The discounts are designed to clear Ford's excess stock, with the approach of new models on the horizon. The offer will begin on Wednesday and discounts will be available until January 5th.
Earlier this year Ford was offering employee pricing on its F-series pickup trucks in an effort to move the gas-guzzler after sales plummeted due to the gas crisis. This time around, however, the 2009 F-series of pickups, 2008 and 2009 Escape and Mariner hybrids, and 2008 and 2009 Shelby GT500 muscle cars won't be a part of the year-end clearance sale, reports Automotive News.
There are some substantial savings on offer. For example, under the sale, a 2009 Focus that stickers at $16,505 would have a bottom-line price of $13,649 with the rebate. Or it would cost $14,649 with the 0 percent financing option.
Ford's sales for the year are roughly 30% down compared to the same period last year, but unlike Detroit-based rival General Motors, the Blue Oval is planning a new model onslaught to turn around its fortunes, with a desire to make small cars more profitable for the brand. This means that Ford must raise cash for development costs, and the company is planning to raise that cash by cutting almost $9 billion in expenses via restructuring, cutting the salaried payroll by 10%, and reducing executive bonuses.