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

2013 Chevrolet Volt 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

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. 

Cars

NYC mandates minimum wage for Uber, Lyft, other app-based rideshare drivers

New York City's Taxi and Limousine Commission approved a rule that drivers for companies such as Uber and Lyft must be paid at least minimum wage, even though they are independent contractors. The new pay rate includes operating costs.
Home Theater

These awesome A/V receivers will swarm you with surround sound at any budget

There is no one-size-fits-all approach to shopping for a receiver, so we assembled our favorites for 2018, at multiple price points and all loaded with features, from Dolby Atmos to 4K HDR, and much more.
Cars

2020 Toyota Supra caught hiding in a trailer without a shred of camouflage

Toyota's plan to once again lure enthusiasts into showrooms involves bringing back the Supra, one of its most emblematic nameplates. Here's what we know so far about the upcoming coupe, which Toyota is developing jointly with BMW.
Cars

These winter-warrior cars will never leave you out in the cold

Snow can be an absolute pain if your vehicle isn't optimized to handle that sort of terrain. If brutal snowstorms are an annual part of your life, we recommend you pick up one of these winter-ready vehicles.
Smart Home

Ring Alarm vs. Nest Secure: Which one is right for you?

Thanks to the advance of technology, it's become really easy nowadays to secure your home and protect it from thieves, intruders, and unwanted guests. Which one of these two top contenders is right for you?
Cars

LM Industries’ autonomous shuttles head to Phoenix, Sacramento campuses

LM Industries will deploy Olli low-speed autonomous shuttles at school campuses in Arizona and California as part of its ongoing "fleet challenge," which asks local groups to propose uses for autonomous vehicles.
Cars

Driving a prototype 2020 Passat at Volkswagen’s Arizona Proving Ground

Volkswagen’s Arizona Proving Ground is where new cars are tested to the breaking point, including the 2020 Passat midsize sedan. Ride along as the new Passat completes testing ahead of its 2019 launch.
Cars

Bosch’s CES-bound shuttle concept takes us on a trip to a not-too-distant future

Bosch envisions a future in which driverless shuttles occupy their own market segment. The German firm won't build the shuttles, but it wants to provide everything else, ranging from the drive system to the apps used to hail them.
Emerging Tech

A lidar-equipped truck knows exactly how much de-icer to apply on roads

Lidar is best known as the laser-based technology that helps self-driving cars sense their surroundings. But the city of Knoxville has another, more seasonal use for it: De-icing roads.
Product Review

Boring takes a back seat as 2019 Corolla Hatchback mixes fun with practicality

We drive the 2019 Toyota Corolla Hatchback, the latest hatchback to bear the Corolla name. As the best-selling nameplate in automotive history, Toyota has high expectations to meet. This model mostly lives up to the legacy.
Cars

Hertz speeds up car rentals with biometric scan technology

Biometric security technology that uses face, fingerprint, and voice recognition is gaining traction, with Hertz emerging as the latest company to incorporate it into its daily operations.
Product Review

Inside Maserati's Levante SUV beats the heart of a Ferrari

Maserati’s luxury SUV gets a shot in the arm by way of Ferrari-derived V8 power, but is it enough to go toe-to-toe with the established players in the high performance sport-utility segment? Let’s find out.
Mobile

McLaren puts the pedal to the metal in special-edition OnePlus 6T

The OnePlus 6T is yet another flagship killer smartphone, bringing powerful specifications to a much lower price than the competition. Now, OnePlus has teamed up with McLaren for the OnePlus 6T McLaren Edition.
Cars

Aston Martin’s 1,000-hp Valkyrie will boast the Mona Lisa of the engine world

Aston Martin has released new details about its F1-inspired Valkyrie hypercar. Co-developed with Red Bull Racing, the Valkyrie will be one of the most aerodynamic production cars ever made.