect on improving sales volumes, however. Because of high fuel prices, the analyst believes the "lifestyle" pickup customer now is all but nonexistent, and practically all pickup sales will be to those who need a pickup for work, commercial, or small-business duty.
GM's recent zero-percent, 72-month financing incentive may have helped the company sell some large pickups and SUVs, which in turn may have aided GM in avoiding the double-digit sales drops experienced by its major rivals last month. Data from Edmunds.com , parent of AutoObserver, said the industry sold 1,185, 128 units last month, the industry's worst June since 1991.
Photo by Chrysler
2008 Dodge Ram must be clared out to make way for the redesigned 2009 Ram.
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