Overall, EVs don’t come cheap, and the affordability of electric vehicles isn’t expected to make much progress in 2022. Raw material prices could skyrocket EV battery affordability increase in a period of time. Cobalt price especially caught the industry off guard. And there is inflation.
That led to a series of price hikes on popular electric vehicles ranging from Ford F-150 Lightning and Tesla Model Y arrive Rivian R1T—All rallies shock thousands of dollars and far exceed typical year-to-year gains.
Supply versus demand is particularly out of balance for the electric vehicle market and early purchases Electric vehicle buyers will find until a few years ago that “compliance cars” have turned to premiums. insurance agent thousands more.
EVs are expected to continue to receive cheaper than combustion models—Not only in the overall cost of ownership, but also in the upfront selling price.
2023 Nissan Leaf
Meanwhile, if you’re just looking for the lowest priced new EVs on the market, with no driving range top priority, options are surprisingly limited. But there are some very affordable electric vehicles out there, and here we’re highlighting half a dozen models for under $40,000, including destination fees.
Somehow, the cheapest all-electric models on the market are (mostly) an exception to those unacceptable surcharges.
While some of these models are likely to qualify for a refunded $7,500 EV tax credit—in the end—keep in mind that the Treasury Department still needs to issue guidance and you shouldn’t count on claiming require it for purchases made during the remainder of the year.
Here are the five cheapest 2023 latest EV models (or 2022, if the ’23 isn’t out yet), already on the market or coming very soon, based on sticker prices alone. And be aware that most but not all of these models are available everywhere in the US — we’ve shown where that matters.
2023 Volkswagen ID.4
Price (including destination): $38,790
EPA strip: 208 miles
Notable features: Plug and Charge, 12-inch infotainment screen, 45-watt USB-C port good for laptops and tablets
Volkswagen has moved ID.4 production to the US in 2023, with a more affordable price Standard VW ID.4 version joins the lineup — starting below the $40,000 mark for the first time, including destination. While powered by a rear-wheel-drive 201 hp electric motor like the upgraded ID.4 Pro models, the ID.4 Standard has a smaller battery pack (62 kwh vs 82 kwh) which equates to an estimated EPA range of 208 miles, instead of as high as 275 miles with the larger package. However, VW didn’t skimp on features; The Standard version has a parking assist system, a rich active safety package and a large 12-inch touchscreen. The ID.4 is very pleasant to drive and it is more spacious and comfortable than all other models in this group; The glitch interface is one of our least favorite features here, but it’s getting better through over-the-air updates.
2023 Hyundai Kona Electric
Electric Hyundai Kona
Price (including destination): $35,295
EPA strip: 258 miles
Standard technology: Wireless Apple CarPlay and Android Auto
Although the echo of Hyundai deserves Ioniq 5 EV can attract all the attention, smaller, still stylish Electric Hyundai Kona will give more cost-conscious shoppers the all-electric conversion they want — with enough driving range — for many thousands less. After removing the former Ioniq Electric from the lineup in 2022, Hyundai has made the Kona Electric’s price much more attractive, dropping it by about $3,000. According to Hyundai, the 64 kWh battery pack can be charged from 10 to 80% in just 47 minutes – more predictable than the Ioniq 5, we might add – and its real-world potential is close to the range en EPA 258 miles. While 2023 pricing has yet to be announced, the Kona Electric has been given a new look for 2022 along with a price cut, with an improved instrument cluster and upgraded 10.3-inch infotainment. . Hyundai’s infotainment interface is one of the best in this group. However, keep in mind that the Kona Electric is not offered at all dealers and all states — although Hyundai is working on it.
2022 Mini Cooper SE
Mini Cooper SE
Price (including destination): $35,075
EPA strip: 114 miles
Standard technology: Heated steering wheel, satellite radio, panoramic sunroof
The Mini Cooper SE 2023 doesn’t really have the range to be a single vehicle, with a 114-mile rating, but this layout, helps keep the battery — and curb weight — on the light side compared to other EVs. – Cart like fast speed perfect for city driving. Given its quirky branding, we think the small two-door Cooper SE is a good fit for commuters who already have a larger sedan or SUV in the barn. Just keep in mind that this model is hard to come by. Due to supply chain issues, Mini has indefinitely leave the base model leading the value, starting at $30,750. That makes the next Signature 2.0 version, with its full roof and exterior upgrades, costing $35,075 less. There is no news that actual trading of the squad will return.
2022 Mazda MX-30
Price (including destination): $34,645
EPA strip: 100 miles
Notable features: Gas model for weekend trips, with loan program
Mazda’s products over the decades have been markedly different in design and engineering, and 2022 MX-30 EV Is no exception. The company’s first EV for the United States had a small 35.5 kWh battery pack and only a 100-mile range — and it was only in California at first. But Mazda has shown that it understands how great a front-wheel drive EV is for commuters; along with it is the MX-30 Elite Accessibility Loan Program, in which owners have 10 days to use other Mazda models per year, for three years. The rear-hinged tailgate promises more practicality than a coupe but instead it delivers what it’s worth given the rather odd, cramped interior packaging. And in case this isn’t wacky enough for you, an extended range version is also in the works.
2023 Nissan Leaf
Price (including destination): 28,895 USD
EPA strip: 149 miles
Standard technology: DC fast charging, 240V . charging cable
Nissan has adopted a discount for Leaves in 2022 that helped make room for the much-anticipated Ariya converter, and 2023 Leaf price had only raised a few hundred dollars. The founding member of this modern EV family has kept it basic, with a single-engine, front-wheel drive layout and 40 kWh battery pack that lasts 149 miles, and the rear seats are spacious and comfortable. still a strong point compared to other lowest priced EVs. Leaf Plus, for $36,895, upgrades to a 62 kWh plan with up to 212 miles of range and faster charging—if you happen to find a CHAdeMO format charger that can operate over 50 kW. All new Leafs include DC fast charging, which was omitted on base models until a few years ago,
2023 Chevrolet Bolt EV
Chevrolet Bolt EV
Price (including destination): $26,595
EPA strip: 259 miles
Standard technology: 240V portable charging cord, wireless Android Auto and Apple CarPlay
The majority of electric vehicles have seen significant price increases by 2023, but that is not the case with the Bolt EV family, which includes the Bolt EUV with a longer wheelbase. GM has slashed the price of Bolt models for 2022 by about $5,000 across the entire lineup, and includes improvements that include a refreshed look, better seats, and materials. afterward Price 2023 Chevy Bolt EV and EUV was lowered again, to $5,900 and $6,300 respectively, as a result of a recall campaign that resulted in the replacement of battery packs for many of the previous Bolts. GM goes even further when it comes to adoption retroactive discount for some buyers of previous Bolt EV models who bought new in 2022 — all with the aim of establishing a price move for the upcoming version $30,000 Chevrolet Equinox EV and $45,000 Blazer EV model will be due in a few months. Compared to the Bolt EV, the EUV starts at $1,600 higher and drops 12 miles of EPA range, but many shoppers will consider that a worthwhile trade-off for more rear-seat space. Also of note: The Bolt EV now includes an 11.5 kW built-in charger, which means you can get the most out of any Level 2 charging points you find along the way.