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Chrysler Extends Guaranteed Rebate

March 1, 1990

HIGHLAND PARK, Mich. (AP) _ Chrysler Corp. announced it will extend its guaranteed rebate program through March for most its cars and trucks, except its popular minivans and LeBaron convertibles.

The nation’s No. 3 automaker guarantees that if the rebate on a given vehicle is increased before Sept. 30, the buyer will get the difference. Current rebates range from $500 to $2,500.

In its announcement Wednesday, the company didn’t comment on how much the rebate extension will cost. In general automakers don’t report such costs.

Chrysler took a $664-million fourth-quarter loss in 1989 and is in the middle of a plan to cut $1.5 billion in annual costs by the end of this year.

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