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FORD MOTOR COMPANY AND MECUM AUCTIONS SETTLE LITIGATION OVER FORD GT OWNERSHIP AGREEMENT

On May 19, 2018, Mecum Auctions presented a limited edition 2017 Ford GT for auction at its Spring Classic Auction in Indianapolis, Indiana, attracting global media attention that potentially caused confusion with Ford GT owners and the general public.

Ford brought action against Mecum in Marion County, Indiana.  Ford and Mecum are pleased to announce that all matters subject of the litigation have been resolved and settled on terms that are designed to promote mutual good will and business respect.  

The litigation settlement clears up any lingering confusion that surrounds the Ford GT ownership agreement and its enforceability.  While the terms of the settlement agreement are and will remain confidential, Mecum and Ford agree as follows:

  1. Mecum will not accept for consignment sale any Ford GT owned by its original purchaser that is still subject to the two-year sales moratorium;
  2. Mecum will consult with Ford regarding any Ford GT consigned with Mecum by any downstream purchaser (i.e., not that GT’s original purchaser) for the first two years following the GT’s initial sale to the original purchaser, and will not permit the auction sale of that GT during that time without Ford’s consent; and
  3. Settlement proceeds from Mecum will be donated to the Ford Motor Company Fund.

Final orders dismissing all matters in controversy have been entered by the Marion County Commercial Court.  Ford and Mecum jointly urge that all original purchasers of Ford GTs abide by the terms of their agreements in order to avoid controversy.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams.  The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers.  Ford designs, manufactures, markets and services a full line of connected, increasingly electrified passenger and commercial vehicles:  Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles.  The company is pursuing leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company.  Ford employs about 184,000 people worldwide.  More information about the company, its products and Ford Motor Credit Company is available at corporate.ford.com.

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