Projo Cars Blog

Ford is offering a one-time buyout to the 81 members of its dealer development program, according to Automotive News.

Most of them are minorities.

Under the terms of the offer, Ford will refund their full investment if they give up their Ford or Lincoln-Mercury dealerships, even if their current stake is worth less than their original investment, accoring to Automotive News.

The authorative industry weekly news magazine said Ford will offer an additional $100,000 to operators whose dealerships are their only source of income.

Automotive News said the dealer development program gives would-be dealers who lack adequate capital an oppportunity to acquire their own stores. Over the past two years, Ford has eliminated 340 stores overall, leaving it with 4,056 nationally.

"Ford is taking this action as part of an effort to ensure a sustainable dealer development program," Automotive News quoted Ford program director Jamy Hall in a letter Hall wrote to dealers.

It cited Ford as saying the planned closures

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