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 Ford Moves Aggressively in Price, Service, and Products Following Enactment of Korea-U.S. FTA

DATE: Will be calculated from "Release Start Date" field.

​SEOUL – With the implementation of Korea-U.S. Free Trade Agreement (FTA), Ford Sales Service Korea is taking aggressive actions to enhance its value story, improve product offerings and reduce cost of ownership for Korean customers by lowering parts prices, providing a best-in-class warranty and improved used car value retention.

Ford Korea is lowering prices on all 2012 Ford and Lincoln vehicles as much as KRW 5.25 million, including price adjustments for vehicles in stock prior to the March 15 effective date.

In addition, Ford is reducing consumer prices of vehicle parts up to 35 percent. Ford’s actions represent the largest price cut for both cars and auto parts of any import brand in the market.

Jae Jung, president of Ford Korea, states, “We have examined all aspects of our offerings – from vehicle pricing, parts pricing and warranties – to best position the Ford and Lincoln brands to Korean customers at the onset of the Korea-U.S. FTA. The newly enforced free trade agreement makes Ford∙Lincoln brands a best choice for customers who desire to own imported cars at reasonable price with best-in-class warranties.”

Reduced Vehicle Pricing through the Korea-U.S. FTA
Beginning March 15, Ford Korea will reduce vehicle prices of all 2012 models manufactured in the United States. Highlights include:

• All Taurus models, Explorer 3.5-liter, Mustang Coupe/Convertible and Escape prices will be reduced from KRW 1.8 million to KRW 2.65 million
• The price of the Taurus SHO, one of Ford Korea’s most popular models, will be available at KRW 49.55 million, down KRW 2.85 million from KRW 52.4 million.
• Lincoln MKS will now be sold at KRW 53.95 million, down KRW 4.05 million from KRW 58 million.
 
Prices of cars with engine size of less than 2,000cc such as the Explorer 2.0 EcoBoost and Focus will go down immediately with the lowering of tariffs. Prices of Fusion and Lincoln MKZ built in Canada and Mexico will be reduced as well, as they also benefit from reduced taxes on cars with the engine size of 2,000cc or larger.
 
Finally, Ford Korea is also taking special pricing action on two important vehicles – the Lincoln MKX and its new Fusion Hybrid. Lincoln MKX price will be reduced to KRW 53.75 million, down KRW 5.25 million from its 2011 model. On top of that, Ford will offer an introductory price for the Fusion Hybrid of KRW 42.9 million.
 
Improved Cost of Ownership for Korean Customers
Ford Korea also made a decisive move to reduce parts pricing up to 35 percent on 161 of the most used auto parts, including engine oil, air filters, batteries, and maintenance parts such as doors, fenders, hoods, bumpers and many others.
 
Last November, Ford Korea extended the bumper-to-bumper warranty to 5 years/100,000 km, becoming the first automaker in Korea – import or domestic – to offer such a program across its entire lineup.
 
These actions are expected to reduce customer costs during their ownership cycle and enhance customer satisfaction with new and existing Ford and Lincoln owners.
 
Not only is Ford Korea taking strong consumer focused actions through pricing and warranty offerings, but it will increase customer convenience. Ford Korea, along with its two dealers, Sunin Motors and Premier Motors, plans to open nine new service centers across the nation by the end of this year. This will allow Ford to serve the lowest number of cars per service center among foreign brands and to provide greater convenience for customers by minimizing repair and maintenance time.
 
Ford Product Momentum Continues in 2012
In January, Ford Korea launched a new Explorer with the all-new, highly efficient 2.0-liter EcoBoost engine. This was followed by the launch of Ford’s first hybrid vehicle, the Fusion Hybrid, in February. Ford Korea is now preparing to introduce a series of all-new or refreshed vehicles focusing on high fuel efficiency and eco-friendliness following the implementation of the Korea-US FTA.
 
In addition to the Explorer EcoBoost and Fusion Hybrid, Ford will introduce the following by the end of 2012:
• All-new Escape small SUV
• Significantly refreshed Taurus and Taurus SHO
• 2013 Lincoln MKS
• 2013 Lincoln MKX
• 2013 Mustang
• 2013 Focus Diesel
• All-new Fusion mid-size car
• All-new MKZ
 
By the end of this year, more than 90 percent of Ford’s product lineup will be all-new or significantly refreshed and will include four all-new fuel efficient engine options.
 
Jae Jung stressed “Differentiated customer service and satisfaction and extended benefits in car maintenance on top of the new product line-up will become another reason to become an owner of Ford•Lincoln brands. With the enactment of the Korea-US FTA, we will continue to offer not only monetary benefits but also the highest level of service and new, innovative models to all patrons of Ford•Lincoln brands.”
 

  

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3/15/2012 6:00 AM