The resale value of newer Ford Motor Company vehicles rose 23 percent in the past year alone, the result of stronger demand for Ford's new vehicle lineup and improved quality and durability ratings.
At the same time, warranty repair rates on Ford vehicles have declined by an average of more than 40 percent globally in the past three years.
Ford, Lincoln and Mercury vehicles with one to five years on the road are fetching significantly higher resale values at auction in the first quarter of this year compared to the first quarter a year ago. Overall, the resale value of Ford's three brands at auction rose 23 percent from a year ago to outpace the industry, which saw resale values increase by 19 percent, according to the latest National Automobile Dealers Association auction data.
Rising resale values means more money in customers' pockets when it is time to sell or trade in for a new vehicle. Combine these savings with lower repair and maintenance costs and better fuel economy, and the cost to own a Ford product drops dramatically over the life of the vehicle.
Ford performance in third-party consumer quality rankings has been steadily improving for the past several years. Years of a consistent and disciplined focus on quality is paying off, including a marked decline in warranty repair rates.
Ford has reduced its warranty repair rates on vehicles in their first three months of service by an average of more than 40 percent in every major business region around the world in the past three years.
Ford, Lincoln and Mercury vehicles' initial quality in the U.S. has improved for five straight years. Ford vehicles now have the fewest number of defects of any full-line manufacturer, according to the GQRS study conducted by RDA Group.
For Ford customers, this means fewer trips to the dealership for repairs. This also means savings for Ford as the company has reduced its warranty repair costs by $1 billion in the past three years.
Source: Ford Motor Company
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