Last year marked an unprecedented surge in electric car sales across the United States, and 2024 is shaping up to offer even more choices for consumers. The expanding market means that while finding an electric vehicle (EV) is becoming easier, navigating the sheer number of available models can feel overwhelming. Especially when considering the evolving landscape of charging infrastructure and battery technology, understanding the cost is more crucial than ever.
This guide is designed to simplify your electric car search by focusing on price. We’ve compiled a list of prices for battery-electric vehicles (BEVs) in the U.S. market for 2024, encompassing over 250 different configurations. This includes models currently available for order, upcoming releases, and even some discontinued vehicles that you might still find at dealerships, like the Fisker Ocean.
Our aim is to provide a clear picture of the electric car market based on price, helping you understand what’s available at different budget points. While this list is comprehensive, the EV market is dynamic. Prices change, new models emerge, and incentives shift. Consider this your starting point in understanding Electric Cars By Price as of late 2024.
Understanding Electric Car Pricing in 2024
Creating a price list for over 250 electric car configurations is no small task. The automotive industry is in constant flux, with new model year releases, price adjustments, model retirements, and range rating updates happening frequently. Adding to this complexity are the ever-changing regulations surrounding the $7,500 federal tax credit. The eligibility criteria for this credit shift, causing models to appear and disappear from the list of incentivized vehicles. It’s important to note that while a vehicle might not qualify for the tax credit when purchased, it could still be applicable when leasing, which can significantly impact the overall cost comparison.
The prices listed throughout this guide are Manufacturer’s Suggested Retail Prices (MSRP), and they include destination charges and obligatory fees where known. Where applicable, the federal tax credit has been subtracted to present an effective minimum cost before considering state or local rebates, taxes, or additional incentives. Range figures provided are official EPA Combined range estimates, or manufacturer-estimated values when official EPA data isn’t yet available.
This price comparison is anchored by the Fisker Ocean, despite its discontinuation and the company’s bankruptcy. The Ocean serves as an interesting case study in EV pricing, particularly as it received substantial price cuts just before Fisker’s financial difficulties. While supplies last, the remaining Fisker Ocean models represent a unique, lower-priced entry point into the EV market.
Entry-Level Electric Cars: Affordable Options Under $40,000
Moving beyond the discontinued Fisker Ocean, the most affordable new electric car for 2024 is the Nissan Leaf S. Starting at an MSRP of $28,140 (plus a $1,140 destination charge), the base Leaf offers a 40 kWh battery. While it doesn’t currently qualify for the federal tax credit when purchased, leasing options might incorporate this incentive, so it’s worth discussing with your Nissan dealer.
With the Mini Cooper SE no longer available, the next step up in the affordable EV category is the Volkswagen ID.4 Standard. This model, equipped with a 62 kWh battery, boasts an EPA-estimated range exceeding 200 miles. Crucially, the ID.4 Standard is eligible for the $7,500 federal tax credit, bringing its effective purchase price down to as low as $33,660, including destination charges.
Looking ahead, the Chevrolet Equinox EV 1LT is anticipated to become the most affordable electric car offering a 300-mile range. While its estimated starting price is around $35,000 before the federal tax credit, it promises to be a compelling option for buyers seeking longer range at a more accessible price point.
Tesla’s most budget-friendly offering is currently the Tesla Model 3 Long Range RWD, priced at $36,380 (including destination and the $7,500 tax credit). This sedan provides an impressive EPA-rated range of 363 miles. The Tesla Model Y, while slightly more expensive, also represents strong value in the EV market.
Of the extensive list of over 250 EV configurations we’ve examined, only a small fraction – just 17 – are available for under $40,000. A significant factor limiting the number of EVs under this price point is the federal tax credit eligibility, as many models do not currently qualify. However, the landscape is constantly evolving, and future policy changes or manufacturer price adjustments could shift this. The number of configurations available under $50,000 is considerably larger, approaching 60, indicating a growing segment of mid-priced electric vehicles.
Electric Trucks and the Premium EV Segment
For those interested in electric pickup trucks, the Ford F-150 Lightning XLT with a Standard Range battery is the most affordable option, starting at $57,590 after destination fees and the $7,500 incentive. Rivian’s R1T pickup starts at a higher price point, with the base Dual-Motor, Standard Pack version at $69,900, and the Dual-Motor Large Pack variant at $73,150 (benefiting from a $3,750 tax credit). The Tesla Cybertruck enters the market at an even higher price, beginning at $101,985.
While the majority of BEV configurations are priced below $100,000, a substantial portion – approximately one-third – venture into six-figure territory. The most expensive electric vehicles come from luxury brands such as Rolls-Royce, Cadillac, Lucid, Porsche, Mercedes-Benz, BMW, and Audi. Certain models from these manufacturers, especially when configured with higher trims and options, can exceed $150,000.
Conclusion
The 2024 electric car market offers a wide spectrum of choices, and price is a critical differentiator. From entry-level models like the Nissan Leaf and Volkswagen ID.4 to premium offerings from luxury automakers, there’s an electric vehicle for a range of budgets and needs. While fewer than 20 configurations are currently available under $40,000, the sub-$50,000 segment is expanding, providing more accessible options. As tax credits and market dynamics continue to evolve, understanding electric cars by price is essential for making an informed purchase decision. For a detailed breakdown of all 250+ configurations and their prices, please refer to the comprehensive table provided in this guide, and remember to check for the most up-to-date pricing and incentive information when you are ready to buy.
