Tag: EV

Apr 26

Here’s How Much New EV You Can Get for $40k

If you have been considering an EV, you’ll want to see the cheapest new ones you can buy.

So you’ve been wondering if an EV would be a good choice for you. But all of the cool ones seem to cost $100k or more. Well luckily prices have been coming down and there are five EVs you can buy in the U.S. for $40k. They are:

Model Average Sale Price Average Listed Price
Nissan Leaf $27,956 $34,706
Nissan Ariaya $35,556 $51,438
Hyundai Ioniq 6 $36,506 $46,917
Tesla Model 3 $40,547 $43,649
Toyota bZ4X $40,646 $48,087

Why two columns? That “average listed price” is before any automaker discounts, federal tax credits, or local tax breaks. One big difference for the federal EV tax credit in 2024 is that it is applied at the point of sale, so you don’t need to wait until you file your taxes to see the cash.

Nissan is one of the oldest names in EVs. The Nissan Leaf, introduced in 2009, is the longest running model on this list. It looks like Nissan is cashing in on this reputation and some dealerships are marking up Leafs. The average Leaf is currently going for 6% above MSRP, so you’ll want to shop around.

The face of the 2024 Hyundai Ioniq 6
2024 Hyundai Ioniq 6 | Allison Barfield | MotorBiscuit

Experts worry that these EV prices won’t stay so low. But Tesla’s recent stock woes have driven it to slash prices. And other automakers are doing the same to compete. The Model 3 is by far its cheapest model. While it is a little outdated by the quick charging speeds of competitors, the Model 3 still benefits from Tesla’s comprehensive “Supercharger” network.

While Toyota’s bZ4X (and its Subaru Solterra twin, MSRP $44,995) are getting mixed reviews, the Hyundai Ioniq 6 is getting rave reviews. With this first generation of EVs, everything is about the numbers and Hyundai is leading its segment with 800-volt charging speeds. Because you can charge the Ioniq 6 for 20-30 minutes, then drive for several hours, it is one of the only EVs you can roadtrip indefinitely.

Apr 26

Enhancing EV Accessibility: New Charging Stations Transform Apartment Living

Navigating EV Charging Challenges in Urban Living

The transition to owning an all-electric vehicle in an urban apartment setting poses significant challenges due to the scarcity of personal charging stations. Many residents, constrained by the availability of only public charging options, find this lack of accessibility a major hurdle. However, developments are underway as more residential complexes begin to equip themselves with dedicated EV charging stations, easing the reliance on external charging points.

Expansion of EV Charging Facilities in Residential Areas

It is estimated that 20% of American motorists reside in apartment complexes, where the adoption of electric vehicles has been notably slow due to inadequate charging infrastructure. Presently, only a small fraction of these living spaces, under 5%, are equipped with EV chargers, limiting the practicality of owning an electric vehicle. The growing demand for in-house charging solutions is prompting property managers to adopt these technologies to attract and retain environmentally conscious tenants.

Strategic Partnerships to Improve EV Infrastructure

Facing the complexities of installing and maintaining EV charging stations, several real estate companies are now partnering with firms like EnviroSpark, which specializes in the deployment of EV charging solutions across residential properties. These collaborations are proving instrumental in alleviating the cost and operational challenges associated with the adoption of such infrastructure, ensuring tenants have reliable access to charging facilities. This initiative is pivotal in smoothing the transition for residents towards sustainable transportation options, ultimately supporting broader environmental objectives and enhancing tenant convenience.

Enhanced Insights and Outlook on EV Adoption

Home Charging: Central to the EV Experience

Data from the Department of Energy reveals that the majority of electric vehicle owners, approximately 80%, prefer charging their cars at home due to the convenience it offers over public charging stations. The process of charging an electric vehicle at home, although time-consuming, provides a level of ease not attainable with traditional fueling methods. Expanding these home charging capabilities within apartment complexes is critical for the widespread adoption of electric vehicles.

Potential Impact on Electric Vehicle Adoption

The incorporation of comprehensive EV charging infrastructures in multi-unit dwellings marks a crucial advancement for the electric vehicle industry. This enhancement not only makes electric vehicles more appealing but also addresses significant barriers to adoption. As residential complexes continue to integrate these facilities, the landscape of urban electric vehicle ownership is expected to transform, fostering significant growth in the sector and supporting sustainable urban transportation.

Apr 26

Unveiling Washington State’s Affordable EV Leasing Incentives for Lower-Income Families

Launching the Washington EV Affordability Initiative

In an effort to make sustainable transportation options more accessible, Washington State has rolled out a significant incentive program specifically targeting middle- and lower-income families. This August, the Washington State Department of Commerce will initiate an offering of up to $9,000 in instant rebates for those leasing new electric vehicles. This initiative aims to reduce financial barriers, making it feasible for families to lease models like the Toyota bZ4X for as little as $56 a month.

Reducing EV Costs with State-Sponsored Rebates

The typically high costs associated with electric vehicles can deter many potential buyers. Addressing this issue head-on, Washington State’s new initiative will substantially decrease monthly lease payments. The program is comprehensive, extending $5,000 rebates for new EV purchases and $2,500 for used electric cars, broadening the affordability of clean transportation.

Leveraging Tax Incentives for Greater Savings

Tax incentives are vital in promoting the adoption of electric vehicles by significantly reducing ownership costs. Washington residents can augment state rebates with a $7,500 federal tax credit and a state sales tax exemption for zero-emissions vehicles, enhancing the affordability of these green cars. These financial incentives are designed not only to lower upfront and ongoing costs but also to support the state’s environmental objectives by boosting cleaner vehicle usage.

Detailed Insights and Strategic Outcomes

Illustrating Cost-Effective Leasing Opportunities

An example from the program shows profound potential savings: a typical three-year lease costing an initial $10,364 could be lowered to just $2,798 after applying the state’s rebate, translating to an effective monthly cost of about $78. This stark reduction demonstrates the impactful role that state and federal incentives can play in making EVs financially accessible to a wider audience.

Diverse Vehicle Choices Enhancing Consumer Reach

Washington’s incentives are not limited to a single vehicle type but cover a variety of models to suit different needs and preferences. With these rebates, monthly expenses for other models like the Hyundai Kona and Nissan Leaf are expected to drop to $78 and $87, respectively, while even premium models like the Tesla Model Y could become more accessible at around $207 per month. This flexibility ensures that a broader demographic can find an electric vehicle that aligns with their financial and lifestyle requirements.

Criteria for Rebate Eligibility and Future Goals

The rebate program is structured with specific eligibility criteria, aimed at supporting those who need it most—families earning below $93,600 annually, or single-person households earning less than $45,180, can qualify. Governor Jay Inslee has highlighted that these rebates are intended to democratize access to electric vehicles, thus fostering a sustainable transportation ecosystem. Funded through June 2025, the program anticipates distributing between 6,500 and 8,000 rebates, aiming to set a precedent for environmental leadership and community health enhancement through improved air quality.

Apr 26

Toyota confirms plans for second US-built 3-row electric SUV

Toyota on Thursday announced plans to invest $1.4 billion in its plant in Princeton, Indiana, to support production of a three-row electric SUV.

The investment also covers production of battery packs at the site using lithium-ion batteries supplied by a Toyota battery plant under construction in Liberty, North Carolina, and slated to start production in 2025.

The latest investment announcement brings Toyota’s total investments for U.S. production to $18.6 billion since 2021.

Toyota didn’t provide any details on the SUV but a spokesman told Automotive News (subscription required) it will be a Toyota-branded model larger than the three-row electric SUV Toyota plans to build at a plant in Georgetown, Kentucky.

Toyota BZ Large SUV

The SUV planned for Georgetown, which was announced in February and has received its own $1.3 billion investment, will also be a Toyota-branded model. It will be a midsize offering to be called the bZ5X. It’s due to start production in 2026 and is thought to have been previewed by one of the dozen of EV concepts Toyota rolled out in late 2021 (shown above).

Production of the SUV in Princeton is also expected to start in 2026, with sales to start late that year, pointing to an arrival as a 2027 model in the U.S.

The Princeton plant currently builds three gas-powered three-row SUVs: the Highlander, Grand Highlander, and related Lexus TX. It also builds the Sienna minivan. The planned electric SUV is rumored to carry the Grand Highlander nameplate.

Lexus is also planning to launch a three-row electric SUV that may be built at the Georgetown or Princeton plants. The vehicle may be called a TZ, judging by recent trademark activity. Such a name would indicate the SUV is an electric alternative to the TX.

Apr 22

U.S. Non-Tesla EV Sales Slowed Down In Q1 2024, But There Are Some Clear Winners

Ford is the only brand besides Tesla that sold over 20,000 EVs. Kia, BMW and Hyundai exceeded 10,000, while Cadillac’s EV share surged.

With the first quarter of 2024 behind us, it’s time to look at how electric vehicle sales are faring in the U.S. amid what many believe to be a slowdown in the rate of EV adoption. And while it has slowed down in some ways, several brands with strong EV games are doing well anyway—and there are a few surprise winners here too.

According to sales data analyzed by InsideEVs, during Q1 2024, the 19 brands we examined below sold over 102,000 all-electric vehicles. For this group, it’s the third-highest quarterly result ever. However, the year-over-year increase amounted to 18%, which is the slowest result for the group in a few years.

It is also crucial to note that this data looks at non-Tesla EV sales; you can find that company’s latest results here.

BEV sales surged in 2023

In 2023, all-electric car sales increased to about 1.1 million units (estimated). Out of that, no less than 450,000 were sold by traditional carmakers (up 83% compared to 2022). 2024 is predicted to be a potentially slower year as many consumers wait for more charging, cheaper options and new battery technologies to take off.

This group of non-Tesla brands includes traditional carmakers that report their all-electric car sales in the U.S., like Audi, BMW, General Motors’ BrightDrop delivery van division, Cadillac, Chevrolet, Ford, Genesis, GMC, Hyundai, Kia, Lexus, Mazda, Mercedes-Benz, Nissan, Porsche, Subaru, Toyota, Volkswagen and Volvo.

Not all manufacturers report their sales results in the U.S., especially the newer companies like Tesla, Rivian, Polestar, Lucid, Fisker and VinFast. They do not break out sales by country or region so their figures can’t be included in this report. They are also 100% electric already.

new-all-electric-car-sales-in-q1-2024-us-select-19-brands

Several non-Tesla brands are missing from the group. Additionally, assuming that Tesla represents roughly half of all EV sales in the U.S. (probably well over 100,000) we can estimate that the U.S. total EV sales in Q1 were somewhere between 225,000-250,000.

EV Sales By Brands – Q1 2024

In Q1, just like in Q3 2023 and Q4 2023, Ford sold more all-electric vehicles (20,223) than any other non-Tesla brand in the U.S. It was the only result above 20,000 within the group.

Only three other brands exceeded a level of 10,000: Kia (11,412), BMW (10,713) and Hyundai (at least 10,468). In the case of Hyundai, we don’t have the number for the Hyundai Kona Electric, as its sales are lumped in with the gas-powered Kona.

A fifth-position finish for Chevrolet is a disappointment, but we know that the brand’s ramp-up issues with the Ultium platform, followed by software issues, played a role here. The brand no longer produces the popular Chevrolet Bolt EV/Bolt EUV duo, which underpinned most of its EV sales in 2023.

Overall, we can see a strong position for many premium brands, including BMW, Mercedes-Benz and most recently Cadillac.

new-electric-car-sales-in-q1-2024-us

* Excludes Tesla and other brands for which data was not available

** Hyundai sales without the Hyundai Kona Electric model

Now let’s look at the share of EVs out of the automaker’s total sales. This shows how advanced a carmaker is on its electrification journey to become 100% electric someday.

The list of brands includes only traditional ones, for which data is available. Brands that sell only all-electric cars are excluded because their share is always 100 percent.

In Q1, the highest EV share was achieved by Cadillac at 16.4%. It was a bit surprising but a very positive outcome for General Motors’s luxury arm. Cadillac’s EV share noticeably exceeded several German luxury brands (Audi, BMW and Mercedes-Benz) that all had 12+ percent results.

Volkswagen continued to be the number one mainstream brand in terms of EV share (7.5%), followed by Kia (6.4%), Hyundai (at least 5.7%) and Ford (4.2%). Chevrolet noted 2.2%.

all-electric-car-share-in-total-new-sales-in-q1-2024-us-b

* Excludes Tesla and other brands for which data was not available

** Hyundai sales without the Hyundai Kona Electric model

*** Mercedes-Benz (excluding vans)

For reference, the U.S. average EV share for traditional brands might be estimated at over 3% (assuming roughly 7% average EV market share, when including Tesla and other all-electric brands).

Stay tuned for more data on which brand is the most electrified; a separate report for automotive groups is coming next. If you are interested in seeing more detailed sales results for the individual brands, please check our previous reports:

Apr 22

VW and Honda Face Dealer Backlash Over Direct EV Sales Strategy

Introduction to the Direct Sales Controversy

Honda and Volkswagen are facing significant pushback from their dealer networks as they plan to introduce new sub-brands, Afeela and Scout, which will operate outside traditional dealership structures. This shift to a direct-to-consumer sales model, similar to those used by Tesla, Rivian, and Lucid, allows manufacturers to bypass dealerships entirely, a move that is legally permissible in some states. However, this strategy has ignited a heated debate within the automotive industry, with existing dealers fearing the loss of potential sales and customer interactions.

Dealers’ Response and Legal Threats

The resistance from dealers has culminated in a concerted effort to prevent these brands from sidestepping the traditional dealership model. The Automotive Trade Association Executives (ATAE) took a bold step by running a full-page ad in Automotive News, openly threatening legal action against Honda and Volkswagen if they proceed with their plans. This public declaration marks a significant escalation in the conflict, highlighting the dealers’ willingness to use legal avenues to maintain their role in the vehicle sales process.

Implications for Future Sales and Industry Dynamics

The ongoing dispute poses a crucial question about the future of vehicle sales and the viability of the dealership model in an era increasingly dominated by direct sales. Honda’s Afeela and Volkswagen’s Scout are testing the waters of this new approach, which could potentially reshape the automotive sales landscape if they decide to forgo traditional dealerships. As both brands approach their production and sales launch dates, the industry watches closely, aware that the outcome could set a precedent for how new vehicles are sold in the United States. The standoff underscores a transformative period in automotive sales, one that could redefine relationships between manufacturers, dealers, and consumers.

Apr 22

Opel Unveils Revolutionary Grandland: The Future of All-Electric SUVs

Overview of the Opel Grandland

Opel’s newest creation, the Grandland, redefines the standards for electric vehicles with its innovative design and advanced technology. It is constructed on the dedicated STLA Medium platform, which is optimized for battery-electric vehicles, allowing the Grandland to achieve an impressive driving range of approximately 700 kilometers (WLTP1) per charge. This impressive range is facilitated by a newly designed flat battery pack and incorporates cutting-edge, energy-saving technologies including an efficient heat pump system.

Design and Technological Innovations

The Grandland stands as a testament to Opel’s commitment to both sustainability and modern design. It features the state-of-the-art Intelli-Lux Pixel HD lighting system, which includes more than 50,000 individual lighting elements for enhanced visibility and aesthetics. The vehicle’s interior, made from recycled PET materials, and innovative design elements like the illuminated Blitz logo and distinct “OPEL” rear lettering, reflect Opel’s push towards eco-friendly yet stylish automotive solutions.

Interior Features and Practicality

Designed with a focus on maximizing space and utility, the Grandland offers over 35 liters of interior storage, highlighted by the unique semi-transparent Pixel Box. The cabin combines spaciousness with cutting-edge technology, such as the Intelli-HUD head-up display and a large, centrally located touchscreen that provides intuitive control over the vehicle’s functions. Comfort is also paramount, with advanced seating that includes massage features and enhanced legroom, ensuring a luxurious experience for all passengers.

The launch of the Grandland is a pivotal moment for Opel, signaling a robust step forward in their electric vehicle program. This SUV not only competes strongly in the C-SUV segment but also sets a new benchmark in what customers can expect from an all-electric vehicle, blending innovative technological advancements with comprehensive practical features, thus redefining modern electric mobility.

Apr 22

BYD’s Sea Lion 07: A Sophisticated Mid-Size Electric SUV Ready to Challenge Tesla’s Model Y

BYD’s Ambitious Move in the Electric SUV Market

BYD is setting its sights on Tesla’s dominance in the mid-size electric SUV sector with the introduction of the Sea Lion 07. Ahead of its official debut, BYD has provided a preview of the Sea Lion 07’s opulent interior. The initial images reveal a vehicle designed to compete head-to-head with Tesla’s popular Model Y.

BYD-Sea-Lion-07-specsBYD Sea Lion 07, the brand’s first “mid-sized urban smart electric SUV” (Source: BYD)

Introducing the Sea Lion 07: BYD’s Latest Electric SUV

Unveiled at the 2023 Guangzhou International Auto Show, the Sea Lion 07 showcases the innovative design expertise of Wolfgang Egger, previously with Lamborghini and Audi. This latest addition to BYD’s lineup merges luxurious details with modern functionality, positioning it as one of their most elegant electric SUVs to date.

A Closer Look at the Sea Lion 07’s Luxurious Interior

BYD has recently shared a glimpse of the Sea Lion 07’s interior, revealing a design that exudes sophistication. The SUV boasts a stylish, lightweight interior that reflects the beauty of the ocean, featuring high-quality leather upholstery and an advanced Dynaudio audio system. The 15.6-inch Adaptive Floating Screen stands out, offering a high-tech yet familiar interface reminiscent of Tesla’s design but with unique BYD touches.

BYD-Sea-Lion-07-interiorBYD Sea Lion 07 interior (Source: BYD)

BYD-Sea-Lion-07-interiorBYD Sea Lion 07 interior (Source: BYD)

BYD-Sea-Lion-07-interiorBYD Sea Lion 07 interior (Source: BYD)

Power and Pricing Insights

Though details on the Sea Lion 07’s powertrain are not fully confirmed, it is expected to feature BYD’s Blade Batteries and e-platform 3.0, promising a range of power options. Initial pricing is projected between 200,000 to 260,000 yuan ($28,000 to $35,900), positioning it competitively against Tesla’s Model Y, which starts at approximately 249,900 yuan ($34,500) in China. This pricing and the Sea Lion 07’s features suggest a strong challenge to Tesla’s established market position.

Apr 22

The Surge in EV Fast Charging Stations: One for Every 15 Gas Stations

Charging Infrastructure Boom in the U.S.

Despite a slowdown in electric vehicle (EV) sales growth, the expansion of charging infrastructure in the U.S. is accelerating rapidly. Recent data reveals that the country now boasts nearly 8,200 fast-charging stations, providing a notable boost to EV adoption. This increase means there’s approximately one DC fast charging station for every 15 gas stations, marking a significant improvement in accessibility.

How the Charging Landscape is Evolving

Charging deserts are becoming a thing of the past as thousands of new DC fast chargers are activated across the country. The growth is driven by initiatives like the National Electric Vehicle Infrastructure Program (NEVI), supported by $5 billion from the Biden administration. Additionally, major convenience store chains are enhancing their locations with EV chargers, meeting consumer expectations for amenities such as restrooms, Wi-Fi, and refreshments during charging stops.

Electrify America Flagship Indoor Charging Station In San Francisco, California

The Future of EV Charging

The ongoing investment and advancements in charging infrastructure promise to make finding a charger easier and more convenient. Google’s AI-enhanced Maps will help drivers locate chargers more efficiently, while research suggests that public charging revenue could reach $127 billion globally by 2030. This expansion not only addresses the issue of charging deserts but also enhances the overall EV ownership experience.

Apr 22

U.S. EV Registrations Experience First Decline Since 2020: Tesla’s Impact Highlighted

Tesla’s Influence on February’s EV Market Dip

In February 2024, the U.S. electric vehicle (EV) market saw its first drop in new registrations since 2020, largely driven by a significant decrease in Tesla’s figures. Tesla, the leading force in the EV industry, reported a notable 25% decline in new registrations compared to the same month last year. This downturn led to an overall 2.8% reduction in total EV registrations for the U.S., showcasing Tesla’s crucial role in influencing market trends. The last comparable dip occurred in August 2020, when a decline in Tesla’s registrations also affected the overall segment.

Surge in EV Registrations Without Tesla’s Influence

When excluding Tesla’s data, new EV registrations showed a remarkable 32% increase in February compared to the previous year, signaling strong growth in the industry from other manufacturers. Companies such as Ford, Hyundai, Kia, BMW, and Rivian reported impressive gains, with Ford experiencing an 84% rise and BMW seeing a staggering 166% increase in new registrations. This growth highlights a vibrant and expanding EV market driven by innovation from various manufacturers, even amidst Tesla’s temporary setback.

Performance of Major EV Players

Ford’s impressive performance in February included 7,656 new registrations, a significant leap from the previous year. Hyundai and Kia also showed strong growth, with registrations rising by 54% and 58%, respectively. BMW’s registrations more than doubled, reaching 3,559 units, while Rivian saw a 56% increase with 3,251 new registrations. Together, these companies accounted for 22,010 new EV registrations, while Tesla alone reported 36,697. Despite Tesla’s decline, these figures demonstrate the continued expansion and competitive nature of the EV market.

Tesla EVs at V4 Supercharging station. From left: Model 3, Model S, Cybertruck, Model X and Model YTesla EVs at V4 Supercharging station. From left: Model 3, Model S, Cybertruck, Model X and Model Y

Impact of Tesla Models on Market Trends

The February decline was partly attributed to the underperformance of Tesla’s Model 3, which saw a dramatic 73% drop in registrations. This decline was influenced by the loss of eligibility for the $7,500 tax credit and a temporary production halt at Tesla’s Fremont Gigafactory. In contrast, the Model Y, Tesla’s most popular EV, experienced a 6.7% decrease in registrations, while the Model X saw a notable 47% increase. These trends reflect shifting consumer preferences and the impact of regulatory changes on EV sales.

Additional Insights

The fluctuation in EV registrations underscores the dynamic nature of the market, influenced by both consumer preferences and manufacturer performance. As the EV landscape continues to evolve, it remains essential for industry stakeholders to monitor these trends closely and adapt strategies to maintain growth and competitiveness. For those interested in the latest developments in the EV sector, keeping track of registration data and market shifts provides valuable insights into future industry directions.