One of Ford Motor Co.’s (NYSE: F) most popular pricing programs was launched earlier this month and runs through the end of February. The “Friends & Family” promotion has been extended beyond just family members and friends to include anyone who has a competitive product and knows a Ford employee or retiree.
In early November Ford tried a “Friends & Neighbors” promotion that flopped. The deal essentially included a no-haggle sales price of around $200 above dealer invoice on most models. The promotion was supposed to run through early January but was cancelled in late November. The problem appeared to be that the offer was confusing because it did not compare well with buyers’ expectations of cash back and all the other price and financing offers consumers are used to.
Under the new offer, buyers need to get a special code from Ford employees or retirees in order to take advantage of the special pricing. According to Automotive News, buyers could save “several thousand dollars” under the new deal.
Buyers must also show that they own or lease a model year 1995 or newer vehicle from another carmaker. They do not need to cancel the lease or trade in the car, however, and the deal is good for either a Ford or Lincoln vehicle.
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Automotive News cited a memo from Ford to its dealers:
Employees are encouraged to seek new customers to bring to the Ford and Lincoln brands with this opportunity. The existing … program provides employees the ability to reward great savings to immediate family members, and now that can be extended to a friend or neighbor that drives a competitive vehicle. This opportunity represents growth and continued strength for both Ford and Lincoln!
This is believed to be the first time since 2008 that Ford has made such an offer.
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