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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RE: high sticker
1/27/2013 3:36:52 PM
I honestly cannot tell if you're being sarcastic or not.
In all seriousness, though, I am holding my breath for VW's latest generation XL1 which promises 250mpg and is expected to be sold in 2014. That kind of efficiency I can tolerate for general transportation purposes. I could drive from Vancouver to Halifax for $50 worth of gas or do a real roundabout tour of the US/Canada for maybe $300. That would be just fantastic and it has me somewhat excited about cars.
RE: high sticker
1/28/2013 10:57:43 AM
What the Free Market thinkers are failing to admit is that these cars are selling. Yes, supply is outstripping demand. That's a problem with the company's and their farcical marketing departments. The actual cars, once made, are SELLING which means there is DEMAND. If the manufacturers match supply to demand, they are now making PROFIT. If they can reduce costs and price, they can increase demand.
So EVs are not a failure at all. The free market has spoken - people are buying them at their early outrageous prices.
The problem is that that market is too premature, the technology remains extremely expensive, and the government's tax credit is basically a stop gap subsidy for the car companies who need to drive down costs (while retaining an extra 7.5k margin buffer they no longer have to fund). In other words, the Free Market is contorted. It has spoken - but with a wee bit of encouragement at our expense.
"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation
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