Automotive News - March 9, 2009 - (Page 28) 28 • FEBRUARY 9, 2009 Lampert buys more AutoNation shares FORT LAUDERDALE, Fla. — Ed Lampert, the billionaire investor credited with reviving Kmart’s stock, has purchased more shares of AutoNation Inc., taking another step toward becoming majority shareholder of the largest U.S. dealership group. Last week Lampert and his hedge fund in Greenwich, Conn., ESL Investments Inc., reported raising his 45 percent stake in AutoNation by a fifth of a percentage point. AutoNation has cleared the way for Lampert to acquire more than half of its common stock, the retailer said last week. But if that happens, agreements with carmakers will cap Lampert’s voting interest at 50 percent. AutoNation stock has been trading at its lowest levels since 2001. Last month, five of AutoNation’s eightmember board of directors increased their stakes, federal records show. , Incentives in this table are a summary of retail programs offered. Programs may vary by region and model. Cash rebate Finance rate Cash rebate Finance rate Cash rebate Finance rate SUBARU Customer Incentives Dealer Incentives Incentives in this table are a summary of dealer programs offered. Programs may vary by region and model. BMW Expires March 2. 2009 models 3 series, 5 series, 6 series, M3, M5, M6, X5 1 series, X3 2008 models 1 series, 3 series, 5 series, 6 series, 7 series, M3, M5, M6, X3, X5, Z4, Z4 M – – 2.9% 3.9% – 2.9% CHRYSLER LLC Expires March 2. In lieu of rebates, cut-rate financing is available. 2009 models Chrysler 300 $1,000-$2,500 0-5.9% PT Cruiser $500-$1,750 0-7.9% Aspen $1,500 0-7.9% Sebring, Town & Country $500-$1,500 0-7.9% Dodge Ram 2500/3500 $1,500-$3,000 0-5.9% Charger, Journey $1,000-$2,000 0-7.9% Ram 1500 $0-$2,000 0-5.9% Durango $1,500 0-7.9% Avenger, Grand Caravan $250-$1,500 0-7.9% Nitro $1,250 0-7.9% Caliber $500-$1,000 0-7.9% Challenger, Dakota – 0-7.9% Jeep Commander Grand Cherokee $1,500-$2,000 0-5.9% Liberty $750-$1,250 0-7.9% Wrangler $500-$1,000 0-5.9% Compass, Patriot – 0-7.9% 2008 models Chrysler 300C, 300 SRT8 $4,500 0-5.9% Sebring $1,000-$4,000 0-7.9% 300 (excl. SRT8 and C) $1,500-$3,500 0-5.9% Aspen $3,500 0-7.9% PT Cruiser (excl. convertible) $750-$2,500 0-7.9% Pacifica $1,250-$2,250 0-7.9% Town & Country $1,500-$2,000 0-5.9% PT Cruiser convertible – 0-7.9% Dodge Ram 1500 $3,500-$4,500 0-5.9% Ram 2500/3500 $4,000 0-5.9% Dakota $2,250-$4,250 0-7.9% Magnum $3,000-$3,500 0-5.9% Charger, Durango $1,250-$3,500 0-7.9% Avenger $1,000-$2,250 0-7.9% Nitro $1,500-$2,200 0-7.9% Grand Caravan $1,000-$2,000 0-5.9% Caliber $0-$1,250 0-7.9% Challenger, Viper – 0% Jeep Grand Cherokee $500-$4,500 0-5.9% Commander $3,500 0-5.9% Liberty $1,500-$2,500 0-7.9% Compass, Patriot $500-$1,250 0-7.9% Wrangler $1,250 0-5.9% Supplier Contech files Ch. 11 DETROIT — Contech LLC filed for Chapter 11 reorganization Jan. 30, after 2008 sales fell nearly 30 percent. The Portage, Mich., company, which makes lightweight cast components, said it plans to cut costs, sell noncore operations and reduce debt. Edscha is insolvent MUNICH, Germany — The German engineering firm Edscha has filed for insolvency. Edscha, which makes convertible roofs, hinge systems and driver controls for most major carmakers, is owned by Carlyle Group, a U.S. private equity firm. Edscha blamed a slump in sales. A spokeswoman said only European operations are affected. Penske Automotive halts dividend DETROIT — To conserve cash, Penske Automotive Group Inc. has suspended its 9 cent quarterly dividend. The move “is consistent with our ongoing cost curtailment and cash management initiatives, which includes reduction in our worldwide work force, reductions in executive and director pay and suspension of the company’s 401(k) match,” CEO Roger Penske said in a statement. Penske Automotive is the second-largest U.S. dealership group. FORD MOTOR CO. Expires March 31. In lieu of rebates, cut-rate financing is available. 2009 models Ford Flex $1,500-$4,000 0-6.9% F-250 Super Duty, F-350 Super Duty $2,500-$3,500 1.9-6.9% Fusion $2,000-$3,500 0-4.9% Explorer $1,750-$3,000 1.9-6.9% F-150 $1,500-$3,000 2.9-8.9% Ranger $1,000-$3,000 0.9-6.9% Taurus, Taurus X $2,000-$2,500 0.9-5.9% Expedition, Expedition EL, Explorer Sport Trac $1,500-$2,500 1.9-6.9% Edge, Escape, Mustang $500-$2,000 0-7.9% Focus $500-$2,000 0-10.9% Econoline $500-$1,000 1.9-6.9% Lincoln Navigator $3,500-$4,000 2.9-7.9% Town Car $3,500-$4,000 4.9-9.9% MKZ $3,000-$3,500 0-4.9% MKX $2,500-$3,500 0.9-5.9% MKS $0-$1,000 1.9-6.9% Mercury Grand Marquis $4,500-$5,000 0.9-5.9% Milan $2,000-$3,500 0-4.9% Mountaineer $1,750-$3,000 1.9-6.9% Sable $2,000-$2,500 0.9-5.9% Mariner $500-$1,000 0-7.9% 2008 models Lincoln Mark LT $8,000-$8,500 0-2.9% Navigator, Town Car $5,500-$7,000 0-2.9% MKX $4,500-$6,000 0-2.9% MKZ $4,000-$5,500 0-2.9% Mercury Grand Marquis $5,500-$6,000 0-2.9% Mountaineer $4,500-$6,000 0-2.9% Sable $3,000-$4,500 0-2.9% Milan $2,500-$4,500 0-4.9% Mariner $1,500-$4,000 0-4.9% GM, lawmakers fixing tax glitch DETROIT — U.S. Sens. Debbie Stabenow and Carl Levin, both DMich., are working to correct an inadvertent tax liability created for General Motors by its receipt of federal loans. If they don’t correct it soon, GM could owe $7 billion in taxes, a source confirms. When the Bush administration pledged GM a $13.4 billion federal loan, GM was required to issue nonvoting stock warrants to the government, make one-half of its voluntary employee beneficiary association payments in the form of stock, and reduce debt by two-thirds through a debt-for-equity swap. Those things trigger ownership changes within an obscure part of the tax code, the source says. And the result could be a $7 billion tax bill. GM declined to comment. Chrysler LLC also received bailout funds but does not face a similar tax liability. GENERAL MOTORS Expires March 3. In lieu of rebates, cut-rate financing is available. 2009 models Buick Lucerne $1,000 5.9% LaCrosse $1,000 Enclave $750 Cadillac XLR, XLR-V $4,500 DTS $2,000 CTS $1,500 Escalade, SRX, STS, STS-V $1,000 Chevrolet TrailBlazer $3,000 Silverado 1500 $1,500-$2,500 Impala $1,750 Cobalt $1,500 Avalanche, Silverado 2500HD, Silverado 3500HD $1,500 Malibu $1,250 Colorado, Equinox, HHR $1,000 Suburban, Tahoe, Tahoe Hybrid $1,000 Express, Express cargo $1,000 Traverse $750 Aveo – GMC Envoy $3,000 Sierra 1500 $1,500-$2,500 Sierra 2500HD, Sierra 3500HD $1,500 Canyon $1,000 Yukon, Yukon XL $1,000 Savana, Savana cargo $1,000 Acadia $750 Hummer H3 $5,000 H2, H2 SUT, H3T $2,000 Pontiac G5 $1,500 G8 $1,500 G6 $750-$1,250 Torrent $1,000 Vibe $500 Solstice $500 G3 – Saab 9-3, 9-5, 9-7X $1,500 Saturn Aura, Vue $1,250 Outlook $750 Sky $500 2008 models Buick Lucerne $3,500 Enclave $2,500 LaCrosse $2,000 Cadillac XLR, XLR-V $8,500 Escalade $8,000 DTS $5,500 SRX $4,500 STS, STS-V $4,000 CTS $3,500 Chevrolet TrailBlazer $7,250 Silverado 2500HD/3500HD, Suburban $6,000-$7,000 Tahoe $6,000 Silverado 1500 $3,000-$5,000 Avalanche $5,000 Equinox $4,250 Colorado $2,750-$4,250 Impala $3,250 Malibu $2,750 HHR $2,500 Cobalt $2,500 Corvette $2,000 Express cargo $1,000-$2,000 Express, Malibu Hybrid $1,500 Aveo $1,000 Uplander $1,000 GMC Envoy $7,250 Yukon XL $7,000 Sierra 2500HD/3500HD $6,000-$7,000 Yukon $6,000 Sierra 1500 $3,000-$5,000 Canyon $2,750-$4,250 Acadia $2,500 Savana cargo $1,000-$2,000 Savana $1,500 Hummer H2, H2 SUT $8,000 H3 $6,500 Pontiac Torrent $4,250 G8 $3,000 G6 $2,750 G5 $2,500 Grand Prix $2,250 Solstice $1,250 Vibe $750 Saab 9-7X $8,500 9-5 $4,500 9-3 $4,000 Saturn Aura, Vue $2,750 Outlook $2,500 Vue Hybrid $1,750 Aura Hybrid $1,500 Astra, Sky $1,250 6.9% 6.9% 6.9% 5.9% 6.9% 6.9% 3.9-4.9% 3.9-4.9% 5.9% 2.9-4.9% 5.9% 4.9% 4.9-5.9% 6.9% – 6.9% 5.9% 3.9-4.9% 3.9-4.9% 5.9% 5.9% 6.9% – 6.9% 6.9% 6.9% 2.9-4.9% 4.9-5.9% 4.9-6.9% 5.9% 6.9% – 5.9% 6.9% 4.9-5.9% 6.9% – 0.9% 4.9% 2.9% 0.9-1.9% 0.9-1.9% 0.9-1.9% 0.9-1.9% 0.9-1.9% 0.9-1.9% 0-1.9% 1.9-4.9% 1.9-3.9% 2.9-4.9% 1.9-3.9% 2.9-3.9% 2.9-3.9% 1.9-2.9% 3.9-4.9% 3.9-4.9% 6.9% 5.9% – – 6.9% – 0-1.9% 1.9-3.9% 4.9% 1.9-3.9% 2.9-4.9% 2.9-3.9% 4.9% – – 0.9-1.9% 0.9-1.9% 2.9-3.9% 3.9-4.9% 3.9-4.9% 6.9% 3.9-4.9% 4.9% – 0-1.9% 0-1.9% 0-1.9% 3.9-4.9% 4.9% – – 4.9-5.9% Honda Civic 2008 models Acura TL Honda Civic – 2.9-4.9% – 2.9-3.9% – 2.9-4.9% CHRYSLER LLC Expires March 2. 2009 models JAGUAR Expires March 31. 2009 models XF XJ – – 0-4.9% 2.9% Chrysler Aspen Dodge Ram 1500 2008 models Dodge Ram 2500/3500 Ram 1500 Sprinter $1,000 $0-$1,500 $0-$3,000 $0-$2,000 $0-$2,000 LAND ROVER Expires March 31. 2009 models LR2, Range Rover Sport, LR3 2008 models LR2, LR3, Range Rover, Range Rover Sport – 1.9-3.9% AMERICAN HONDA MOTORS CO. Expires March 2. 2009 models Acura RL RDX MDX TL TSX Honda Ridgeline Odyssey Civic Hybrid, Pilot Element Accord Civic (excl. Hybrid), CR-V 2008 models Honda Odyssey Accord CR-V Civic – 0% MAZDA Expires March 2. In lieu of rebates, cut-rate financing is available. 2009 models B series $2,500 – Tribute $1,000-$2,000 3.9-4.9% CX-7, CX-9, Mazda3, Mazda5, Mazda6 – 0-4.9% RX-8 – 3.9-4.9% 2008 models RX-8 $4,000 1.9-2.9% B series $3,000 – Tribute $2,000-$3,000 0-1.9% Mazda6 $2,750 0-1.9% MX-5 Miata $2,000 0-3.9% Mazda3, Mazda5 $2,000 0.9-2.9% CX-7, CX-9 – 0-1.9% $3,000 $2,500 $2,000 $500-$1,000 $750 $2,500 $2,250 $1,500 $1,000 $750-$1,000 $500 $3,500 $750-$1,500 $1,000 $500 JAGUAR Expires March 31. XJ series XK series $13,000-$15,000 $11,000-$13,000 NISSAN NORTH AMERICA Expires March 2. In lieu of rebates, cut-rate financing is available. 2009 models Infiniti FX35, FX50, QX56, G37 – 1.9-3.9% M35, M45 – 3.9-4.9% Nissan Titan $5,000 0.9-1.9% Quest $2,500 2.9-3.9% Frontier $2,000-$2,500 1.9% Sentra $2,250 0.9% Xterra $2,000 2.9-3.9% Pathfinder $1,500 3.9-4.9% Altima Hybrid $1,500 3.9% Altima (excl. Hybrid) $1,000-$1,500 2.9-3.9% Versa $750-$1,000 3.9% Murano $500 2.9-4.9% Rogue – 2.9% 2008 models Infiniti EX35, G35, G37, M35, M45 – 0-0.9% Nissan Titan $5,500 0-1.9% Quest $4,000 1.9% Pathfinder $3,500 1.9-2.9% 350Z $2,500 1.9% Frontier $1,750-$2,500 1.9-2.9% Sentra $2,500 0% LAND http://www.Edmunds.com
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