Ford Certified Pre-Owned Vehicle Program Achieves Record 39 Percent Growth; Improves Residuals, Dealer Profits
DEARBORN, Mich., Sept. 2, 2013 /PRNewswire/ --
- Through August, the company recorded 228,000 Ford, Lincoln, Mercury certified vehicle sales, representing 39 percent growth versus 2012
- A robust CPO program keeps more vehicles in the dealer network, improves residual values, enhances dealer profitability, brings more customers to Ford and Lincoln dealerships, and may ultimately result in lower vehicle costs
Ford Motor Company (NYSE: F) is on pace to set an all-time Certified Pre-Owned vehicle sales record this year. Through August, the company recorded 228,000 Ford, Lincoln, Mercury certified vehicle sales, representing 39 percent growth versus 2012.
"A robust CPO program keeps more vehicles in the dealer network," said John Felice, general manager, Ford and Lincoln sales. "It improves residual values, enhances dealer profitability, brings more customers to Ford and Lincoln dealerships, and may ultimately result in lower vehicle costs for our customers.
"As sales of our new products continue to grow, so will the demand for high-quality, low-mileage pre-owned Ford and Lincoln vehicles," Felice added.
Based on a new CPO warranty the company introduced in February 2012, customers who buy Ford CPO vehicles receive 12-month/12,000-mile comprehensive limited warranty coverage, with a seven-year/100,000-mile limited powertrain warranty. Customers also receive seven years of Roadside Assistance and free Sirius Radio for three months on vehicles equipped for the service. In 2013, the programs have been further enhanced to begin at the end of new Ford and Lincoln vehicle warranties.
Lincoln CPO customers receive six-year/100,000-mile comprehensive limited warranty coverage. They also receive six years of Roadside Assistance and free Sirius Radio for three months on equipped vehicles.
The multiple-point inspection process on both Ford and Lincoln Certified Pre-Owned vehicles covers new technology such as MyFord Touch® and MyLincoln Touch™, adaptive cruise control and Blind Spot Information System with cross-traffic alert.
Todd Fites, national CPO sales manager, says Ford and Lincoln CPO programs enable customers to get a like-new car with new-car peace of mind, and allow many to enter a vehicle segment – luxury, SUV, etc. – they couldn't otherwise afford.
"Fifty percent of these customers are new to the Ford and Lincoln brands, and research shows a new CPO customer is twice as likely to come back and buy a new Ford Motor Company product in the future," Fites says.
Top five Ford CPO volume vehicles – calendar year to date, August
Top five Lincoln CPO volume vehicles – calendar year to date, August
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 177,000 employees and 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit http://corporate.ford.com.
SOURCE Ford Motor Company
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