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Los Angeles Times
7 days ago
- Automotive
- Los Angeles Times
Here are the EVs you can buy for less than $35,000
As steep tariffs threaten to drive up car prices and an incentive for buying electric vehicles nears its expiration date, electric vehicles and plug-in hybrids are becoming harder to afford. For those looking to make the switch to electric on a budget, there are just a few low-cost options. Here's a look at those available for under $35,000. The 2025 Nissan Leaf starts at $28,140, according to the company website. The four-door compact sport-utility vehicle has a range of 212 miles and tops the list of the most affordable all-electric cars available in the U.S. The Leaf, which originally hit roads in 2010, was the first mass-market electric vehicle, according to Nissan. It helped spur global interest in EVs and was the top-selling plug-in electric car until 2020, when it was surpassed by the Tesla Model 3. According to the auto industry site Edmunds, a major disadvantage of the Leaf is its charging port, which is not compatible with many public chargers. Known as a CHAdeMO, the technology was once more common but is being phased out. Edmunds also criticizes the Leaf for its small storage capacity and limited range, but lists comfort and a quiet ride as part of the car's appeal. Nissan also sells the Ariya, an electric crossover SUV with a range of 289 miles and a starting price around $39,000. The 2025 Kona Electric has a manufacturer's suggested retail price of $32,975. The SUV has a range of 261 miles and can charge from 10% to 80% in as little as 43 minutes with a direct current fast charger. That's slower than some of its rivals, according to Edmunds, which also cites the Kona for 'lackluster' handling. The vehicle is easy to drive and park, however, and is a good value for its price, the site's reviewer said. Hyundai has been working on all-electric vehicles since 1991, when the automaker developed the Sonata Electric Vehicle for testing. Its first commercially available EV was the Hyundai BlueOn, in 2010. The 2025 Equinox EV starts at $33,600, according to Chevrolet's website. It has a 319-mile range and touts itself as 'America's most affordable 315+ mile range EV.' The Chevrolet Blazer, another EV option from the American manufacturer, is one of this year's top-selling EVs. At Camino Real Chevrolet in Monterey Park, electric vehicles make up about 20% of sales, according to dealership President Robb Hernandez. Edmunds rated the Equinox EV a 7.5 out of 10 for performance, 8.5 out of 10 for comfort and a 10 out of 10 for range and efficiency. The car has more than 15 safety and driver assistance features. The 2025 Prius Plug-in Hybrid is priced at $33,375 and has 44 miles of battery power. After that, the car switches to gasoline. The Prius Plug-in Hybrid is a particularly good value for drivers who don't go more than 40 miles in one day and can charge frequently, said analyst Karl Brauer. Drivers without a home charger would have to navigate the public network, which can have long wait times. Imperfect charging infrastructure is a deterrent for some considering the switch to electric, Brauer said. Toyota has revamped its Prius model, which once had a bad reputation for its appearance and low power. The Prius Plug-in has 220 horsepower and can accelerate from zero to 60 mph in less than 7 seconds. Edmunds rated the Prius Plug-in Hybrid an 8.5 out of 10 for performance, 7.5 out of 10 for comfort and a 9.5 out of 10 for fuel economy. The 2025 Niro Plug-in Hybrid has an all-electric range of 33 miles and a starting price of $34,490. It is one of Kia's three plug-in hybrid options, which also include the Sportage and the Sorento. According to Edmunds, the Niro Plug-in Hybrid has impressive fuel economy and stylish interior design, but lacks all-wheel drive. Edmunds rated the model an 8 out of 10 for performance, an 8.5 out of 10 for comfort and a 8.5 out of 10 for technology. Kia debuted its first EV for the commercial market in 2015 with the release of the electric Kia Soul. The price of an EV is a significant barrier to a more complete transition to electric vehicles in the U.S., experts said. The average price of a new electric vehicle in the U.S. is $56,910, according to the latest data from Kelley Blue Book, while the average price of a gas-powered car was $49,740 in late 2024. Dealerships are still waiting to see the full effects of new auto tariffs, which are expected to jack up the price of imported parts. Kelley Blue Book predicted overall vehicle prices could increase as much as $6,000 as a result of the tariffs. The higher price tag on EVs stems from expensive batteries and manufacturing. It can be pricier to insure an EV too — data collected by Insurify shows that EVs cost more than $4,000 to insure per year, 49% more than gas-powered cars. For first time EV owners, it can also cost up to $2,000 to install a home charger. Still, depending on where you live and the type of driving you do, it can be cheaper in the long run to own an EV. The cost of electricity is generally less than filling up at the pump, experts said. Vehicles that burn gasoline or diesel are a major contributor to human-caused climate change, experts said, and transitioning away from fossil fuels is key to a healthy climate. Drivers hoping to reduce their reliance on gas also have the option of a plug-in hybrid, which runs on both gas and electricity. Chinese automaker BYD sells ultra low-priced fully electric models, but they are not available in the U.S. The BYD Seagull starts at less than the equivalent of $8,000. 'There's this perpetual challenge for automakers trying to price EVs competitively, at a compelling price point that average people would go and buy them,' said Brauer, the analyst. If automakers are smart, he said, 'they will keep it under $30,000, because with the loss of the incentive, there's a real psychological benefit to be able to say you're under $30,000.' Ford's answer to cheap Chinese EVs is a $30,000 electric pickup truck the company hopes to launch in 2027. The automaker this week said it will invest nearly $5 billion to build the truck and develop a smaller, lighter battery. Slate Auto, a relatively new American automaker backed by Jeff Bezos, says it's building a basic EV with a starting price between $20,000 and $30,000 before customization. The company originally advertised the vehicle at less than $20,000, but had to backtrack after President Trump eliminated a $7,500 tax credit for new electric vehicles. The incentive expires Sept. 30, and Slate says the vehicles will be available in late 2026. Tesla analyst Dan Ives said he expects several less expensive EV models to drop in the next six months, including Tesla's stripped down Model Y. Tesla has not confirmed the release date or price for the new Model Y. The most affordable EVs already on the market usually don't go as far on a charge as higher-priced ones, Ives said. 'They're still worth buying,' he said. 'They're a very good value.'
Globe and Mail
16-04-2025
- Automotive
- Globe and Mail
Tesla Stock (TSLA) Falls as California Sales Continue to Drop
EV maker Tesla (TSLA) saw its car registrations in California drop by 15.1% year-over-year in Q1, which was the sixth straight quarter of declines, according to Experian Automotive. This drop happened even as total new car registrations in the state went up by 8.3%. The California New Car Dealers Association (CNCDA) said that Californians are increasingly turning away from Tesla and pointed to Elon Musk's controversial public image as a possible reason. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Because of the decline, Tesla's share of the Zero Emission Vehicle (ZEV) market in California fell to 43.9% at the end of Q1, down 11.6% and now below half of all ZEV sales. This has hurt overall ZEV market momentum as ZEVs now make up just 20.8% of total car sales compared to 22% a year earlier. CNCDA Chairman Robb Hernandez said that car dealers are focused on selling what customers want, and the decline in Tesla sales shows that mandates alone won't boost EV sales if buyers are not interested. Furthermore, for all of 2025, California's total car registrations are expected to dip by 2.3% to 1.71 million. Interestingly, among all car brands, Toyota (TM) led the market with a 16.5% share, while Honda (HMC) followed with 10.8%, and Tesla came in third with 9.1%. Despite its third-place position overall, Tesla's falling numbers point to a shift in buyer preferences that make meeting the state's EV goals more difficult. Is Tesla a Buy, Sell, or Hold? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 11 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $305.93 per share implies 24.6% upside potential. See more TSLA analyst ratings
