The 2014 Mitsubishi i-MiEV will start at $22,995 including CHAdeMO DC quick charge port when it goes on sale next spring, representing a $6,130 reduction from the starting price of the 2012 model that preceded it.
After factoring in the Federal tax credit of $7,500, the net MSRP of the 2014 Mitsubishi i-MiEV drops down to only $15,495, excluding $850 shipping.
With a net MSRP of only $15,495 after factoring in the available EV federal tax credit of $7,500 and, for example, with the California state EV financial incentive of up to $2,500 (other generous financial incentives are available through numerous states and municipalities), residents in California can obtain the technologically-advanced 2014 Mitsubishi i-MiEV for as low as $12,995.
The new 2014 Mitsubishi i-MiEV boasts a much more comprehensive standard equipment package. Newly added items that are now standard equipment at no charge to the consumer include:
– Driver and front passenger heated seats
– CHAdeMO DC quick charge port
– Battery warming system
– Heated side view mirrors
– Rear door speakers
– 8A/12A switchable Level 1 charging cable (approximate charge time from near empty to fully charged – 22 hours for 8 amp/14 hours for 12 amp)
– Charge port lamp
– Leather-covered steering wheel and shift knob
– Passenger-side vanity mirror with lid
– Numerous decorative color/trim upgrades
– Aluminum wheels
– Front fog lights
– New daytime running lights (DRL)
– Black-out door sash trim
Mitsubishi is the latest automaker to cut prices of electric vehicles in the face of less than expected demand.
Toyota announced in September it is cutting the price of the 2014 Toyota Prius Plug-in Hybrid by more than $2,000. General Motors Co. said in August it was cutting the price of its plug-in hybrid Chevrolet Volt by $5,000. The price cut came shortly after the automaker announced a $5,000 incentive on the 2012 Volt and $4,000 on the 2013 model.
In July, Ford said it would reduce the price of its low-selling Focus EV by $4,000 for the 2014 model year. The old price of the Focus EV was $39,200; the new price is $35,200. Ford also offered lease discounts of more than $10,000 and $2,000 off the base price for cash purchases.
Sales of Nissan’s all-electric Leaf have jumped since the Japanese automaker dropped the base price by 18 percent, to $28,800 for the 2013 model year. Nissan also added extra cargo room, and for higher-end trims, an on-board charger that reduces electric charging times by half.
Honda announced in May it was cutting the monthly lease price of its Fit EV from $389 to $259 a month and reduce by $130 a month the cost of existing Fit EV leases. The revised lease has unlimited mileage.