Canadian consumers could be paying anywhere from a few thousand to tens of thousands of dollars more for vehicles sold in their country versus the U.S., so Chrysler is jacking up incentives and cash rebates or slashing finance rates to make up for the difference. Beginning on November 1st, the automaker began increasing incentives by as much $5,250 or lowering finance rates so that consumers would save the same amount of money over the financing period. The linked article from The Toronto Star uses the 2007 Chrysler 300C as an example, which saw its cash rebate increase by $4,250 to a grand total of $9,250! Other models, like the new 2008 Grand Caravan, now carry a total rebate of $2,250.
Some automakers doing business in Canada like Honda and Toyota are expected to announce similar incentive increases this week. Others are sure to follow, especially considering a class-action lawsuit is in the works to address the price disparity from the legal end of things if automakers don't act quickly on their own.
[Source: The Toronto Star via The Truth About Cars, photo by KAREN BLEIER/AFP/Getty]