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Ford announces $5-a-day lease; March sales for Ford, GM, Chrysler decline.(Knight Ridder Newspapers)

Knight Ridder/Tribune News Service

| April 01, 2003 | Butters, Jamie | COPYRIGHT 2003 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Jamie Butters

DETROIT _ Ford Motor Co. fired back at General Motors Corp.'s latest incentive offer Tuesday with a twist on history: the $5-a-day lease.

As a tribute to company founder Henry Ford in the Dearborn, Mich., automaker's centennial year, Ford is planning to offer leases on its Mustang coupe or Ranger Edge compact pickup for $5 a day.

Ford was credited with helping create the American consumer class in 1914, when he paid many of his autoworkers $5 a day _ enough to afford a new car.

On a day when automakers reported that March sales fell about half as much as expected, Ford and the Chrysler Group also countered GM's latest incentives, largely matching the giant automaker's offer of 5-year, no-interest loans.

Carmakers, not just the domestics, are scrambling to offer would-be customers prices they can't resist _ and to win over a bigger slice of the market.

GM announced its plan, which covers nearly every vehicle it makes, ...

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