Ford initiates rebates to boost lagging sales
Detroit — In an effort to boost slumping car sales, Ford Motor Company today (May 9) begins an aggressive summer marketing program providing consumer rebates of $100 to $500 across its model lineup. Ford lost $41 million in the fourth quarter of 1979; $164 million in the first quarter of 1980. It expects even greater losses in the current three-month period. The rebate program will last through July 12 , making it one of the longest in the industry's history.