Dearborn, Mich., April 25, 2008 – Ford Motor Company's (NYSE: F) Ford and Lincoln Mercury divisions are launching improved and expanded Certified Pre-Owned Vehicle programs designed to enhance the appeal of the company's newest products like the Ford Fusion, Lincoln MKX and Mercury Mariner in the used vehicle market.
Last year, certified pre-owned vehicle sales reached nearly 1.7 million units, or more than 10 percent of the new vehicle market. The new Ford and Lincoln Mercury programs now include the industry's most rigorous inspection program covering 169 individual check points as well as an extensive package of warranty coverage and roadside assistance. The goal is to deliver as close to a new car purchase experience as possible with even stronger assurance that Ford Motor Company backs each vehicle's quality.
Specific CPO enhancements include:
- Ford, Lincoln and Mercury eligible vehicles have been expanded to include those up to six years old or with up to 80,000 miles.
- Each Ford and Mercury vehicle is backed by a 6-year / 100,000-mile powertrain Limited Warranty and a 3-month / 3,000-mile Comprehensive Limited Warranty. Lincoln pre-owned customers receive a 6-year / 100,000-mile Comprehensive Limited Warranty.
- Ford offers 169 different points of inspection – the most comprehensive inspection process of any other volume manufacturer.
- 24-hour roadside assistance is included for the full duration of the Limited Warranty coverage.
“Ford’s certified pre-owned program is designed to give customers peace of mind that they’re buying the highest quality used vehicle available,” said Glenn Burke, Ford Certified Pre-owned program manager. “It’s also an opportunity for our dealers to grow their business by attracting new customers to the Ford and Lincoln Mercury brands – many of whom will become new Ford vehicle owners down the road.”
According to Burke, more than50 percent of CPO customers are new to Ford or Lincoln Mercury and on average, 15 percent will trade their vehicles for a new Ford or Lincoln Mercury product on their subsequent purchase. Through the first quarter, Ford and Lincoln Mercury CPO sales are up 7.7 percent year-over-year.
Also bolstering the program are major gains in quality. In 2007, J.D. Power and Associates Initial Quality Study reported that Ford Motor Company had 14 total vehicles ranked in the top three in their respective segments, more than any other automaker and in April of this year in a separate study, the Global Quality Research System survey conducted by the RDA group found Ford and Lincoln Mercury initial vehicle quality equal to that of Toyota and Honda.
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With about 245,000 employees and about 100 plants worldwide, the company’s core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit www.ford.com.
