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Electric-car makers lower prices in race to catch Toyota’s Prius – The Globe and Mail

A price war has broken out in the electric vehicle market.

Nissan Canada Inc. said Tuesday it will offer a lower-priced version of its Leaf when the 2013 model goes on sale next month. General Motors of Canada Ltd. is offering seven-year, interest-free loans on the Chevrolet Volt for the next 10 days.

And Mitsubishi Motor Sales of Canada Inc. is offering incentives of $5,000 and $8,000 on the two versions of its i-MiEV electric car.

The price war comes as new competitors enter what at the moment is a tiny segment of the Canadian market, but one that is expected to grow as auto makers diversify their engine offerings to meet stringent new standards for emissions and fuel economy that will start coming into force in 2017.

Nissan Canada, whose parent Nissan Motor Co. Ltd. has made a multibillion-dollar bet that electric vehicles will be the main alternative to internal combustion-powered cars and trucks, will offer a new, S version of its five-passenger Leaf for $31,698.

The SV version, which was the lowest-priced model in 2012 at $38,395, will cost $34,998, a drop of 9 per cent.

More http://m.theglobeandmail.com/report-on-business/electric-car-makers-lower-prices-in-race-to-catch-toyotas-prius/article12485012/?service=mobile

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