Offering incentives on an all-new model is just about as rare as getting struck by lightning, but it looks as though lightening will be striking twice this month. According to a new report, both Ford and Dodge will be offering incentives from the get go on their new full-size trucks – a strong indication of how bad the auto market really is.
The Ford F-150 has been the best-selling vehicle in the U.S. for the last 31-years, but the sharp economic downturn and higher fuel prices have taken a toll on the popular truck. The F-150’s September sales were down 39 percent compared to a year earlier, but Ford is banking that an all-new truck plus some extra cash will stop the truck’s downward slide. According to the Financial Times, Ford will be offering up as much as $2,500 to get shoppers behind the wheel of a 2009 F-150.
Dodge ’s Ram didn’t escape the recent downturn either, with Ram sales sliding 28 percent last month. But Dodge also has a new truck for 2009, complete with up to $2,000 in cash incentives.
While it’s never a good thing to see incentives on new models – especially ones as popular as the F-150 – incentives have helped bolster truck sales over the last few months. While overall truck sales are down, large trucks have actually increased their market share over the last few months – thanks mostly to sinking sales in almost all segments. According to the Financial Times, large trucks now account for 16 percent of the U.S. light-vehicle market, up from just 8.6 percent in May.
