Late December Auto Sales Rose Estimated 28.4% --- GM, Chrysler Post Increases; Computer Snag at Ford Delays Report of Results
DETROIT -- The U.S. auto industry ended 1985 with a strong surge in sales, reflecting a new round of incentives at General Motors Corp. and Ford Motor Co.</br></br>Late December sales for the major domestic auto companies rose an estimated 28.4% from a year earlier, following declines of 15.8% in mid-December and 12.6% in early December.</br></br>Industry sales are estimated because computer problems forced Ford to estimate its totals.</br></br>Analysts had predicted that the GM and Ford incentives -- financing rates as low as 7.9% on selected cars and trucks -- would lift sales from a slump that began in early October, just after the last round of programs ended. The earlier incentives covered more cars than current programs and also included rebates (at Ford) and slightly better interest rates -- as low as 7.7% -- causing record sales for the industry in August and September.</br></br>Analysts don't expect sales to boom as strongly this time, partly because many customers who planned to buy new cars likely did so during the earlier programs.