Kirk Bouley: Luxury Goods
It is no secret that the economy as of late is in the tubes. The interest rates are very low and the value of the dollar on a worldwide scale is very low. As a result of this downturn, many people have put off spending money on luxury good. Most of all people have been putting off buying new homes and cars. In an attempt to boost the market, the homebuilders are offering many incentives like low to zero interest on new homes. The major auto industries have been feeling a similar pinch in the market. They have also been offering zero interest to certain qualified buyers. Even this has not stimulated the market as much as the auto manufactures would like so even more incentives have been issued. From complementary options and upgrades to extended warrantees car companies are doing everything they can to convince people that they need to spend the money on a new car despite the poor economy. One of the best incentive plans I have seen is being offered by Jeep, Dodge, and Chrysler. To compete with many of the import products, they are offering a lifetime powertrain warrantee. If was considering buying a new car in the next year of so, I would seriously consider biting the bullet and buying one now to take advantage of these incentives. Maybe this outrageous offer will be enough to get buyers out.
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