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Chrysler Announces 2004 Incentives

September 3, 2003

DETROIT (AP) _ DaimlerChrysler AG’s Chrysler Group said Tuesday it will start offering incentives on most of its 2004 model-year vehicles as it attempts to boost U.S. sales.

Chrysler, whose domestic sales were down 4.7 percent through July, will offer financing deals and cash rebates from $500 to $3,000 on a variety of 2004 cars, trucks, minivans and sport utility vehicles.

The new sales program, which begins Wednesday and runs through Oct. 31, follows a successful summer sell down, spokesman David Elshoff said.

``Why lose the momentum,″ Elshoff said. ``Instead of playing follow the leader, we’re going to be in the driver’s seat.″

General Motors Corp., the world’s largest automaker, generally has been considered the kingpin in the fierce U.S. pricing war that began nearly two years ago.

But the battle has been hard on Chrysler’s financial performance. The automaker lost $1.1 billion in the second quarter largely because of the high cost of incentives as it competed with bigger rivals GM and Ford Motor Co.

Major automakers report August sales Wednesday.

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On the Net:

DaimlerChrysler AG, www.media.daimlerchrysler.com

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