Matt and Becky Walton the first Fit EV customer say they will use the Fit as a daily commuter car.
In a response to Nissan’s cutting the Leaf electric vehicle price by $6,400 earlier this year, Honda today announced a reduced Fit EV lease price of $259 a month beginning June 1. The steep reduction trims the payment from $389 a month.
Moreover, the revised Fit EV three-year lease requires no down payment, has unlimited mileage, provides routine maintenance and collision coverage, as well providing a 240-volt home charging station, although the customer must pay for its installation but owns it forever. To the horror of auto execs, this program might foreshadow the next generation of marketing incentives that would apply to other types of vehicles.
In a classy move, the new reduced lease price and unlimited mileage term also will be applied to existing Fit EV customer leases going forward starting in June 2013. With the reduced payment, unlimited mileage, maintenance and collision coverage, the new lease arguably makes the Fit EV one of the most affordable electric vehicles available in the U.S.
The old three-year term lease cost $389 per month, which computes to a Manufacturer’s Suggested Retail Price (MSRP) of $36,625, before $790 in delivery charges. Collision coverage, maintenance costs and roadside assistance service were included in lease-only vehicle. Gasoline fueled versions of the Fit sell in the $16,215 to $21,000 range.
Honda is responsible for repairs to the Fit EV, leaving to the lessee only to buy and carry liability insurance for at least the minimum required by the lease. There is no deductible, and Honda said it would evaluate and approve all repair requests submitted. The lessee will be required to call a toll free number to report all collisions/damage and receive instructions to arrange for repairs.
In a release, Honda said that the Fit EV online application is now simplified to allow for quicker approval and delivery. The network of qualified Fit EV Honda dealers in California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut will expand from 36 to more than 200 by the end of June.
IF you believe in Environmental Protection Agency ratings – a big if at AutoInformed – the 2013 Fit EV is the most efficient 5-passenger electric vehicle on the market with a combined adjusted mile-per-gallon-equivalency rating of 118 MPGe3, an EPA-rated driving range of 82 miles, and a low energy-consumption rating of just 29 kilowatt hours (kWh) per 100 miles.
Based on the five-door, five-passenger Fit, the Fit EV has a 20-kilowatt-hour (kWh) lithium-ion battery and a compact 92-kilowatt ( or 123 horsepower maximum, but only100 or 63 horsepower in normal and economy modes) AC synchronous electric motor that generates 189 ft-lb of torque. The result is a claimed and unadjusted class-leading range of 132 miles.
The gasoline Fit has an Environmental Protection Agency (EPA) city/highway/combined fuel economy rating of 28/35/31 miles per gallon, and a 10.6-gallon tank for regular fuel. It is powered by a 1.5-liter, i-VTEC four-cylinder engine rated at 117 horsepower at 6,600 rpm and 106 lb-ft. of torque at 4,800 rpm. Gasoline Fits only have a 5-speed manual or automatic transaxle available. Curb weight is in the 2500-2600 pound range. The Fit EV curb weight is 3252 pounds.
Read AutoInformed on:
- Nissan Cuts Leaf Price by $6,400 for the now U.S.-Assembled EV
- Scientists Urge Strong Government Policies to Cut Greenhouse Gas Emissions and Develop Alternative Fuels. Caveats Abound
- Honda Fit EV Rated by the EPA at 118 MPGe, the Highest Ever
- First 118 MPGe Honda Fit EV Delivered in California
- Honda Now Leasing Fit EV in Japan – Best Efficiency Claimed
- Spark EV Electric Motor Manufacturing Starts in Baltimore
- Spark Plug-in EV to Debut in La-La Land at Los Angeles Show
- Chevrolet Spark EV $25,000 after Federal Subsidy of $7,500
- Honda Expands Fit EV Leasing to East Coast Markets
- 2012 Record Year for U.S. Hybrid Sales, But EVs Remain Insignificant
- Milestones – Nissan Begins Assembly of 2013 Leaf EV in Tennessee
