Ford Exec: Auction Prices On Used Ford Cars, Trucks Up $3,000

[Omaha Steve]

Source: Workers Independent News

By Jeff Bennett

DETROIT--The average auction price on used Ford Motor Co. (F) cars and pickup trucks increased by about $3,000 over the prior year, a fact the auto maker will use in its future marketing efforts.

The better auction price--on cars and pickups less than five years old--means Ford vehicles carry a higher residual value which consumers are noticing, said Jim Farley, Ford's group vice president of global marketing.

"Perceived quality is becoming a wallet issue," said Farley, who plans to weave the improving residual value message into future marketing efforts.

Farley's pricing comments came as auto maker hosted Automotive Lease Guide on a conference call to tout its recent score improvement in the research firm's annual Perceived Quality Score.

Read more: http://online.wsj.com/article/BT-CO-20100514-710865.html?mod=WSJ_latestheadlines

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1. Ford used car prices

Nice to see Ford misleading the public with a half truth: yes, it's true Ford used products have been bringing premium prices at the used car auctions. However, what Ford fails to tell you is ALL cars and trucks have been bringing premium prices at the auctions. There has been a used car shortage now for the last year. Specifically, any used Truck is bringing unheard of prices at the auctions, not just Fords. I operate the the Arizona offices of a sub prime indirect (we buy paper directly from the auto dealers) auto lender and the biggest obstacle to business is our client car dealers finding used cars at the auction for a reasonable price. If anyone does not believe me, call any used car dealer in your area and ask how auction prices are.......

[Kolesar]

2. What about Toyota prices?

Frank Benton wrote:
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Mr. Farley has to know that auction prices on ALL used cars and trucks increased by about the same this past year, including auction prices for cars such as Hyundai and KIA. Even the lowly Chevrolet Cavaliers were bringing over "book" at the auctions. I operate the offices of a subprime auto loan company in Arizona and the biggest brake on business is our dealers finding used cars and trucks at the auctions.

[Omaha Steve]

5. Welcome to the DU, but Toyota used prices are down

A class action suit against Toyota over the devaluation of it's used cars and trucks just got it's first hearing this past Thursday the 13th.

[Delphinus]

7. Welcome to DU!

I look forward to more of what you share. :hi:

[tinrobot]

8. Perhaps the higher prices are because of cash for clunkers?

I'd think a lot of trucks were taken off the road last year.

[jpak]

3. I see new Ford Focuses (Foci ?) everywhere these days

and Priuses too.

I think we're done with gas guzzlers in this country.

$4 a gallon gave folks religion

yup!

[pattmarty]

4. At the end of this year Ford ought to send bonus to all the Toyota.............

.............managers involved in the "throttle fiasco" for their help in Ford's sales.

[ConcernedCanuk]

6. That would make my 1979 F150 worth

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$3,500.00 ?

:silly: