Ford’s recent efforts to improve quality have certainly been paying off. Today the automaker announced that resale value for their vehicles jumped 23 percent since last year.
According to Ford, warranty repair rates have declined by more than 40 percent in the past three years. Additionally, third party initial quality surveys have consistently found that Ford, Lincoln, Mercury products have been steadily improving, with fewer defects being reported.
“Wholesale price performance was extremely strong throughout 2009, and during this period Ford, Lincoln and Mercury products matched or exceeded the performance of the overall market,” said Tom Webb, chief economist, Manheim Consulting, the world’s largest provider of automotive remarketing services. “And, in 2010, Ford products have outperformed the overall market, especially in the increasingly important segments of compact cars, midsize cars and crossover vehicles.”
At auctions, these stronger resale figures are especially apparent. In fact, on average, a 2010 Ford Taurus is selling 50 percent higher than a 2009 Taurus. Additionally, a 2010 Ford Fusion, on average, is fetching a 26 percent higher price tag than a 2009 model.
These improvements are good for customers that are new to the Blue Oval. Ultimately, this means more money in the customers’ pockets when it comes time to sell their vehicle or trade it in.
Aside from improved quality, Ford has also been aggressively revamping its entire lineup, which has also fueled improving resale values. This conveniently has also boosted more first-time Ford buyers and more repeat buyers at Burlington PA Ford and other retailers.
“The difference in Ford’s products today is significant,” says Jim Farley, Ford’s group vice president of Global Marketing. “We’re proud of the progress we’ve made. It feels good to be able to deliver great-looking vehicles and industry-leading quality at an affordable price in every sense of the word.”
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