Ford Offers $10k Discount on Leases for Slow Selling Focus EV
January 25, 2013 8:48 AM
comment(s) - last by
$10,750 discount includes $7,500 federal tax credit
Electric vehicles aren't exactly selling in droves for automakers around the world. Many of today’s highly efficient gasoline-engine vehicles are offering such high fuel efficiency ratings that it makes little sense to pay the extra money for hybrids or EV for many consumers (that is unless you
live in California
Ford is trying to get customers to lease its Focus EV electric vehicle and is offering significant discounts to land buyers. Ford has announced that it has dropped the base price of the Focus EV by $2,000 on cash purchases. Ford is also offering as much is $10,750 off the cost of a three-year lease.
Ford also plans to offer 1.9% financing on the Focus EV if purchased through Ford Motor Credit. The Focus EV didn't have a good 2012 with Ford selling only 685 of 1,627 vehicles it built. That sales rate made the Focus EV one of the
in the industry.
Ford isn't alone in having to discount its electric vehicles to get consumers more interested; Nissan also recently dropped the price of its 2013 Leaf by 18%. The Leaf now
starts at $28,800
and Nissan is offering new incentives to help boost sales.
"We certainly are not in a situation where we have to completely discount but we do have to respond to competitive pressures," Ford spokesman Wes Sherwood said. "We're not anywhere close where Nissan has gone with the Leaf."
The Ford lease offer is on Red Carpet leases if buyers take retail delivery by April 1. If the buyer meets those conditions, they will receive $10,750 off (a figure which includes the $7,500 federal tax credit).
The MSRP for the Focus EV base model is $39,995, while the new price for cash purchases is $37,995.
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1/25/2013 12:24:27 PM
Did the same. Chose the same car. At 40k it should be a nicer car. The extra little bit of money it costs them to include all the premium features into the electric trim would perhaps make it somewhat justifiable. They DO know that it's a niche product. they have to create a market for it first (by being a little less greedy) Yes I realize that hybrid and electric technology is new and requires a lot of research, and I'm willing to sponsor it, but they have to give more to get more too!
1/25/2013 12:53:20 PM
A little info, MSRP is not what the dealer pays for the car. Ford's cut is smaller than the sticker price.
1/25/2013 1:11:51 PM
Right-- MSRP or Mfg.Suggested Retail Price is selling price before negotiations. Invoice is what the dealer pays less any Mfg. hold back which is normally about 3% and rebated to the dealer at year end. There is also trunk money that is additional rebates to the dealer that are incentives on a certain model to encourage sales on it. This lease has another $3250 in addition to Gov. money so could be OK if the residual is fair and the money factor is low.
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