New cars have gotten pretty expensive, and it feels like electric cars are especially pricey. The average sale price of a new car has dropped a couple of thousand dollars since it peaked in early 2023, but at more than $47,400 in April, sticker shock is understandable, particularly as interest rates have doubled over the course of the past two years. Based on reader feedback, that impression is particularly pronounced when it comes to new electric vehicles. But EV prices have actually been falling, and inventory is growing. So we put together a list of all the new EVs on sale today for less than the average transaction price of a new car. You can buy 17 different EVs for less than the average price of a new car, and 11 are available for less than $40,000.
Nissan Leaf
First on the list is the Nissan Leaf, which starts at just $28,140 for the version with a 40 kWh battery pack. Nissan was an early EV pioneer, and the current Leaf is the second generation to wear the name. But it hasn't always been on the cutting edge, and some of the Leaf's specs that felt a little outdated in 2017 may feel more so in 2024. The Leaf is eligible for a $3,750 IRS clean vehicle tax credit.
Mini SE
With new tariffs on Chinese-made EVs, no one is entirely sure when the next electric Mini Cooper will go on sale in the US. But right now, you can buy the current Mini Cooper SE for a starting price of $30,900. Although the suspension can feel stiffer than a supercar's, if you live in a city and don't need mega-miles of range, the Mini fits the bill quite effectively and is much more of a hoot to drive (and much cheaper) than the John Cooper Works GP mini.
Fiat 500e
The $32,500 electric Fiat 500e is one of the newest cars on our list; we only drove it for the first time in early April. It has more range than a Mini, and it charges faster, too.
The actual price will be higher if the dealership sees an opportunity to soak the customer and if it is one of those kinds of dealerships. You can watch a few YouTube videos to see what the process of removing and installing a battery into a modern EV is. Quite simple. Quite fast too. A shop needs a two post lift and a lift able capable of handing the weight of the battery. Two techs are efficient.
Hyundais battery warranty is 100K miles or 10 years so the EV owner won't need to address any battery issues before then.
These EV batteries are nothing like 12V lead acid batteries. I've spoken to several people who apparently assume the traction battery is one giant battery lump. That there aren't any sub-assemblies within the battery case.
With a 12V lead-acid battery you replace it as a whole and recycle it. An EV traction battery has many parts inside and a good technician can disassemble the battery and replace either modules or cells enabling the battery to be returned for many more years of service.
Interesting things are happening in the after market. With the earliest Leafs wearing out their batteries, people are learning to rebuild those traction batteries with new and different battery modules. ALL the Leaf batteries are interchangeable. A brand new 62 KWH battery can be retrofitted into the earliest Leaf that had the 24 KWH battery. It requires a translation module supplied by the after market to be installed. Neither difficult nor (compared to the price of a new EV) expensive. With the lower power motors in the older cars, a very efficient Leaf with 275+ miles of range is the result. Other solutions include CATL battery modules in place of the Nissan modules. I've even traded messages with a fellow who is looking to retrofit a new battery that includes a cooling system enabling the Leaf to overcome its passive battery cooling problem. There is someone in Europe that has a CCS retrofit system.