Ford, GM to cover car payments if buyer loses job

General Motors Corp. and Ford Motor Company, seeking to ensure that consumers are worried about economic recession in the United States, to provide incentives, including payments related to purchase a new vehicle, who lose their jobs. GM will pay up to 9 months of unemployment for those who “economic reasons”, while Ford’s plan is, as long as 12 months, according to statements from the car today. At Detroit-based GM’s plans include 500 U.S. dollars per month, while Ford is the limit of 700 dollars.

2017 Ford Mustang.

2017 Ford Mustang.

Ford, GM to cover car payments if buyer loses job

Incentives as the United States sales of cars and light trucks continued to fall after 16 years, fell to its lowest level in 2008. The economic downturn also pushed up the unemployment rate, which could rise to 8.5 percent the highest since early 1983 years, according to Bloomberg survey of analysts value. “Consumers remain concerned about the prospects for the economy and their own” Ken Czubay, vice president of sales and marketing for the Dearborn, Mich., Ford Motor said today that the company’s statement.

GM also said it would provide up to 5000 U.S. dollars in damages for clients who can not trade in their vehicles in advance at the value of one when they want to buy new cars or trucks, LaNeve, director of marketing, said at a news conference. The United States The largest car manufacturer plans to begin tomorrow and run through the beginning of this month. Ford Motor’s second largest, also offers no interest financing through its credit unit. The company’s incentives to start from today, was extended to 6 months, and for the Ford, Lincoln and Mercury vehicles.

At GM and Ford offered a similar job of those who lost their incentive Hyundai Motor Company introduced on January 2. South Korean car manufacturers in the United States, sales increased by 4.9 percent in the first two months of this year, because of the industry total fell 39 percent. GM and Chrysler LLC, which is the survival of 17.4 billion U.S. dollars the federal loans for up to 21.6 billion U.S. dollars more. Ford, which lost one hundred Record 4.7 billion U.S. dollars last year, is the only American car manufacturers do not seek federal assistance.

Ford fell 6 cents, or 2.2 percentage points, to 2.70 U.S. dollars, at 11:17 at the New York Stock Exchange composite trading. GM fell 23 cents, or 8.5, 2.47 U.S. dollars.