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Ford to hack $4k off price of Focus EV amid slow sales

Between slow sales and a hefty price drop for its nearest rival, the Ford Focus Electric may be looking at a pretty substantial price cut. The Detroit News is reporting that Ford will drop the price of the all-electric by about $4,000 to $35,200 to be more competitive with the Nissan Leaf, which received a big price cut for 2013 down to $28,800.
Ford has already admitted to having low expectations for the car's sales and massive rebates were reported earlier in the year, but there is still no official word from Ford on this matter. The company's consumer site still lists the 2014 model's starting price as $39,200. In addition to the Leaf, the Focus Electric will also have to deal with the lower prices of smaller EVs including the Honda Fit EV, Fiat 500e and the Chevrolet Spark EV.

Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Mustang-themed pinball game debuting in Chicago [w/video]

Believe it or not, but new pinball machines are still being made. Chicago-based Stern Pinball still makes them and has found a niche selling modern machines to individual buyers and arcade distributors. For its latest cabinet, Stern partnered with Ford to create a pinball game that pays homage to the 50th anniversary of the Mustang, including the next generation. The new machine is being unveiled at the Chicago Auto Show on February 6 and goes on sale in March.
Stern is offering the machine in three variants. The pro-level machine is meant for arcades and public spaces and retails for $4,995. All of them come with background and cabinet art by Camilo Pardo, who designed the Ford GT, and Top Gear USA host Tanner Foust is the game's announcer. Depending on where players shoot the ball, they activate events that simulate drag racing, rallying, drifting and racing the Mustang, and hitting targets lets players shift the gears up and down.
An upgraded, premium table with added art will be added later for pinball machine collectors. The third model is a signed, special edition with art of the 1965 Mustang and 2015 Mustang on the machine and chrome and Mustang badges on the speaker grilles. Prices for these editions will be announced later.