Mercury dealerships have received offers from Ford Motor Co. to be assured that their cash settlement is paid out by the end of the year. But the dealers have to agree to report their Mercury vehicles as sold by Nov. 12.
The vehicles that are left would then be sold as used. Ford made the announcement last June that the Mercury brand will be discontinued by Dec. 31.
Ford spokesman Steve Kinkade said in an e-mail that 1,294 Mercury dealers who are still in business are given the option to report any new Mercury vehicles they own as sold using a “final pay” system.
Kinkade said that final pay is the amount that goes to dealers when they sell a vehicle, including dealer cash and other vehicle incentives. Kinkade said that if a dealer chooses to get the final pay, Ford must be informed by Friday to get paid by the end of the year.
Kinkade also said that Ford’s team would ensure that the deal would be completed by then. However, dealerships may opt to sell the vehicles as new until Dec. 31.
Kinkade said that Ford is offering final pay or retail incentives on all 2010 and 2011 model year vehicles that are left. [via autonews - sub. required]