Ford Expects to Sell Escape Hybrid At Loss
DEARBORN, Mich. (Reuters) - Ford Motor Co. said it will sell a gasoline-electric hybrid version of the Ford Escape small sport/utility vehicle at a loss while it tries to cut the costs of the hybrid system in half.
"We have to subsidize the price of the hybrid technology," said Prabhakar Patil, chief program engineer for the hybrid Escape, set to go on sale late this year. "We feel it's important to get in the market for this technology and get feedback from customers."
The hybrid Escape, the first such vehicle to hit the market from a Detroit automaker, will boast a combined fuel economy of 35 to 40 miles per gallon in city driving and 30 mpg in highway driving. The four-cylinder base model Escape averages 23 mpg in city and 28 mpg on the highway. Executives claim the hybrid Escape's performance will match that of the V6 model.
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