* Company looking to maintain sales, market-share momentum
* Program runs for 60 days
Ford Motor Co's (F.N) Canadian subsidiary, seeking to maintain sales momentum, said on Wednesday it will offer up to C$3,000 ($2,700) toward the purchase of a new Ford to customers who turn in a vehicle 15 years or older.
The company said its Recycle Your Ride incentive builds on the federal government's Retire Your Ride program, which gives C$300 to consumers who want to turn in an old vehicle.
David Mondragon, Ford Canada's chief executive, has been a vocal proponent of expanding the federal program along the line of the recent cash for clunkers program that generated big sales in the United States.
We understand that the government is reassessing the Retire Your Ride program, Mondragon said in an interview.
If the government decides to make changes to the program, we hope it will be complementary to our program, but that said, in today's hyper-competitive market, we could not afford to wait.
Chrysler Canada said last week that it would offer up to C$1,500 for qualifying trade-ins, and Hyundai Canada(005380.KS) announced a C$1,000 incentive earlier in August.
Figures released on Tuesday showed that Canadian auto sales fell for the 10th consecutive month in August, but Ford was one of the standouts, notching its third straight month of sales gains and its 10th month of market-share gains. [ID:nN01507832]
Mondragon said that more than 1 million Canadians own Ford vehicles that are 15 years or older, and we want to keep them in the Ford family, adding that any make of car qualifies for the program.
It's all about momentum and continuing the momentum going into the fourth quarter.
Ford's program starts Thursday and runs for 60 days. It may then be extended.
Customers turning in their clunkers will receive C$1,000 toward a new Ford or Lincoln car, C$2,000 toward a new sport utility or crossover vehicle, and C$3,000 toward a new truck or luxury Lincoln. ($1=$1.10 Canadian) (Reporting by John McCrank; editing by Peter Galloway)