Ford Motor has launched a new initiative to expand its electric vehicle (EV) sales by addressing key concerns potential buyers may have.
The “Ford Power Promise” program, which began on Tuesday, aims to ease the financial burdens of EV ownership, particularly about charging infrastructure.
Buyers of Ford’s latest electric models, such as the F-150 Lightning pickup and the Mustang Mach-E crossover, will benefit from complimentary home-charging installation, as well as other services designed to help them transition from traditional gas-powered vehicles.
The move reflects Ford’s broader strategy to address the slower-than-expected growth in the EV market, especially among mass-market buyers.
Source: CNBC
Free home charging
The Ford Power Promise includes the installation of a level-two home charger, valued at $1,310, for all customers purchasing or leasing a new Ford EV.
By offering this complimentary service, Ford hopes to eliminate one of the primary concerns of new EV owners—the cost and installation of home charging stations.
The program provides ongoing support for customers, with complimentary 24-hour advisor service and five years or 60,000 miles (whichever comes first) of roadside assistance.
This extra layer of security is designed to give new EV owners confidence that Ford is not only selling them a vehicle but also supporting them throughout their ownership experience.
Financial incentives and flexibility for EV buyers
For those buyers who do not require a home charger, Ford offers a $2,000 cash equivalent, allowing customers to put the money toward their purchase or lease instead.
This flexibility is key to Ford’s strategy, as it recognizes that not all customers may need the installation service—particularly those who live in urban areas with access to public charging stations.
The offer is set to run through the fourth quarter of 2024, but Ford has hinted at the possibility of extending the program, depending on its success.
This aligns with the company’s broader goal of boosting EV sales by easing the financial and logistical transition for new customers.
EV market growth slower than anticipated
Although EV adoption has grown, the pace has been slower than anticipated for many automakers, including Ford.
Early adopters flocked to the new technology, but expanding EV sales to mainstream buyers has proven challenging.
High costs, a lack of charging infrastructure, and “change anxiety”—a term Ford uses to describe consumers’ fears about the unknowns of EV ownership—are all significant hurdles.
The Ford Power Promise addresses these challenges head-on.
By providing both the hardware for charging at home and the necessary support to manage an EV, Ford hopes to lure more buyers who are still on the fence about making the switch from petrol and diesel vehicles.
Ford’s EV warranty
Ford is also ramping up its efforts to educate consumers about the benefits of its existing warranty program for EVs.
The company’s 8-year or 100,000-mile battery warranty is designed to provide peace of mind for new buyers, though Ford discovered that many customers were unaware of this offering.
By emphasizing that the battery—and the high-voltage systems—are fully covered, Ford hopes to boost confidence in its EV products.
Ford’s standard vehicle warranty covers other components for three years or 36,000 miles, ensuring that customers have comprehensive coverage for their vehicles.
Ford’s position in the EV market
In the first half of 2024, Ford ranked as the third-bestselling EV automaker in the US, behind Tesla and Hyundai Motor (which includes the Genesis and Kia brands).
Although EVs remain less profitable than traditional gas-powered cars, they represent a critical area of growth for automakers, particularly as fuel economy standards tighten.
The Ford Power Promise is a clear attempt to address the specific concerns that have held back mass-market adoption of EVs.
By focusing on customer education, support services, and flexible financial incentives, Ford aims to solidify its position in the evolving EV landscape and ensure that its electric vehicles become a more viable option for mainstream buyers.
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