Ford Motor Company (NYSE:F) has been invested in electric cars for several years - with results that might not be called tremendously positive in general but with certain pockets of success. Ford started out modestly in selling the vehicles, offering them on lots of 200 dealerships across the country, with concentrations in California and New York. Well, though the sales have been less than brisk, the company is apparently deciding to invest more capital in the burgeoning automotive segment.
Ford Motor Company (NYSE:F) announced that it is looking to boost sales of three models of electric cars by increasing the number of certified dealerships from 200 at the end of 2012 to 900 by spring, which would up the inventory of certified electric-vehicle dealerships to about one-third of the total number of Ford lots. These certified dealerships would have specially trained sales and service staff and would include at least two charging stations for these vehicles.
In October, Ford Motor Company (NYSE:F) unveiled the new C-Max Energi hybrid, and the company reported selling more than 2,700 units in three months. That is actually more than four times the number of Focus Electric vehicles that were sold in the entire 2012 calendar year. This new investment is designed to highlight and boost sales of the C-Max Energi, the Focus Electric and the Fusion Energi vehicles. Besides the infrastructure investment, Ford is offering discounts of up to $10,000 on Focus Electric leases and $10,750 on Focus Electric leases. The company also said it would take $2,000 off the price of the Focus EV for cash sales, and is offering 1.9-percent financing through Ford Motor Credit.
What do you think of this investment by Ford Motor Company (NYSE:F)? How do you feel about the electric or hybrid vehicle market? Can these vehicles pay off in the long run? Let us know your thoughts in the comments section below.
DISCLOSURE: I won no positions in any stock mentioned.
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