Closing Mercury will cost Ford nearly $500 million
Ford Motor Co. could spend nearly $500 million to shutter its Mercury brand, CFO Lewis Booth said.
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Source: Closing Mercury will cost Ford nearly $500 million
Quote from the article:
| In an interview today with Automotive News, Booth said Ford took special charges of $247 million in the first half of 2010 to cover the cost of ongoing dealer reductions and shuttering the Mercury brand. He estimates the total cost to close the brand will be twice that amount. About 700 of the 1,700 franchised Mercury dealers in the United States have signed agreements to close their stores in return for cash compensation, Booth said. “The plan is in place and we're having very fruitful discussions with our dealers,” Booth said. No dealer lawsuits have been filed against Ford related to the shutdown of Mercury. |
Source: Closing Mercury will cost Ford nearly $500 million
