Ford offers payouts to Mercury dealers based on percentage of business
Ford Motor Co. is offering the 1,700 dealerships with a Mercury franchise a cash compensation for the loss of the brand.
The compensation figures, delivered to dealers in packets this morning, range from the very low thousands up to about $200,000, sources said.
Quote from the article:
Source: Ford offers payouts to Mercury dealers based on percentage of business
The compensation figures, delivered to dealers in packets this morning, range from the very low thousands up to about $200,000, sources said.
Quote from the article:
Ford announced on Wednesday it would discontinue the Mercury brand. It will cease production on all Mercury vehicles in the fourth quarter. There will be no 2011 model year Mercury products. The dealer compensation is based on a three-year sales average of Mercury as a percentage of a dealership's total sales. It also factors in repayment for signage and parts and a blue-sky value, Ken Czubay, Ford's U.S. sales chief, told Automotive News. “We feel that the compensation we're offering them is reasonable and fair,” said Mark Fields, Ford's president of the Americas in an interview with Automotive News. “It is beyond what the franchise agreement states. It is beyond what state law states. It's well beyond what other competitors have done in the marketplace.” |
Source: Ford offers payouts to Mercury dealers based on percentage of business
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