Mitsubishi i-MiEV Electric Car gets Lower Price Tag
Mitsubishi i-MiEV to be priced lower than $30,000
Mitsubishi has reacted to Nissan’s recent LEAF electric car announcement with an announcement that the Mitsubishi i-MiEV will join Nissan in offering an electric car for less than $30,000. This is good news for consumers who have been waiting for an affordable electric car.
There is little doubt that Nissan setting an anchor price for its electric car encouraged Mitsubishi to drop the price of the i-MiEV in Japan from $42,612 to its new price point of $29,828. Mitsubishi expects to offer its electric car for under $30,000 in the U.S. and European markets as well.
If Mitsubishi succeeds in its marketing plan, the actual cash outlay from potential i-MiEV buyers could be considerably less than the sticker price of the vehicle. A federal tax credit of $7500 and a possible state credit of $5,000 would bring the price of the i-MiEV to under $20,000. This would make the electric car competitive with sub-compact gasoline powered vehicles.
Even though Mitsubishi has moved into the electric car market, consumers may still prefer the Nissan LEAF simply because Nissan got into the market first. It will be interesting to see which vehicle leads the pack when the EV wheels finally roll down U.S. roads. So who do you think is a better contender - the Nissan LEAF or the Mitsubishi i-MiEV?