Ford's dealer development program works to help people become dealer principles who might not otherwise have the chance. The 64 members of the program, most of them black or Hispanic, are set up with stores by Ford and then buy out Ford's interest in the dealership with revenues. To give them a boost and, presumably, free up Ford money, Automotive News is reporting that Ford is offering dealers in the program an offer they'll have a hard time refusing: complete ownership of their stores for $1.
Dealer Development Program
Ford has a dealer development program aimed at helping those who lack up-front capital open a dealership. The dealer pays Ford back with profits from the business, and slowly buys out Ford's stake. There are 81 dealers in the program now, 62 of which are minorities who the program was originally intended to aid, and Ford has offered to buy all of them out by returning the dealer's full investment.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models