Ford Launches Expansive Package of Incentives With a Charitable Twist
March 31, 2009
By Michelle Krebs
DEARBORN, Mich. -- Ford Motor announced Tuesday a comprehensive package of
incentives it is calling the Ford Advantage Plan that includes a payment protection plan like Hyundai's as well as zero-percent financing and a charitable donation element.
"Consumers remain anxious about the economy and their own outlook for the future," said Ken Czubay, Ford's vice president of sales and marketing in a statement Tuesday morning. "We at Ford want to do our part to rebuild faith in the marketplace by offering payment protection on every new Ford, Lincoln or Mercury vehicle for up to a year if our customers lose their jobs."
Ford is offering payment protection of up to 12 months on all new Ford, Lincoln and Mercury vehicles sold between March 31 through June 1. The plan provides 12 months of payment protection of up to $700 per month.
Ford's payment protection plan is patterned after a highly successful launch by Hyundai in January called Hyundai Assurance. Hyundai has seen large spikes in shopping consideration and has performed better than the rest of the industry in terms of sales during the first quarter. For spring, Hyundai added another element to the plan -- three months of car payments if the buyers loses income -- called Hyundai Assurance Plus.
With Hyundai's success, it was only a matter of time before others copied the program. Last week, AutoNation, the largest dealership chain in the U.S., began offering a similar plan. Bloomberg News reports General Motors plans to launch something similar.
Zero-Percent to Boot
In addition to payment protection, Buyers also get zero-percent financing on select Ford, Lincoln and Mercury vehicles through Ford Motor Credit.
The Charitable Twist
In April, Ford will introduce the details of a new program it is launching in partnership with its dealers nationwide to assist local charities hit by the economic downturn.
"Just as important is additional charity support we will provide in conjunction with our local dealers, who are mindful of how non-profit organizations are struggling during this economic downturn," Czubay said. "Ford and our dealers have always stepped up to take an active lead role in the community, and that's why we are also including a charity element as part of the Ford Advantage Plan."
Ford noted that in 2008, more than 18,000 Ford U.S. employees volunteered 100,000 hours to help people in their local communities -- that's the equivalent of nearly $2 million dollars of in-kind corporate contributions.
Posted by Michelle Krebs at 5:19 AM under Ford , News | Comments (1) | digg this | Seed Newsvine
Good idea, but why in the world did Ford choose a name that Hyundai formerly used for their warranty program that is longer than Ford's?
Posted by: dg0472 | March 31, 2009 at 6:50 AM