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Southern Illinoisan in Carbondale, Illinois

05 Dec 1980

Page 8

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Southern Illinoisan December 5, 1980 Page 8 old newspaper archives

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Newspaper

Southern Illinoisan

Location

Carbondale, Illinois, United States of America

Date

Dec 05, 1980

Page

8

Chrysler revamps plan as rates scuttle profits

Chrysler chief Iacocca warned that soaring rates have crushed Q4 profits and forced a scaled back recovery plan for 1981 85. He announced a $500 million cut in capital spending and a broad rebate on most American built cars while preparing a third loan guarantee request and a new plan for the United States Loan Guarantee Board.

MENTIONED IN THIS ARTICLE

New York Times Detroit Lee A. Iacocca Chrysler Corp Chrysler United States Chrysler Loan Guarantee Board Federal Reserve Board Federal Loan Board Jaceeca Iacocca Loan Board Congress
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Auto makers offer rebates amid rising loan rates

Ford and Chrysler roll new financing and rebate incentives to counter higher rates. Chrysler ties rebates to the prime rate and offers 6 percentage points off a $6,500 car, while Ford promotes 12 percent financing on six models through Feb 7. GM cautions against rebates though stays competitive. News notes Chrysler posts October profit and November sales rise, while Ford shows declines in the month.

MENTIONED IN THIS ARTICLE

Highland Park Mich Ford Motor Co Chrysler Corp Chrysler Ford Ford Motor Credit Corp Thomas A. Murphy General Motors Corp Iacocca
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Also Mentioned on This Page

Chrysler Loan Board Reagan Treasury Citibank Walter B. Winston Senate Banking Committee Prince Gardner Levi Dacron Meis University Carbondale York S.M.L
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