Word: fording
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Dates: during 2000-2009
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...first and most powerful argument against a major car company refurbishing its own used products is that it will keep people from buying new cars. In some cases that is true. But, the fact that Ford's sales monthly are down as much as 40% undercuts the logic. As people keep cars longer, the argument will be less compelling. Most new vehicle buyers now probably fall into two groups. The first are people whose vehicles are so old or badly damaged that they need a new car. The other group is people who want a new car, can afford...
...Ford does go into the business of rebuilding millions of its own cars for customers, the group that will suffer is independent mechanics...
...Ford and its peers have a chance to revitalize most of the dealerships, their suppliers and their own companies while making a lot of money in the process. The cost of refurbishing a car can be financed, just like a used car can be. A person who pays $4,000 to upgrade a car he already owns is probably a better risk than someone who buys a used car with 20,000 miles on it for $20,000. The car company has a chance to make money on each and every customer who comes in to have his car improved...
...Ford could also wait and hope that it will have 15% of a U.S. car market that produces 16 million vehicle sales. It will be waiting for a day that will never come...
...with the union sets the pattern for the others. Earlier this week the CAW gave up a special annual bonus and agreed to a reduction in paid time off in reaching a deal with General Motors. But that deal was criticized by some in the industry as insufficient. Indeed, Ford Motor Co. said Friday it will also reject the GM-CAW deal for not cutting costs enough. (See portraits of GM autoworkers...