2013 Toyota RAV4 EV Discounts Are Latest Move in EV Price War


  • 2014 Toyota RAV4 EV Picture

    2014 Toyota RAV4 EV Picture

    Toyota is discounting the 2014 Toyota RAV4 EV through low-cost lease and loan offers. | August 27, 2013

Just the Facts:
  • Toyota hopes to jumpstart demand for the slow-selling 2013 Toyota RAV4 EV through new low-cost lease and loan offers.
  • Toyota.com is promoting the option of a $299-a-month, three-year lease with $3,999 due at signing for the RAV4 EV, along with a 60-month, no-interest loan.
  • "The use of our incentives is tactical, reinforcing our value and focus on keeping our products competitive in the market," wrote Carly Schaffner, a Toyota spokeswoman, in response to an Edmunds query.

TORRANCE, California — Toyota hopes to jumpstart demand for the slow-selling 2013 Toyota RAV4 EV through new low-cost lease and loan offers.

Toyota.com is promoting the option of a $299-a-month, three-year lease with $3,999 due at signing for the RAV4 EV, along with a 60-month, no-interest loan.

The 2013 Toyota RAV4 EV is priced at $50,660, including an $860 destination charge.

"The use of our incentives is tactical, reinforcing our value and focus on keeping our products competitive in the market," wrote Carly Schaffner, a Toyota spokeswoman, in response to an Edmunds query.

The offers run through September 3 and are available only in Los Angeles and San Francisco.

"Toyota's incentive programs are regional and flexible, allowing our regional sales offices to tailor incentives to their specific markets," Schaffner wrote. "Therefore, regional programs available in one geographic market may differ significantly from another."

California is a major market for the RAV4 EV.

The RAV4 EV, which is powered by a Tesla battery pack and motor, is part of Toyota's growing alt-fuel lineup, which also includes a plug-in version of the Toyota Prius hybrid. The discounting move on the RAV4 EV reflects similar pricing strategies by Toyota's competitors.

An entry-level 2013 Nissan Leaf can be leased for $199 a month for 36 months with a $1,999 initial payment.

Earlier this summer, Chrysler and GM debuted $199-a-month leases on the 2013 Fiat 500e and 2014 Chevrolet Spark EV, bowing to increased competition in the marketplace from a price perspective. Honda recently cut the lease price on its 2013 Honda Fit EV from $389 to $259 a month.

Edmunds says: The ongoing EV price war is good news for consumers, as pricing pressure on automakers does not appear ready to let up anytime soon.

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