This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ford to Shutter Mercury Production

DETROIT ( TheStreet) -- Ford (F - Get Report) said it will shut down its Mercury brand in the fourth quarter of this year and devote its resources to Ford and Lincoln vehicles.

The decision to close Mercury, founded in 1939, came after an annual spring product review, said Mark Fields, Ford president for the Americas, at a news conference. "We decided we would focus our efforts, our resources, to continue to grow the Ford brand and to accelerate Lincoln," said Fields.

The move comes as the fortunes of the Ford brand are soaring. Fields noted that Ford gained more than 2% in market share this year, while Mercury has a market share of just 0.8%. "The gain on Ford is more than twice the absolute share of Mercury," said Fields. "Mercury brand awareness remains low"

Ford will work with the 1,712 Mercury dealers on transitions, Fields said. Of those, 925 also sell Ford and Lincoln, 511 sell Ford and Mercury, and 276 sell Mercury and Lincoln. No dealer sells Mercury exclusively.

Fields declined to provide the cost of shutting down Mercury, but said the financial guidance Ford offered in April would not be impacted by the move. No jobs will be lost, he said. Most Mercury workers will move to Lincoln.

-- Written by Ted Reed in Charlotte, N.C.
More on May Auto Sales
Toyota's Growth Slows

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
F $14.53 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs