Ford Extends Mercury Dealer Cash Program
The program, which offers $1,500 for every new Mercury vehicle, was scheduled to come to an end on August 31.
A company spokesman told the aforementioned source that Ford is offering this help for dealers in order to allow them to remain competitive.
The Mercury brand shut down process debuted on June 2, with Ford announcing that it will be completed by December 31, with the selling of all the Mercury vehicles in stock by the end of the current year.
Dealers were happy with the financial aid coming from Ford, as this would make the inventory emptying process easier.
“It’s good news. It’s helped us,” Ed Witt, owner of Witt Lincoln Mercury in San Diego was quoted saying by the aforementioned source. “Business in general is still difficult,” Witt added. “But we have a big luxury market here and we feel confident with a lot of hard work and support from Ford we’ll do fine.”
Last month, we reported that Ford’s Chief Financial Officer, Lewis Booth, said that the Mercury shutting down process will take a toll of around half a billion dollars. A hefty amount of the money is being invested in buying out a part of Mercury’s dealer network. Ford included 700 of the 1,700 dealerships of the current network. The company will offer a financial compensation for the closing of their sites.