egmCarTech

So you know how analysts keep saying that people are beginning to buy larger vehicles again since gas prices are low? Here is a perfect example of that. Due to a sharp sales decline, Smart USA is offering financing incentives for the first time ever.

According to Smart USA President David Schembri, Smart was avoiding offering incentives since it had high order backlogs for the ForTwo. The company had more than 20,000 orders as of Jan. 1. But now with gasoline prices declining, many customers have canceled their orders, reports Automotive News. Schembri would not give out the exact number of cancelations.

Smart is now offering 4.2 percent financing for loans of up to 60 months. The program is currently underway and will continue through July.

Smart sales totaled 24,622 last year – it’s first year in the United States. Schembri said he would not rule out hitting the brand’s 25,000 goal.

- By: Omar Rana

Related Posts:

1. GM offering big incentives to clear Saturn inventory, get $4,000 off 2008, 2009 models
2. Smart USA offering payments as low as $99 for qualified ‘Cash for Clunkers’ buyers
3. Chrysler launches new round of incentives, offering up to $6,000
4. Honda offering new incentives on 2009 Civics
5. GM offering huge incentives on many Pontiac, GMC, Buick models