Few people care enough about fossil fuel harm to actually buy an electric car. But once the masses see that electric cars are affordable and can bring them large monthly savings over gas, demand is certain to spread. Steep discounts and public subsidies have more and more consumers considering electric cars. Eyes on the Road columnist Joe White takes a look at how going electric could end up putting money in drivers’ pockets. Here is a direct link.
Those who rail against the idea of government incentives helping to make electric cars affordable for the masses, overlook the fact that conventional energy and auto companies have been long standing benefactors of incredible amounts of government support. It makes perfect sense to share the wealth with cars that will also help cash-strapped consumers waste less of their precious income on transportation costs. Some of the status quo energy and car companies have been foolishly lobbying hard against this transition. To their own loss of course, as many pig-headily refuse to build smart products that will actually help their consumers rebuild financial strength and self-sufficiency (never mind help the environment). But the wise ones are beginning to embrace the win-win-win of this technology who’s time has come. See: To spark buyers for electric cars, drop the price to nearly $0
Electric cars are still a long way from achieving mass appeal. Plug-in cars accounted for less than 1% of total vehicle sales in the U.S. during the first four months of this year, according to data compiled by the website hybridcars.com. But the flurry of discounts and public subsidies has more consumers refiguring the math. Plug-in sales more than doubled in the first four months of 2013 compared with a year earlier.
Bronson Beisel, 46, says he was looking last fall for an alternative to driving his gas-guzzling Ford Expedition sport utility around suburban Atlanta, when he saw a discounted lease offer for an all-electric Nissan Leaf. With $1,000 down, Mr. Beisel says he got a two-year lease for total out-of-pocket payments of $7,009, a deal that reflects a $7,500 federal tax credit.
As a resident of Georgia, Mr. Beisel is also eligible for a $5,000 subsidy from the state government. Now, he says, his out-of-pocket costs for 24 months in the Leaf are just over $2,000. Factor in the $200 a month he reckons he isn’t paying for gasoline to fill up his hulking SUV, and Mr. Beisel says “suddenly the car puts $2,000 in my pocket.”
Yes, he pays for electricity to charge the Leaf’s 24-kilowatt-hour battery—but not much. “In March, I spent $14.94 to charge the car” and a bit less than that in April, he says. He also got an electric car-charging station installed at his house for no upfront cost.
“It’s like a two-year test drive, free,” he says.
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