Which are the cheapest electric vehicles on the market?
STATEN ISLAND, N.Y. — With high gas prices driving more and more motorists toward electric vehicles, demand has skyrocketed for the eco-friendly alternatives, making it difficult for some prospective buyers to find one at an affordable price.
With that in mind, Cars.com has compiled a list of the cheapest model year 2022 electric vehicles, or EVs, on the market, offering buyers a useful tool to help switch to an electric vehicle without spending their life’s savings.
“You might be just looking for an efficient second car for city use or commuting in high occupancy vehicle lanes, where it makes little sense to pay top dollar for 400 miles of range when a 200-mile EV would serve your needs. Or you might have figured out (accurately) that by the time your new EV’s lease or loan is finished, a wider selection of EVs with much improved technology will be available,” said Fred Meier and Brian Normile of Cars.com.
“Whatever your reasons, there are EVs available now that won’t break the bank, though they’re generally still more expensive than comparable gasoline vehicles,” they continued.
A recent survey from AAA found that recent high gas prices are fueling an uptick in interest in electric vehicles, with 25{64d42ef84185fe650eef13e078a399812999bbd8b8ee84343ab535e62a252847} of respondents saying that they would likely buy a fully electric car for their next vehicle purchase.
High gas prices are the driving force in most consumers wanting to go electric, with 77{64d42ef84185fe650eef13e078a399812999bbd8b8ee84343ab535e62a252847} of those intending to switch citing saving on fuel as the primary reason for their decision.
“The increase in gas prices over the last six months has pushed consumers to consider going electric, especially for younger generations,” said Greg Brannon, AAA’s director of Automotive Engineering and Industry Relations. “They are looking for ways to save, and automakers continue to incorporate cool styling and the latest cutting-edge technology into electric vehicles, which appeal to this group.”
Here’s a look at the cheapest new electric vehicles on the market.
- Starting price: $26,595
- EPA-estimated range: 247-259 miles
2) Nissan Leaf
- Starting price: $28,895
- EPA-estimated range: 149-212 miles
- Starting price: $30,750
- EPA-estimated range: 114 miles
4) Mazda MX-30
- Starting price: $34,695
- EPA-estimated range: 100 miles
- Starting price: $35,245
- EPA-estimated range: 258 miles
6) Kia Niro EV
- Starting price: $41,205
- EPA-estimated range: 239 miles
- Starting price: $41,669
- EPA-estimated range: 230-320 miles
- Starting price: $41,955
- EPA-estimated range: 245-275 miles
9) Kia EV6
- Starting price: $42,115
- EPA-estimated range: 232-310 miles
10) Hyundai Ioniq 5
- Starting price: $44,895
- EPA-estimated range: 220-303 miles
SWITCH AND SAVE
The uptick in electric vehicle interest comes at a time when both the state and federal governments are offering financial incentives for drivers to make the switch to electric vehicles.
Through the Drive Clean Rebate program, which is administered by the N.Y. State Energy Research and Development Authority (NYSERDA), consumers purchasing or leasing an electric vehicle can receive a point-of-sale rebate ranging from $500 to $2,000. Rebates will be on the higher end for longer range, all-electric vehicles.
The rebate is available for more than 60 models of vehicles and offered by car dealers in all 62 counties of New York.
Consumers can also benefit from a federal income tax credit of up to $7,500 for the purchase of a new all-electric or plug-in hybrid vehicle.
Like the Drive Clean Rebate program, the federal income tax credit amount will vary based on the vehicle’s battery capacity.
