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    Ford:money-back on 2004 or older trade-ins

    Canadian Ford consumers turning in 15-year-old or older vehicles for recycling will get up to $3,000 toward the purchase of a new Ford product, the company announced Wednesday.

    Ford’s program ––a joint venture with the Clean Air Foundation –– builds on the Canadian government’s Retire Your Ride initiative which offers $300 and other benefits to eligible participants, the company said.

    “No one is offering more incentive to ‘Recycle Your Ride’ than Ford,” said David Mondragon, president and CEO, Ford of Canada. “People who might otherwise not be able to buy a new car can now afford the latest in vehicle safety, fuel economy and smart technology.”

    According to the foundation, on average, a 1995 model year or older car emits 19 times more smog-forming emissions than a 2004 or newer car.

    “This market stimulus puts more disposable income back in the hands of hard working Canadians who need help in today’s economy.  It’s a win-win-win for the consumer, the economy and the environment,” said Mondragon.

    Ford’s program comes on the heel of similar scrap incentives announced by Chrysler Group LLC and Hyundai.

    The industry as well as the Canadian Automobile Dealers Association have been lobbying the federal government to match at U.S. program which offer consumers rebates up up to $4,500.

    Federal Environment Minister Jim Prentice said he would make a decision by Sept. 1 on whether to expand Retire Your Ride, but so far, no changes have been announced.

    The MONEY® Network