Dealershps

New Ford Promise program allows buyers to return their vehicle if they lose their job

A new ad campaign supporting the offer will begin running today.

Photo courtesy of Ford Motor Company

With employment uncertainty continuing in the wake of COVID-19, Ford is offering a new program that offers buyers the option to return the vehicle if they lose their job in the next year.

"We feel like right now, the economy is at the stage of recovery where people want things to be back to normal, they want to buy, but they're still a little nervous about what the future holds," said Mark LaNeve, vice president, U.S. marketing, sales and service. "We want them to know we understand that, and we're here to support them in their buying decisions."

2020 Ford Escape Hybrid Buyers of the 2020 Ford Escape Hybrid are eligible for the program. Photo courtesy of Ford Motor Company

The new Ford Promise program extends to customers who lease or purchase a vehicle with Ford Credit financing and then lose their job within a year.

Here's how it works.

Ford Credit will value the vehicle using the National Automobile Dealers Association (NADA) average trade-in value, reduce the customer's outstanding balance by that amount and waive up to an additional $15,000. The customer is responsible for any difference remaining. In addition, the customer is responsible for any late or deferred payments due and vehicle damage. Once the conditions are met, the account is reported as closed and paid.

Additionally, Ford Promise covers 2019, 2020 and 2021 purchased or leased new, used and certified pre-owned vehicles financed through Ford Credit. Vehicles must be for personal use only; commercial use contracts are ineligible. The complimentary protection begins 30 days after vehicle purchase or lease.

An ad campaign launches today supporting the program.

Enrollment is open through September 30.

Ford is a on a roll introducing new product this year. We've already seen the next-generation Ford F-150. The Ford Bronco will be revealed July 13 and we can expect to see the Bronco Sport soon as well. The Ford Mustang Mach-E is ramping up for production and the company recently announced the introduction of new hands-free driving technology.

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Honda notified dealers of upcoming supply cuts.

Photo courtesy of American Honda Motor Co., Inc

Honda, like all major automakers today, is truly a global operation. Though it produces plenty of vehicles here in the United States, many of the components it relies on for manufacturing come from elsewhere in the world. That means Honda, like the other auto giants, needs its global supply chain operating smoothly in order to prevent disruption. Unfortunately for Honda dealers and potential customers, disruption is what's about to happen. The automaker recently sent a letter to its dealers, forecasting reduced vehicle supply in the coming weeks.


2021 Honda Ridgeline No. 19 - Honda Photo courtesy of American Honda Motor Co., Inc


The dealer letter, posted to the Civic XI forum and fan site, was dated August 25 and confirmed by a dealer upset with the development, according to Automotive News. In the letter, Honda cites the ongoing pandemic and microchip shortages as major factors impacting its production efforts. Total shipments to dealers could be cut by up to 40 percent, but not all models will be affected to the same degree.

The letter noted that supplies of the Pilot and Passport SUVs will hold steady, and shared that production of the Civic hatchback is on schedule. However, the situation is fluid and could change at any time, so there's a chance that timelines could speed up or slack off as necessary.


2022 Honda Pilot Some models will see more cuts than others.Photo courtesy of American Honda Motor Co., Inc


Honda is just the latest in a long line of automakers struggling to keep pace with demand in the face of several converging global crises. In an effort to keep vehicles rolling out of factories, General Motors has implemented selective feature cuts in some of its new vehicles, such as the removal of engine start/stop tech from some trucks and SUVs. Earlier this month, Ford Motor Company told Mustang Mach-E buyers to expect delays of at least six weeks as it grapples with the chip shortage, and will temporarily reduce production capacity at a few of its plants.

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The Bronco will get two new colors for 2022.

Ford

The new Ford Bronco was in such high demand that buyers were in for a long wait, even before the pandemic and microchip shortages wreaked havoc on automotive supply chains and production. Even now, with little hope of a speedy vehicle delivery, buyers are still lining up to get the new SUV, and to reward those whose dreams will have to wait until 2022, Ford is debuting two new colors: Eruption Green and Hot Pepper Metallic.


2022 Ford Bronco Eruption Green and Hot Pepper Metallic will be available. Ford


Ford revealed the colors at this year's Woodward Dream Cruise. The first-generation Bronco, which ran from 1966 through 1977, was the featured vehicle at the cruise, which presented the opportunity to introduce new colors for the upcoming model year. The two new colors won't join the Bronco's existing color catalog until order banks open for the new model year later in 2021. Ford says that the current color catalog which includes Antimatter Blue, Lightning Blue Metallic, and Rapid Red Metallic will be available through the end of the 2021 model year.


2022 Ford Bronco Many Bronco buyers will have to wait until 2022 to get their new SUV.Ford


The new colors may end up being the shades of choice for many current hopeful Bronco buyers. Along with pandemic-related delays, Ford's rollout of the new Bronco has been plagued by hardtop-related cosmetic issues. The problem is big enough for the automaker to replace the top of every hardtop Bronco built so far. This includes vehicles already purchased, the rare few sitting on dealers' lots, and even recently produced vehicles still hanging around the factory. Buyers still waiting for their Broncos to be built will be waiting a while, to the point that Ford says many orders will be pushed into the new model year. Ford is offering Bronco-related merchandise and promises a price lock for all buyers whose orders have been pushed, and now it appears they'll have two new colors to choose from as well.

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