DEARBORN, Mich. — Ford Motor Co. is on track to realize a 29 percent growth in certified pre-owned (CPO) vehicle sales this year vs. 2011, the company reported yesterday. The rise in sales comes on the heels of a major revamp of the CPO program.
Customers who buy CPO Ford Motor Company vehicles now receive a 12-month/12,000-mile comprehensive limited warranty coverage, compared to the three-month/3,000-mile warranty coverage previously offered. And the powertrain warranty has been improved from a six-year/100,000-mile to a seven-year/100,000-mile limited warranty coverage. Customers also receive seven years of roadside assistance and free Sirius Radio for three months on equipped vehicles.
Lincoln CPO customers now receive a six-year/100,000-mile comprehensive limited warranty coverage. They also receive six years of roadside assistance and free Sirius Radio for three months on equipped vehicles.
And the multiple-point inspection process on both Ford and Lincoln CPOs now covers new technology such as MyFord Touch® and MyLincoln Touch, adaptive cruise control and Blind Spot Information System (BLIS®) with cross-traffic alert.
Marc Cross, owner of Jordan Ford in San Antonio, Texas, is one of the top 25 Ford CPO volume dealers in the country. His dealership just set an all-time CPO record in July for selling 94 vehicles in one month.
“When most people buy a used car, their biggest fear is what’s going to happen later,” Cross says. “The new enhanced warranty helps alleviate some of that apprehension.”
According to Todd Fites, national CPO sales manager, Ford Lincoln CPO programs enable customers to get a like-new car with new-car peace of mind, and many are able to enter a vehicle segment they couldn’t otherwise afford.
“Fifty-five percent of these customers are new to the Ford and Lincoln brands, and research shows that a new CPO customer is twice as likely to come back and buy a new Ford product in the future,” Fites says.