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$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 worst performers 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.

Source: Detroit News



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lease
By RDO CA on 1/25/2013 1:01:32 PM , Rating: 4
Your wrong about the lease, as you do not have to wait for the $7500 Gov. money as it is subtracted from the price the lease is figured upon. The Mfg. or leasing company gets the $7500 so it is great for some one without enough income to get all the Gov. rebate back on their taxes. And great for all as you don't have to wait to take it off your taxes like a purchase.




RE: lease
By Brandon Hill (blog) on 1/25/2013 2:46:29 PM , Rating: 2
Thanks for the information, the article has been updated.


RE: lease
By JediJeb on 1/26/2013 9:15:05 AM , Rating: 2
As much as I hate to lease a vehicle it would be the only way that I could get anywhere near the $7500 from the credit. My current W2 shows that I paid about $5500 in federal taxes, so I am thinking that is how much it would reduce my tax bill, unless it would give me a -$2000 tax bill and increase my refund by $2k, that might be nice if it works that way.


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