Due to slow sales, Ford has slashed $4k off the price of its Focus EV for 2014.
A failure you say? Well, kind of, yes. Ford has just announced it's knocking $4,000 off the price of its Focus EV in an effort to boost sales. Before the price drop, the Focus EV retailed for $39,200. For 2014, that price is now $35,200, which is still a good chunk more than what Nissan is asking for its Leaf, itself the recipient of a price reduction this year. (It now sells for $28,800). Note that after a $7,500 federal tax credit, the Focus EV will come in at $27,200. However, there's new competition aside from the Leaf that was behind Ford's price cut decision.
Lower priced EV examples include the Fiat 500e, Chevy Spark EV and the Honda Fit EV. Now, Ford has made clear that it won't match the prices of those smaller competitors, claiming that it's "not going to chase down the lowest possible price – that doesn't make sense to erode the brand image of the true value of the product," according to a Ford spokesperson. But still, for a car that had fairly high expectation upon its launch, the Focus EV is simply not selling in the numbers Ford had hoped for. Ford previously offered heavy lease discounts (around $10k) and even offered $2k off the base price for cash purchases in the past.