Latest news with #ZEV
The Drive
4 days ago
- Automotive
- The Drive
$16,500 Off Honda Prologue Makes It Even Cheaper to Lease Than HR-V
The latest car news, reviews, and features. A CarsDirect report calling out over $16,000 in discounts on the 2025 Honda Prologue EV caught our eye this morning. Under the right conditions, a Prologue can now be leased for even less money than an HR-V. Looks like you really can grab a great price on one of these; let's run through the details to see how realistic these deals are. The biggest deal-stack combo you can theoretically create on this vehicle would add up to $16,500 off, combining: A $7,500 federal EV tax credit Another $2,500 credit if you're in a ZEV-incentive state (we'll list those in a second) A $1,000 conquest or loyalty bonus (if you've got an '09 or newer Honda or are switching out of certain rival vehicles, which we'll also circle back to) A $3,500 bonus from Honda (nationwide) And finally, another $2,000 discount that Honda reportedly just authorized its dealers to make to move these units If you're buying, and have great credit and a big down payment, 2025 Honda Prologues are financing at 0.99% APR through Honda. The automaker's consumer site lists an example deal of a 10% down payment, with 60 months financing, at $17.09 per month per $1,000 financed. As of this writing, if you can find a 2024 model that's still on the lot, you can get 0% APR with a big enough down payment. The 2024 model looks the same, but the new 2025 Prologue claims slightly improved specs: 'For 2025, Prologue's top-class EPA range rating increases by 12 miles on a single charge to 308 miles, and the output ratings of single-motor two-wheel drive models increase to 220 horsepower (+8) and 243 lb.-ft. of torque (+7). Similarly, the EPA range ratings of Prologues equipped with AWD increase to 294 miles for the EX and Touring (+13), and 283 miles for the Elite (+10). Power and torque ratings in AWD models rise to 300 horsepower (+12) and 355 lb.-ft. of torque (+25),' Honda announced this year. To me, the lease deals seem more attractive. You can drive a 2025 Prologue EX for $259 per month for 36 months after $3,999 due at signing with a decent 10,000-mile yearly allowance. CarsDirect notes that the compact Honda HR-V SUV can only be had for $289 at best, with $3,299 due at signing. It's worth noting that leased EVs are still eligible for the $7,500 credit, but it goes to the finance company itself. In most cases, the savings are passed on to the customer through a reduction in monthly payments. Still, that lease deal is dependent on getting out of a new-ish Honda or rival vehicle. Honda's official list of what qualifies for a loyalty or conquest bonus or deal is a 2009 or newer Honda, Buick, Chevrolet, Chrysler, Dodge, Fiat, Fisker, Ford, GMC, Hyundai, Jeep, Kia, Mazda, Mini, Mitsubishi, Nissan, Polestar, RAM, Rivian, Scion, Subaru, Tesla, Toyota, VinFast, or Volkswagen. As for the geographic limitations on Honda's best bargains, the company is only offering its advertised Prologue deals in 19 states and Washington, DC. Specifically, that's California, Colorado, Connecticut, Delaware, Florida, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Virginia, Vermont, Washington, and West Virginia. The ZEV states mentioned earlier, with their own EV rebates, are simply states that have adopted California's Clean Air Act standards. Right now, that's Colorado, Connecticut, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, and Washington. The nation's capital, Washington, DC, is also on that list, as well as, of course, CA itself. New-car buying or leasing math is annoyingly opaque, and ultimately, your own out-the-door price is going to depend on many factors, including what kind of mood the salesperson you encounter is in when you meet them. And don't forget that car MSRPs never list tax, title, and registration costs, or baloney like documentation fees and nitrogen tire-filling fees dealers are often inclined to stick you with. However, if you live in one of the states mentioned, you should have a lot of leverage at a Honda store to get a deal on a Prologue right now. And if you're aggressively price-shopping, don't forget to take your best Prologue deal to a Chevy place to compare it to the price of a Blazer EV, which shares the same platform and should provide a very similar ownership experience. Got any EV leasing tips? Drop us a line at tips@
Daily Mail
5 days ago
- Automotive
- Daily Mail
Report: Electric cars lose more than half their value in two years
Electric cars are losing more than half their value within two years, according to a new report. Analysis by Cox Automotive has suggested that a 24-month-old battery car sold to the trade in April on average retained just 47 per cent of its original new cost. However, two years earlier, an EV of the same age profile was - on average - holding on to 83 per cent of its new price. The dramatic acceleration in depreciation is being blamed on manufacturers who are caught in an unprecedented catch 22 scenario currently playing out in the automotive sector. With car makers being forced to increase their sales of EVs to meet Government-mandated targets, they are offering huge discounts on new models to make them more attractive to new customers in order to meet their quotas. But this is having a significant knock-on impact for residual prices, as drivers are seeing more value for money buying new rather than opting for a nearly-new second-hand EV, which has seen used prices tumble. The Zero Emission Vehicle (ZEV) mandate introduced to law last January requires mainstream car manufacturers to sell an increasing share of EVs every year between now and 2035. Failure to adhere to these quotas can result in significant fines of £12,000 for every car sold below the required threshold for that year. In 2024, the minimum quota was for 22 per cent of all deliveries by manufacturers to be zero-emission electric cars. However, the target jumps to 28 per cent this year, 33 per cent in 2026 and 80 per cent by 2030. Officials reported that every mainstream brand achieved last year's 22 per cent EV sales mix - though at a huge cost to car companies. The Society of Motor Manufacturers and Traders (SMMT) reported that makers lost a collective £4billion in discounted prices as they tried to make electric cars appear more attractive to petrol and diesel counterparts. Mike Hawes, chief exec at the trade body, described the scale of these discounts as 'unsustainable'. Labour's decision to force EV owners to pay car tax for the first time from April has also dampened demand for new models - and triggered further manufacturer discounts. Both Vauxhall and Abarth - the performance division of Fiat - have recently reduced prices of their electric cars so that they sit below a £40,000 expensive car tax supplement being imposed on new EVs starting from next year. But Cox Automotive Europe discounts are now having a huge knock-on effect on the second-hand market, because 'nearly new' used EVs are falling in value as a direct result. Second-hand electric vehicle prices are also taking a hit from the huge acceleration in available models coming to market, with March seeing a record 69,313 new electric cars entering the road. A rapid development of battery technology is also stinging the value of quickly outdated older EVs, while the emergence of new cheaper brands - predominantly from China - is also pushing second-hand values lower. As such, a two-year-old electric car today is now holding just 53 per cent of its original price. In contrast, the average diesel car selling to trade with the same age profile is retaining 30 per cent of its new value. When second-hand EV values were at their peak in 2022 - as a result of supply constraints around the Covid-19 pandemic - a two-year-old electric car was losing only 17 per cent of its showroom price. Philip Nothard, insight director at Cox Automotive Europe, said: 'The current performance of nearly-new EVs in the used market is still much lower than we would anticipate for vehicles in this age profile. 'The heavy discounts offered on new vehicles mean that consumers can pick up a brand-new model for the same price as a nearly-new model. 'This gives consumers very little incentive to consider them, which is a real blow to a market that needs all the incentives it can get its hands on.' On the flipside, EVs between three to five years old are performing much better. At auction, these vehicles have seen only a modest price drop of 15 per cent on average in the same time period as they aren't impacted as severely by heavy manufacturer discounts and tend to attract a different driver. Last month, Prime Minister Sir Keir Starmer was forced to water down Britain's electric vehicle sales targets in response to Donald Trump's watershed tariff announcement. The PM's new measures included additional leniencies in the ZEV mandate in a bid to 'support car makers'. And only last week, a leaked letter from transport minister Lilian Greenwood revealed that the Government is considering dumping the expensive car supplement - widely being referred to as the 'Tesla Tax' - for new electric cars in an effort to stir up more demand for green vehicles.
Yahoo
7 days ago
- Automotive
- Yahoo
Declining EV interest, pricing concerns may limit near-term growth for Rivian: UBS
-- UBS analysts cautioned that Rivian Automotive (NASDAQ:RIVN) may face headwinds in the near term, citing findings from their 2025 UBS Evidence Lab Global EV survey. According to UBS, 'declining EV interest and affordability concerns may limit near-term growth' for the electric vehicle maker. While Rivian's brand awareness in the U.S. has improved slightly, from 10% in 2024 to 13% this year, consumer consideration is said to remain low. 'Only ~5% of BEV owners/buyers indicated they would consider purchasing a RIVN (up from 4.5% last year),' UBS said. For comparison, UBS estimates Rivian's estimated 2024 U.S. BEV market share, excluding vans, was around 3%. The survey also found that while many consumers still seek more EV alternatives, interest in EVs overall has declined. 'Given potential pushout of EPA requirements and repeal of the California waiver, the EV inflection may be further out than expected,' UBS warned, noting that removing the California waiver could also impact Rivian's ability to generate and sell Zero Emission Vehicle (ZEV) credits. Affordability also remains a key barrier, according to the bank. 'Only ~35% of respondents believed EVs are affordable vs. ICE vehicles,' UBS noted. Rivian's current models—the R1S SUV and R1T pickup—start at $75,900 and $69,900, respectively, well above the $47,900 average price for a U.S. vehicle. UBS also flagged risk around the possible elimination of consumer clean vehicle tax credits, which they estimate supported around 59% of Rivian's 2024 vehicle leases. 'Near-term, especially if U.S. policies move away from an EV world, continued cost out of the R1 and increased manufacturing efficiencies are key,' UBS said. UBS maintains a Neutral rating on Rivian, seeing longer-term potential but a tougher near-term landscape. Related articles Declining EV interest, pricing concerns may limit near-term growth for Rivian: UBS Southwest Airlines raised at Jefferies after management meetings Qualcomm-backed study finds Apple's in-house modem falls short in 5G tests Sign in to access your portfolio
Scottish Sun
23-05-2025
- Automotive
- Scottish Sun
Major car brand discontinues its first and ONLY electric car that was hamstrung by short range & poor practicality
However, they plan to make another attempt at an EV next year END OF THE ROAD Major car brand discontinues its first and ONLY electric car that was hamstrung by short range & poor practicality MAZDA is pulling the plug on its first and only electric car, criticised during its four-year run for its limited range and cramped cabin. The MX-30, which made its world debut back in 2019 at the Tokyo Motor Show, is a subcompact crossover SUV offered as an EV and as a plug-in hybrid. 4 Mazda's first EV, the MX-30, is being discontinued after four years of mixed reviews Credit: SUPPLIED 4 The MX-30's 124-mile range, due to its small 35.5kWh battery, was a key factor in its struggles against rivals Credit: Supplied 4 New EVs like the Jeep Avenger and MINI Aceman now dominate the subcompact electric SUV market Credit: SUPPLIED 4 Its awkward, coach-style rear doors were also criticised Credit: Supplied But now, it's electric variant has quietly reached the end of its production lifespan. Launched in the UK in 2021, the MX-30 was positioned against the likes of the Kia Soul EV and Peugeot e-2008. However, it struggled to gain traction, primarily due to its short range and limited practicality. One of the most significant criticisms of the MX-30 - aside from its bizarre, coach-style doors - was its modest range of just 124 miles, thanks to its 35.5kWh battery. The smaller battery size, chosen to reduce the car's weight, improved its handling and lowered its CO2 emissions during production, but also resulted in persistent range anxiety among drivers. Indeed, today, rivals like the Jeep Avenger, Renault 4, and MINI Aceman offer ranges of around 250 miles - further highlighting the MX-30's shortcomings. WHAT'S NEXT? While the fully electric MX-30 has been axed, the plug-in hybrid version remains on sale in the UK. This variant, equipped with a fully charged battery and a full tank of petrol, can cover more than 400 miles, according to Mazda. What's more, the brand is set to give electric cars another stab next year with the 6e saloon, which is poised to be in the same segment as the top-selling Tesla Model 3. A fully electric SUV is also in the pipeline, but the decision to temporarily pluck its only pure electric vehicle in its lineup is bold - particularly in light of the UK Government's ZEV mandate. EZ-6 Under the current mandate, at least 28% of manufacturers' new car sales must be zero-emissions vehicles by 2025, prompting many brands to prioritise EV production. As reported by Auto Express, a Mazda spokesperson said: 'Mazda will meet the requirements of the ZEV/VETS legislation through the various flexibilities within the scheme and the introduction of further BEVs.' This comes as Sun Motors supremo Rob Gill recently got to road-test the new Mazda 3, featuring a gutsy 2.5-litre naturally aspirated petrol engine.
TechCrunch
22-05-2025
- Automotive
- TechCrunch
Senate votes to revoke California's ability to set air pollution standards
Senate Republicans have voted 51 to 44 to overturn a waiver that allowed California to set stricter air pollution standards for vehicles. The state has received waivers more than 100 times since federal laws granted the right some 50 years ago. Sixteen other states and the District of Columbia follow California's emissions standards, and most of them have implemented fossil fuel vehicle phase outs. Other Senate votes today repealed waivers for that allowed California to set stricter emissions standards for medium- and heavy-duty vehicles. California's so-called EV mandate is actually a zero-emissions standard. Beginning in 2026, the state was to begin requiring increasing sales of zero-emissions cars and passenger trucks until 2035, when automakers would have to sell only zero-emissions vehicles. Currently, two technologies qualify: hydrogen fuel cells and battery electric vehicles. Given the growing pains that fuel cells and hydrogen filling networks have been experiencing, EVs quickly became the de facto approach to meeting California's 2035 deadline. Last year, 25.3% of new light-duty vehicles in California qualified as zero emissions, and nearly all of them were EVs. The state's mandate required 35% of new sales to be ZEV in 2026, something automakers have said would be 'impossible.' ZEV sales growth in California was flat in 2024, though previous years were different, with share rising from 7.8% in 2020 to 25% in 2023. The vote on Thursday bucked precedence by going against the advice of the Senate parliamentarian and the Government Accountability Office, which both had ruled that the waiver could not be revoked under the Congressional Review Act. The CRA allows a simple majority vote on a resolution to overturn a regulation, allowing a Senate vote to proceed without threat of filibuster. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Previously, California's attorney general Rob Bonta was 'prepared for' Republican efforts to repeal the emissions waiver via the CRA. 'We don't think it's an appropriate use of the Congressional Review Act, and we're prepared to defend ourselves if it's wrongfully weaponized,' he told Politico in early March.
