Ford Motor Co. (NYSE: F) sold 18 concept cars on Thursday at an auction at the Sports and Classics of Monterey sale, raising more than $1 million for the Juvenile Diabetes Research Foundation and to the Children’s Center of Wayne County, Mich., which assists troubled children and families.
The concept cars which were sold mapped our new design directions for Lincoln and Mercury models which were never followed. Some of the cars lacked powertrains and those that were capable of operation were sold with specific warnings that they had not been certified by the Department of Transportation or the Environmental Protection Agency and could not be legally registered for road use.
Two vehicles which received a lot of attention from bidders included the 2001 Lincoln Mk9 coupe and Mark X concepts, as well as two forms of the 2002 Lincoln Continental, one, a shell version selling for $15,400 and a more complete version which went for $56,500.
Aside from the concept cars sold by Ford Motor Co. (NYSE: F), other notable Ford products in the RM sale included a 1962 Lincoln Bubbletop limousine used by President John F. Kennedy. It sold for $429,000, below the presale estimate of $500,000 to $750,000.
Ford Motor Company (Ford) is a producer of cars and trucks. Ford and its subsidiaries also engage in other businesses, including financing vehicles. It operates under two segments: Automotive and Financial Services. The Automotive segment includes the operations of Ford North America, Ford South America, Ford Europe, Ford Asia Pacific Africa and Volvo. The Financial services include the operations of Ford Motor Credit Company and Other Financial Services. In August 2010, the Company completed the sale of its Swedish Volvo Car unit and related assets to China’s Zhejiang Geely Holding Group Co.
Shares of Ford Motor Co. (NYSE: F) traded down 0.98 % hitting $12.15 during mid-day trading on Friday.
