Mercury wind-down is on track, says Ford
By Steph, 21 Dec, 2010. 0 Comments
010 Mercury Mountaineer
Ford Motor Co. expects that all remaining Mercury vehicles in its inventory will be sold off by its dealers within about a month. In June 2010, the company said that it would discontinue the brand by Dec. 31. Through November 2010, U.S. Mercury sales were up 2 percent to 84,802 vehicles sold. Jim Farley, Ford's group vice president of global marketing, sales and service said that about three-quarters of U.S. Mercury dealers have signed cash-settlement documents and agreed to close.
Farley said that about half of the 1,700 Mercury dealers have removed signs and sold all their Mercurys. A large number of Mercury dealers said they were hesitant to sign a settlement with Ford because they sought larger payments.
Dealer lawyers said they have seen settlement offers ranging from $100,000 to almost $800,000. Ford said it will pay 100 percent of what dealers paid for parts. Ford added that dealers also may keep the parts and sell them. [via autonews - sub. required]
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