DETROIT -- Ford Motor Co. expects its dealers to sell all remaining Mercury vehicles in inventory within about a month.
Meanwhile, about three-quarters of U.S. Mercury dealers have signed cash-settlement documents and agreed to close, said Jim Farley, Ford's group vice president of global marketing, sales and service. Ford said there were 1,700 Mercury dealers. About half of the 1,700 have removed signs and sold all their Mercurys, Farley said.
"We're right on plan with the Mercury wind-down," he said. "Basically, the dealers have done an exceptionally good job."
Ford announced in June that it would discontinue the brand by Dec. 31.
Many Mercury dealers have said they were reluctant to sign a settlement with Ford because they wanted larger payments. Dealer lawyers said they have seen settlement offers ranging from $100,000 to nearly $800,000.
Ford declined to comment on the amounts.
"We have more than three-quarters of the dealers who've already signed up, and we're approaching, frankly, all the dealers," Farley said.
The company said it will pay 100 percent of what dealers paid for parts. Dealers also may keep the parts and sell them, Ford said.
Through November, U.S. Mercury sales were up 2 percent to 84,802 vehicles sold.