Ford To Test 'Name-Your-Price' Online Selling Strategy

Starting this week, a new program from the Ford Motor Co. and priceline.com will allow Florida residents to use the Internet to name their own price for a Ford car or truck of their choice and transact through a local Ford dealership. When the test concludes, the two companies will decide how broadly to expand it. Florida customers who visit Ford's Web site can "virtually" shop for the exact Ford car or truck they want, then have the option to name their own price and payment method. Priceline.com distributes consumers' purchase offers directly to local Ford dealerships, beginning with the dealership located closest to the buyer. The first dealership to accept the offer gets the sale. The Ford/priceline.com car buying experience is very different from other services on the Internet because it is the first time that a price named by the customer and accepted by the dealer online can be honored by a local car dealership, Ford says.