Cash incentive wars for EVs now could pay off big time for shoppers down the road

By Marcus Amick June 12, 2013

If you’re considering an electric vehicle, it appears that you couldn’t pick a better time than now to buy one.

According to an Automotive News report, General Motors is beefing up the incentives on the Chevrolet Volt to help jolt sales of the electric-hybrid in order to compete with the deals being offered on the Nissan Leaf and Fiat 500e electric vehicle.

From June 3 through July 1, GM is reportedly offering cash rebates of $4,000 on the 2013 Volt and $5,000 on the 2012 model. That’s in addition to a $7,500 federal tax credit and $1,500 state tax credit for buyers in California.

Leasing a Volt will cost you $2,399 down and $269 per month for 36 months.

Automotive News reports that U.S. sales of the Volt dropped 4 percent to 1,607 units in May, leaving Chevy with a few more 2013 models on hand than anticipated.

The industry news source reports that the average transaction price for the Volt was $40,236 in May, according to Edmunds.com.

In comparison, the average transaction price for the Nissan Leaf was $31,947 in May.

Nissan-Leaf — Image used with permission by copyright holder

In fact, after Nissan cut the base price of the Leaf by $6,400 back in February, the EV’s US sales have nearly tripled to 7,614 units this year through May, according to Automotive News.

Currently, the base price of a 2013 Nissan Leaf is $29,650, which includes shipping.

Looking for something a little more compact? Well, incentives on the Fiat electric 500e include the same monthly lease payment as the base 500 vehicles with gasoline engines, reports Automotive News.

The industry news source is reporting that a $32,500 500e, which is only available in California, can be leased for $199 per month and $999 down for three years. According to a Fiat spokesman, with federal, state and Fiat incentives, the price of the 500e drops to $20,500.

Still, the biggest break for consumers might be that automakers are starting to realize even more that electric vehicles are still too expensive. If so, it could help drive companies to find more innovative ways to reduce the cost of EVs early on before it gets to the point where they have to offer cash rebates.

Topics

Virtual Reality

Former Digital Trends Contributor

Marcus Amick has been writing about the world of cars for more than ten years and has covered everything from new automobiles…

Cars

Mercedes-Benz EQG: range, price, release date, and more

Concept image of the larger electric G-Wagon

The G-Class is going electric. We already knew that Mercedes-Benz was working on an electric, small-size G-Wagon, but it looks like the company is also working on a larger G-Class SUV, in the form of the EQG. In fact, Mercedes has gone as far as to show off a concept version of the off-roader.

While there's much we don't know about what will become the production model of the EQG, Mercedes has also shared a lot about it. Curious about whether the Mercedes-Benz EQG could be the EV for you? Here's everything we know so far.
Design
Fear not -- the EQG will retain many of the design aspects of the G-Class that you already know and love but with a modern face-lift. The EQG will keep the boxy design that gives the G-Class a classic look but with some additional modern styling, at least if the concept version is anything to go by.

Cars

Rivian R2 vs. Kia EV9: battle of affordable electric SUVs

Kia EV9 GT-Line Three Quarters

The long-awaited Rivian R2 has finally been announced, and it's an excellent option for those who want an electric SUV that doesn't completely break the bank. Sure, the R2 isn't cheap -- but it's a whole lot cheaper than most other EVs out there, especially when it comes to SUVs. But Rivian isn't the only company trying to tackle the problem of the budget electric SUV. The Kia EV9 is finally available, and it too offers a modern design and a range of helpful features.

Given the fact that the Rivian R2 and Kia EV9 are two electric SUVs in a similar price range, you might be wondering which is better for your needs. That's why we put the Rivian R2 and the Kia EV9 head-to-head.
Design
Both the Rivian R2 and the Kia EV9 are actual SUVs -- not crossovers pretending to be SUVs, like plenty of other EVs out there. The two vehicles offer big, boxy designs and plenty of interior space, making them excellent options for families or those who need that extra storage.

Cars

Rivian R2 vs R1S: How will Rivian’s cheaper SUV compare?

The front three-quarter view of a 2022 Rivian against a rocky backdrop.

Rivian has finally unveiled the R2, its long-awaited attempt at a more affordable electric SUV. The new vehicle may not be available just yet, but fans of Rivian's design aesthetics and feature set are already looking forward to being able to order the new car. The R2 is targeted at being a more affordable take on the electric SUV and will sit alongside the flagship-tier R1S.

Let's get this out of the way right now: The R1S is most likely going to be a better vehicle than the R2. Rivian isn't replacing the R1S with the R2 — it's releasing the R2 as a more affordable alternative, and there will be some compromises when buying the R2 over the R1S.