There’ve been a spate of price drops recently in the EV market. US News spends a moment rounding them all up, noting price drops for the Nissan Leaf and Chevy Volt (which we covered earlier), as well as price drops in leases for the Honda Fit EV and Chevy Spark. Unfortunately they also missed the low price of the Smart ForTwo ED (which we also covered) hitting some amazing new lows and the fact that Mitsubishi dealerships struggling to sell the iMiev had been offering some heady discounts on a case by case basis. Toyota has also discounted their electric version of the Rav 4 (from $599 to $299).
In fact, the article misses more than it covers, so let’s round it all up here with the figures and links, so that potential buyers can get a glimpse of the major current EV sales and leasing market:
Nissan Leaf: $28,800 (range 73 miles) / Lease: $1,999 down & $199/month, 36 months
Fiat 500e: $31,800 (range: 87 miles) / Lease $999 down & $199/month, 36 months
Chevy Spark: $26,685 (range: 83 miles) / Lease $1,999 down & $199/month, 36 months
Smart ForTwo ED: $25,000 (range: 90 miles) / Lease $1,999 down [waived if you’re a current Mercedes owner] & $139/month, 36 months
Toyota Rav 4: $49,800 (range: 103 miles) / Lease: $3,999 down & $299/month, 36 months
Chevy Volt: $34,185 (range 35 miles, then gas engine kicks on) / Lease: $2,499 down & $299/month, 36 months
Toyota Prius Plugin Hybrid: $32,000 (range: 11 miles, then gas kicks in) / Lease $0 down & $299-$359/month, 36 months (check local dealer)
Tesla Model S: $63,570 (range: 208 miles) / no lease options.
Pulling all these together allows you to see the breadth of the current electric vehicle market (there are a few not on here, it’s not quite comprehensive, but more so than most articles out there). If you’re looking for cheapest monthly payment, the obvious winner is the Mitsubishi iMiev, but so far the Smart ForTwo ED is the cheapest all electric vehicle out there on base price. It also has a compelling lease price that is roughly the same size as some people’s home phone bills. And it’s quite clear Chevy isn’t pushing the Spark as strongly as it could be, as it’s a very compelling electric car.
But will all these price drops help move cars? That’s the question. And one we’ll find the answer to in the upcoming months.