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Are Electric Vehicle Prices About to Drop?

All About the Benjamins

While your neighbor may be spending his Christmas money on a new green car, you may want to wait until a few months after the new year to make the splurge. The temptation will be strong, but if predictions come true… the payoff will be worth it.

When it comes to the idea of electric cars becoming more than a trend in America, some say only time will tell. But battery technologies are improving, driving range is increasing and according to the L.A. Times, electric car hopefuls shouldn’t be surprised if prices begin to decline over the next several months, as well.

Spark the Fire

In November at the Los Angeles Auto Show, Chevrolet introduced its Spark EV, which will sell for less than $25,000 after a federal tax rebate for those who qualify. And, of course, there is the promise of using your Leaf to power your home. More details are said to be revealed at the North America International Auto Show in Detroit in mid-January.

What to Factor In

So if driving electric is in your near future, here are some other points to consider where money is concerned:

Little to no maintenance means you’ll be spending zero dollars and no time at the auto shop worrying about damaged spark plugs, clogged air filters and regular oil changes. Because of the regenerative braking technique EVs use, brakes last longer and can withstand daily use without the normal wear and tear. The reason why, as seen on Dsc.discovery.com, is because instead of applying mechanical friction to slow the car down each time you tap the brakes, the car reverses the electric motor to slowly bring the speed down. Smart power systems can also let them sell power back to the grid when demand is at its highest.

If the economic benefits continue to stack up on the side of the consumer, plug-in vehicle adoption might hit that crucial inflection point sometime soon.

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One comment

  1. I had not heard this but inclines come in a lot of frolavs from mild to steep are you saying that the ICE powerplant on the Volt, by itself, cannot push the car faster than 40mph?How about the LEAF? Does it have the same or similar problem?This might sound good for the Prius but keep in mind that the public see’s these as related vehicles and if one of them is perceived to have a problem people will wonder if all of them have a similar/common problem.The Prius is a cult car that appeals to a specific kind of person that (I feel) is not representative of the average American car buyer.I’d bet that most people who buy a Prius probably are only interested in the Prius and not much else.. in the way of a conventional car.I still think the Prius has a very complex powerplant that if you try to replicate that power plant for another model like a Rav4 I’d not be surprised to see the Hybrid Rav4 have an additional 5K on it’s MSRP.We paid 24K for a Rav4. We decided against the Highlander because it was 5K more and the Hybrid version was an additional 5K over that.Given the current economic conditions in the country I wonder how many folks can really afford a whole lot for a new car anyhow.

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