Ford Says You Can Never Own Leased EVs
Ford Motor Co. will be suspending end-of-lease buyout options for customers driving all-electric vehicles, provided they took possession of the model after June 15, 2022. Those who nabbed their Mach-E beforehand will still have the option of purchasing the automobile once their lease ends. However, there are some states that won't be abiding by the updated rules until the end of the year, not that it matters when customers are almost guaranteed to have to wait at least that long on a reserved vehicle.
The change, made earlier in the month, cruised under our radar until a reader asked for our take over the weekend. Ford could be wanting to capitalize on exceptionally high used vehicle prices, ensuring that more vehicles make it back into rotation. The broader industry has likewise been talking about abandoning traditional ownership to transition the auto market into being more service-oriented where manufacturers ultimately retain ownership of all relevant assets. But it may not be that simple as this being another step in the business sector's larger plan to maximize profitability by discouraging private vehicle ownership.
[...] While leasing customers will not be able to buy their EV, Ford Credit will allow them to renew an expiring contract in exchange for a brand-new model. Amazingly, the manufacturer is trying to frame this as environmentally responsible. But it smells like planned obsolescence and desperation from where I'm sitting. Ford knows that electrics require far less labor to produce. By also retaining/recycling the most-expensive component (the battery) it can effectively maximize profitability on a three or four-year turnaround. For now, the updated leasing scheme is limited exclusively to all-electric products (e.g. Ford Lightning or Mach-E "Mustang") sold in 37 individual states. But the long wait times for new EVs and Ford's desire to expand the plan through the rest of the year effectively means it'll be national by the time most people take ownership.
they grimy for that...
