GM Pledges Refunds If Prices Fall For 1975 Models
GM vowed refunds to any customer who buys a 1975 GM car between January 13 and March if a price cut or rebate is announced during that period. Dealers are protected against price increases on orders accepted then, even if delivery is later. The move follows Chrysler’s five week rebate campaign and comes as GM reported a 27 percent drop in first ten days of 1975 sales, the worst January start since 1953.
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Ford rebate plan mirrors McGovern cash idea from 1972
Washington President Ford proposes rebates and up to 1000 cash payments to Americans to offset recession and high energy costs. McGovern notes similarities to his 1972 proposal, but Ford’s plan is far less costly, with rebates estimated around 16.5 billion dollars in 1975 and 2 billion for non taxpayers. The initiative advances direct cash aid as a broad purchasing power safeguard.
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