Toyota is offering discounted lease on RAV4 EV

Article by Anita Panait, on August 28, 2013

To boost sales for its slow-selling all-electric RAV4 compact crossover, Toyota is discounting the unit via low-cost lease and loan offers. Toyota is offering until Sept. 3, 2013 the option of a $299-a-month, three-year lease for the RAV$, or a 60-month, no-interest loan, according to the carmaker’s Web site.

The discount offers is only good in the Los Angeles and San Francisco regions, according to Toyota spokeswoman Carly Schaffner. Honda Motor Co., Nissan Motor Co. and General Motors Co. are already offering discounted leases to boost sales of their electric offerings.

Toyota said in 2012 that it expects to sell 2,600 RAV4 EVs by the end of 2014, but the carmaker had only delivered 709 units from September last year to the end of July. Michelle Krebs, a senior analyst at auto researcher Edmunds.com, remarked that the mass market has been reluctant to buy electric vehicles due to the high cost of the technology.

The RAV4 EV carries a tag of $49,800 and is powered by a Tesla battery pack and motor. Krebs remarked that Toyota may not have done enough to promote the car’s Tesla connection. The RAV4 EV is a product of Toyota President Akio Toyoda’s desire to work with Tesla, led by Elon Musk. The project was disclosed in 2010, when Toyota made a $50-million investment in Tesla.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries