Automakers Rev Up Sales Incentives

Rebates and 0% financing are in the offing -- but they probably won’t last long.

Automakers are again digging into their bag of tricks and offering hefty cash rebates, 0% financing and other incentives to juice sales that turned soft after car production was beefed up in the spring.

The deals are coming in the wake of auto executives’ concerns about the growing volume of unsold vehicles, which began climbing midyear, following six months or so of steady declines. Automakers and dealers want to take steps now to minimize an inventory backlog of unsold 2010 models that could slam sales of 2011s. Next year’s models will start rolling out by the millions in late September.

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Associate Editor, The Kiplinger Letter