Business Services Industry
Chrysler Cuts Prices in Hopes of Dropping Rebates.
Knight Ridder/Tribune Business News, September, 2001
By Rick Popely, Chicago Tribune Knight Ridder/Tribune Business News
Sep. 6--CHICAGO--The Chrysler Group is cutting prices on several 2002 models and gambling that it can kick a costly rebate habit on the Jeep Grand Cherokee.
Instead of continuing the $2,000 cash rebates offered on the 2001 Grand Cherokee, Jeep's most popular line, Chrysler cut the base price of the 2002 Laredo two-wheel-drive model by $1,875, to $26,025, and the Limited by $2,395, to $30,870, including the $600 destination charge.
George Murphy, senior vice president for marketing, said the previous Grand Cherokee prices were "out of whack" and required hefty rebates to compete with other midsize sport-utility vehicles. Grand Cherokee sales are off by 20 percent this...
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