The second largest US automaker, which has just posted record results for its third quarter, will increase the discounts offered on most of its models in a final, year-end push designed to lift the company’s market share and deliveries.
The intensive incentive program, called the Friend & Neighbors promotion will bring as much as $2,000 above the level of incentives already offered by the company and is scheduled to last between November 3 and January 4, Bloomberg found out from a dealer planning guide. The subsidies will be offered to all new 2014, 2015 and 2016 Fords, save for some top of the line Mustangs, the F-150 Raptor and some commercial-grade models such as the F-550 truck and E-450 van, read the guide. The company looks set to recapture the lost market share during the lengthy plant recalibration needed to manufacture the all-new aluminum intensive F-150 pickup truck, the brand’s bestselling vehicle. After the first nine months of the year, Ford controlled 15.1 percent of the second largest global auto market, in line with the level seen last year and lower than a 16 percent threshold from 2013. “After the share loss from the transition of the F-150, they appear to be trying to shore up their position for the full year,” comments an analyst at consultant LMC Automotive.
And laden with money, the company can afford a profit decline during the final months of the year as it spends more on advertising and promotions – such as the revealed plan. Ford this week announced its third quarter net income more than doubled to $1.9 billion from $835 million during the same period last year. Ford’s year end drive includes hefty discounts on November 27, the post-Thanksgiving shopping day known as Black Friday and also during the last days of the year.