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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.

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

NACTOY winners, and driving the Genesis GV60, Polestar 2, Mercedes-AMG GLS 63 | Autoblog Podcast #813

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. This week, we discuss the North American Car, Truck and Utility of the year winners: The Toyota Prius, Kia EV6 and Ford Super Duty (and Greg explains his votes). In other news, we talk about GM offering $7,500 incentives for EVs that lost their tax credits, another possible calendar change for the Detroit Auto Show and Stellantis potentially scaling back its auto show presence. Greg spent his winter break with the Genesis GV60 and Polestar 2, while John has been driving the Toyota Prius Prime and Mercedes-AMG GLS 63. Finally, they take to Reddit for this week's Spend My Money question, and pick a sedan under $6,000. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #813 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Toyota Prius, Ford Super Duty, Kia EV9 are 2024 North American Car, Truck, Utility of the Year winners GM offers $7,500 incentive for EVs losing tax credit Detroit Auto Show going back to January? Stellantis done with auto shows, or is it? Cars We're Driving: 2024 Genesis GV60 Performance AWD 2024 Polestar 2 RWD 2023 Toyota Prius Prime XSE Premium 2024 Mercedes-AMG GLS 63 Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Podcasts Ford Genesis GM Kia Mercedes-Benz Toyota Truck Crossover SUV Electric Hybrid Luxury Performance Sedan Polestar