Ford initiates rebates to boost lagging sales

In an effort to boost slumping car sales, Ford Motor Company today (May 9) begins an aggressive summer marketing program providing consumer rebates of $100 to $500 across its model lineup. Ford lost $41 million in the fourth quarter of 1979; $164 million in the first quarter of 1980. It expects even greater losses in the current three-month period. The rebate program will last through July 12 , making it one of the longest in the industry's history.