- A Coda dealer in Northern California has slashed the price of five Coda sedans to $24,995.
- The savings of more than $13,000 from the car's original price does not include government and dealer charges, but buyers may be eligible for up to $10,000 in tax rebates.
- The sale price puts the Coda in a favorable pricing position compared to its competition.
SANTA CLARA, California — Coda of Silicon Valley has slashed the price of five new 2012 Coda electric sedans to $24,995, a savings of more than $13,000 from the car's original price. According to the dealer's Web site, buyers are also eligible for additional savings of $10,000 in federal and state tax rebates.
The dealer notes that the special sale price does not include "government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge, and any emissions testing charge."
The original MSRP of a 2012 Coda sedan was $38,145, including a destination charge of $895. Coda of Silicon Valley currently lists seven sedans on its web site ranging in price from $38,244 to $39,739.
Nissan recently cut the price on its 2013 Leaf S electric to $29,650, including an $850 destination charge, down $6,400 from its 2012 price. The 2013 Ford Focus Electric starts at $39,995, including a $795 destination charge. Pricing for the 2012 Mitsubishi i started at $29,975, including an $850 destination charge. Mitsubishi has not announced 2013 i prices.
The 2012 Coda sedan received a four-star overall crash-test rating from the NHTSA, with ratings of two stars for a frontal crash, five for side impact, and five in a rollover. The 2012 Leaf, by comparison, received a five-star overall rating, with four stars for frontal crashes, five for side impact and four in rollovers.
Coda Automotive began producing the sedan at its plant in Benicia, California, in March 2012. Based on an existing Chinese model, the cars are assembled in Benicia following initial partial assembly in China. The motor is sourced from a company in Colorado.
Opened in 2012, Coda of Silicon Valley was the first dealership dedicated solely to the new electric vehicle. Other Coda dealers in California are multiline operations. The company's CEO, Phil Murtaugh, told Bloomberg News in September 2012 that Coda hoped to expand to 30 dealerships, ranging from Florida to Oregon, in 2013.
Despite this optimism, however, there are signs that all may not be well with the startup. Coda laid off 50 workers in December 2012, and although the company has not released sales figures, media reports suggest that fewer than 100 of the sedans have been sold. Analyst Brad Berman recently wrote in Plugincars.com that he wouldn't be surprised to see "a major shift away from cars, and towards Coda Energy, its spin-off focusing on stationary grid storage systems."
Edmunds says: The price cut at one Coda dealership, although only a limited-time sale, puts the Coda in a better price position compared to its competitors. The bigger question is, does this reduction imply that bigger changes are in store for the company?