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Ford partners with Amazon for dealers to sell used vehicles online
DETROIT â Ford Motor is partnering with Amazon to let the automaker's franchised dealers sell certified preowned vehicles through the online retail giant.
The new program will allow customers to secure financing, start paperwork and schedule a pickup time for the vehicles at participating Ford dealers, the companies announced Monday. Some steps, such as a final signature, may still need to be completed in person, Ford said.
The deal comes two years after Amazon said it would allow auto dealers to sell cars through its site, starting with vehicles from South Korean automaker Hyundai.
The deals between Amazon and the two automakers differ, though, as Hyundai's involves new vehicles rather than certified preowned. CPO vehicles are used but have been inspected, refurbished and certified by the manufacturer or dealer. They're considered a better quality of used vehicles than cars without the designation and have warranties, like a new vehicle.
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“Comes with a Ford Warranty”: Ford Stock (NYSE:F) Slides Despite New Sales Connection
Ford sets up a new market channel, and loses the Focus.
Legacy automaker Ford (F) opened up a new potential sales channel recently, though investors did not seem especially happy about the move. Ford got together with Amazon (AMZN) to offer up access to a used car inventory that is as easy to purchase as Amazon can make just about anything. But despite this, investors still pulled back, and sent Ford shares sliding nearly 3% in Monday afternoon’s trading.
Those hoping for a brand new Ford on Amazon will be disappointed, as the Amazon cars are limited to used car inventory only. However, the vehicles available will be “certified pre-owned,” a class that comes with some extra protection. The vehicles will receive the standard Ford inspection and reconditioning, and will also get a Ford warranty. Some of the vehicles will even boast a money-back guarantee.
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