With the average new vehicle price teetering close to nearly $50,000, the hope of a battery-powered vehicle well under that average seems bleak. But for those who want a quiet, efficient, emission-free vehicle that can instantaneously jolt from a standstill and never have to go to a gas station, there are options.
While many EVs are bigger crossovers or premium cars from top brands, a select group of well-priced sedans and small SUVs do exist. We found options that start around $40,000 or well below, but many EVs hover around the $45,000 starting price. EVs like Tesla’s Model 3 once offered budget-friendlier pricing ($35,000 for the base) but have since crept up along with the average car price.
Another affordability factor to consider is the new clean vehicle tax credit program. For 2023, certain vehicle and car buyers can qualify for up to $7,500 in federal subsidies on clean cars like the battery-powered Chevy Bolt EV. One of the qualifications is based on where the car is manufactured (North America only), so it’s best to check the VIN. It’s a complicated equation so also check price caps on eligible vehicles and income caps on buyers. The North American-assembled vehicles on this list should hit the pricing requirements.
Here, in ascending order, are the most affordable EVs currently available to U.S. consumers, including destination fees. Note many base models make the list, but higher trims quickly exceed $40,000.
- Chevrolet Bolt EV Starting price: $27,495
- Chevrolet Bolt EUV Starting price: $28,795
- Nissan Leaf Starting price: $29,135
- MINI Cooper SE Starting price: $34,225
- Hyundai Kona Electric Starting price: $34,845
- Mazda MX-30 Starting price: $35,385
- Volkswagen ID.4 Starting price: $40,290
- Kia Niro EV Starting price: $40,745
- Hyundai Ioniq 5 Starting price: $42,745
Methodology
We sorted our electric vehicles (all sedans, trucks and SUVs were considered) on starting price for base models. To qualify for the list, each car had to be fully electric (no plug-ins or hybrids) and start around $40,000.
Our overall rating methodology is based on seven categories for 2022 and 2023 for a total of 100 points.
For 2023 and 2022, our ratings categories are:
- Performance
- Range, Energy Use & Charging
- Safety
- Infotainment
- Comfort & Room
- Cargo Space & Storage
- Style & Design
Overall: 100 points
- Performance (15 points) The Performance score is a subjective assessment of a vehicle’s handling, braking, acceleration, ride quality and other qualitative performance measures such as horsepower, torque, zero-to-60 time and top speed. Towing capability for trucks and SUVs also is considered. Performance of the vehicles is compared against the identified competitive set. While driving, reviewers look for attributes relative to the expectations set by the manufacturer and by consumer expectations.
- Range, Energy Use & Charging: (15 points) The Range, Energy Use & Charging score is based on the combined mpg estimate for the entire model lineup and how that figure measures against the identified competitive set. The mpg estimates are based on EPA data or the manufacturer if no EPA data is available. Scoring for pure electric vehicles is based on kilowatts consumed per 100 miles and the comparative mile per gallon equivalent, or MPGe.
- Safety (15 points) The Safety score is based on crash test results from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. Vehicles not yet rated by either agency receive zero points. Also included in the safety rating are points awarded for certain advanced driver-assistance safety features offered as standard equipment on the base trim. There are nine safety features Forbes Wheels considers mandatory for the standard offering: forward emergency automatic braking, forward collision warning, automatic high beams, blind spot monitoring, rear cross-traffic warning, adaptive cruise control and lane departure warning or one its higher-level variants, lane keeping assistance or lane centering. Vehicles must have at least four of these in their standard offering to receive points. Vehicles that offer a Level 2 self-driving system, (a combination of adaptive cruise control and lane centering) are eligible for a bonus point.
- Infotainment (15 points) The Infotainment score is based on points awarded for certain features offered as standard equipment on the base trim. Forbes Wheels identifies certain features that are growing in popularity and therefore have been adopted by both premium and mainstream automakers. Some of these features include a minimum 7-inch touchscreen (or premium vehicles that use a rotary knob, touchpad or other mechanism to control a non-touchscreen display), wired Apple CarPlay and Android Auto, a customizable, digital driver information display or instrument panel and at least 2 USB ports. Additional points are awarded for popular features that haven’t been widely adopted in mainstream vehicles such as wireless Apple CarPlay and Android Auto and wireless charging capabilities.
- Comfort & Room (15 points) The Comfort & Room score is based on points awarded for the reviewer’s assessment of the vehicle’s comfort, ergonomics and overall interior feel as well as effective use of space. Points also are awarded for the measurement of rear-seat legroom and how it compares with the identified competitive set. Vehicles that offer segment-best legroom in either rear seat or optional third row are eligible for a bonus point.
- Cargo Space & Storage (15 points) The Cargo Space & Storage score is based on points awarded for the reviewer’s assessment of the vehicle’s large and small cargo spaces (as well as small-item storage) and how well they serve their purpose and effective use of space. Reviewers also consider innovative storage solutions and flexible loading features. Points also are awarded for the cargo space measurements for rear cargo hold or trunk and how it compares with the identified competitive set. Vehicles that offer a segment-best cargo or trunk space are eligible for a bonus point.
- Style & Design: (10 points) The Style score is a subjective assessment of a vehicle’s overall styling and design, inside and out. Reviewers also consider the configuration of the interior and how well the design plays into the function. Build quality also is a consideration.