Unbelievable! These Long-Range EVs Are Now CHEAPER Than Gas Guzzlers
In a once-unimaginable turn of events, owning a long-range electric vehicle (EV) with a 300-mile range is now more affordable than the average gas car. Innovative giants, including Hyundai, Kia, and Tesla, are leading the charge, reshaping the automotive landscape and challenging preconceived notions about EV costs.
Thanks to a series of aggressive price cuts, initiated primarily by Tesla, the cost of new EVs in the United States has dramatically decreased over the past few years. Recent data from Kelley Blue Book indicates a 9% decline in average transaction prices for EVs within the first quarter, compared to the same period last year. More strikingly, new long-range EV models are now cheaper than some of the most popular gasoline-powered vehicles.
Hyundai Leads with the IONIQ 6
Among the noteworthy entries, Hyundai stands out with its 2024 IONIQ 6. This trailblazing EV starts at $37,500 for the standard-range model. Moving up, the SE model, offering an impressive 361 miles on a full charge, starts at $42,500. According to a report from Boston Consulting Group, the IONIQ 6 is unique in meeting buyers' expectations for price, range, and charging efficiency—perfectly aligned with the median target market. Priced at just $243 a month for leasing, it's significantly cheaper than competitors like the Toyota Camry, which leases for $346 monthly.
Tesla Model 3: A Competitive Contender
Not to be outdone, Tesla's Model 3 also hits impressive marks in affordability and performance. The 2024 Model 3 starts at $38,990, with the Long Range AWD version priced at $47,740, boasting up to 341 miles of range. At $399 per month for leasing, the Model 3 is considerably cheaper than the BMW 3 Series, which costs a steep $581 per month. Even the Model Y, another gem from Tesla, offers a more affordable leasing rate at $399 per month compared to the BMW X3’s $629.
Kona EV and Emerging Alternatives
Hyundai's surge doesn't end with the IONIQ 6. Their newly upgraded 2024 Kona EV also stands out, starting at just under $33,000, making it one of the most affordable EVs on the market. Lease prices for the Kona EV are also significantly lower than those for its gas-powered counterpart. Consequently, Hyundai’s array of affordable yet high-performance EVs is setting new industry standards. Another worthy mention is GM's Chevy Equinox EV, which entered the market with authority. Lauded as the “most affordable EV” in its class by GM, the Equinox 2LT starts at $43,295 and offers more than 300 miles of range. Moreover, the entry-level 1LT, priced at $34,995, will be available later this year. With a federal tax credit of $7,500, prospective buyers could see the Equinox ships at just $27,495.
The Bottom Line
The EV market is evolving rapidly, with an ever-widening gap between electric and petrol-powered vehicle costs. Automakers are consistently lowering EV prices, making them more accessible to the average consumer. With the ongoing transition, now might be the perfect time to make the switch from gas to electric. For those wanting to take the plunge, there are excellent deals to be had on models like the Tesla Model 3, Hyundai IONIQ 6, and Chevy Equinox EV.
Don't miss out on this revolution. Explore your options, take a test drive, and experience the future of driving that’s not just environmentally conscious but also increasingly economical.
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