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Ford Motor might decide to scrap its Mercury brand rather than spend money trying to revive it, the Los Angeles Times reported on its Web site on Monday.
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AP |
Last week Jerome York, a former auto executive and advisor to billionaire investor Kirk Kerkorian, said giving up Mercury would be a smart move for the struggling automaker, which is trying to boost its Ford and Lincoln brands.
Kerkorian's investment company Tracinda owns 4.7 percent of Ford [F
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] and said Friday that it might raise its stake to more than 5.5 percent.
After regularly selling half a million vehicles a year during the mid-1980s, Mercury sold only 168,000 cars and sport utility vehicles last year, the Times said.
MORE FROM CNBC.COM |
Mercury's U.S. sales are down 23 percent this year -- the biggest drop for any brand except Chrysler and Hummer, the paper reported.
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