With automakers trying to capitalize on growing automotive sales, there has been a concerted effort to jump-start the electric car market with price slashing, cash incentives, and attractive leases. In an effort to remain a player in this increasingly competitive electric vehicle landscape, Mitsubishi will cut the starting price of the struggling i-MiEV electric car by $6,130.
The 2014 Mitsubishi i-MiEV (pictured above) will also include more standard equipment than its predecessor. Welcome features such as heated front seats and side mirrors, battery warming system and quick-charge port, rear-door speakers, leather-wrapped steering wheel and shifter, and aluminum wheels, help make the egg-shaped electric subcompact an even better value.
Following in the footsteps of the Nissan Leaf and Chevrolet Volt, which experienced significant discounts in 2013, the 2014 Mitsubishi i-MiEV will cost $23,845 including destination fees. When factoring in the $7,500 federal tax credit returned to electric vehicle owners, the total out-of-pocket cost totals $16,345. This is a significant drop from the nearly $30,000 starting price for the previous 2012 model, which sold so poorly that Mitsubishi completely eschewed a 2013 model-year i-MiEV in an effort to sell its remaining stockpile.
While undoubtedly affordable, the Mitsubishi i-MiEV does have goofy spacepod styling, cramped interior room, and a limited 62-mile driving range (in ideal conditions). Although the Mitsubishi i-MiEV boasts year-to-date sales of 1,018 vehicles, which is twice that of last year’s 511 vehicles at the same point in time, purchases steadily slowed throughout the year to just 12 vehicles last month. On top of that, Mitsubishi still lags way behind the competition in terms of EV success.
Nissan has sold 20,081 units of the Nissan Leaf through November of this year, which is a massive leap from last year’s year-to-date figure of 8,330 vehicles. CEO Carlos Ghosn cut the Leaf’s price $6400 in January, which dramatically amped up Nissan Leaf sales to levels about on par with the Chevrolet Volt. The Volt has sold 20,702 vehicles so far in 2013, which is consistent with 2012 year-to-date sales of 20,838 vehicles. To stay competitive with the Leaf, however, Chevrolet Volt prices were dropped $5,000 this past August.
The 2014 Mitsubishi i-MiEV will be on sale in late spring of 2014.