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Ford Offers Incentive to Graduates

31 March 1998

Ford Offers Incentive to Graduates

    DETROIT, March 31 -- College grads entering the workplace
soon will find they need at least three more things before conquering the
world:  a good resume, an interview suit and some wheels.  Ford Motor Company
and Ford Credit are making that all-important car or truck purchase
or lease easier for graduates.
    The Ford College Graduate Purchase Program offers recent graduates a $400
cash bonus on the purchase or lease of any eligible new Ford or Mercury car,
minivan, pickup or SUV.  More than 32,000 college graduates took advantage of
the program in 1997.
    "Our goal is to help build long-term relationships and loyalty," said Ross
Roberts, Ford Motor Company vice president and general manager, Ford Division.

    Eligible Vehicles
    The offer applies to purchases and leases of any 1997, 1998 or 1999 Ford
and Mercury car, minivan or truck.  The most popular models selected by
younger customers are the new sporty ZX2, Mustang, Contour, Explorer and
Ranger.  They are among the highest scoring Ford vehicles in terms of owner
loyalty.  These models account for more than 60 percent of College Graduate
Program purchases.
    Any student who has graduated or will graduate from an accredited
institution including four-year colleges, junior colleges, community colleges,
nursing schools and trade schools, between Oct. 1, 1996 and Jan. 5, 1999, is
eligible to apply for the offer.  Students enrolled in graduate school also
are eligible.

    About the Youth Market
    Today's young customers are different from those of generations past.
They are more "shopping savvy," better educated and more cynical about
advertising deals and promises.  In the saturated U.S. automobile market,
growth opportunities are strong in the youth segment for companies that meet
consumers' needs with exciting new products without pandering to or
patronizing them.  Key points about the youth market:

    .  Buyers under age 30 can be expected to spend more than $300,000 on
       automobiles and related products and services in their lifetime.
    .  In 1996, consumers under 30 spent more than $50 billion, purchasing
       2.8 million new cars and trucks, 17 percent of the market.
    .  More than half of buyers under 30 are female.
    .  The average new vehicle purchase price of young buyers is $17,500.
    .  26 percent of youth market buyers shop in the basic small car segment.
    .  More than 60 percent of buyers elected to finance their vehicle through
       Ford Credit.

SOURCE  Ford Motor Company