18 Jun 2013:
Low-Cost Deals and Incentives
Drive Record Sales of Electric Cars
After years of sluggish sales, the market for electric vehicles has surged in recent months in response to an escalating price war among automakers
that has helped reduce the high up-front costs that have slowed the emerging EV sector. Since Nissan reduced the price of its electric Leaf by $6,400 to $19,000 earlier this year — a move that tripled sales of the car compared with the same time period last year — competitors such as Chevy, Fiat, Mitsubishi, Honda, and Toyota have responded with similar low-cost deals and buyer incentives, Time
magazine reports. Within days of cutting the lease price for its Fit EV from $389 per month to $259 per month, Honda dealerships in California sold every model of the EV, forcing the automaker to apologize to customers who were then placed on a waiting list. After seeing no growth in sales for its electric Volt in recent months, Chevy last week offered a $5,000 cash back incentive. But while the price war is driving EV sales and boosting consumer interest in the emerging green technologies, it remains unclear whether it will be good for business in the long term. Chrysler, which owns Fiat, reported earlier this year
that the company loses $10,000 for each Fiat 500e EV it sells.
Yale Environment 360 is
a publication of the
Yale School of Forestry
& Environmental Studies
Yale Environment 360
articles are now available in Spanish and Portuguese on Universia
, the online educational network. Visit the site.
Business & Innovation
Policy & Politics
Pollution & Health
Science & Technology
Antarctica and the Arctic
Central & South America
A three-part series Tainted Harvest
looks at the soil pollution crisis in China, the threat it poses to the food supply, and the complexity of any cleanup. Read the series.
is now available for mobile devices at e360.yale.edu/mobile
The Warriors of Qiugang
, a Yale Environment 360
video, chronicles a Chinese village’s fight against a polluting chemical plant. It was nominated for a 2011 Academy Award for Best Documentary Short.
Watch the video.
Top Image: aerial view of Iceland
. © Google & TerraMetrics.
, winner of the Yale Environment 360 Video Contest, documents the work of African researchers monitoring wildlife in Uganda's remote Bwindi Impenetrable National Park. Watch the video.