Ford follows Hyundai with payment protection plan

Ford Motor Co., taking a cue from Asian rival Hyundai Motor, is offering to make car payments for buyers who lose their jobs.

The program, called the Ford Advantage Plan, will cover payments for up to 12 months.

The move is aimed at boosting sales, which have fallen 45.9 percent this year through February at Ford Motor and 39.4 percent industrywide as the U.S. recession extends into its 16th month. Analysts expect similar declines when March sales results are released on Wednesday.

Hyundai introduced its Hyundai Assurance plan in January. Hyundai-brand sales have increased 4.9 percent this year.

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