Following yesterday’s leak, Rivian has officially introduced the R2. It arrives this spring with a $57,990 price tag, although an entry-level model is slated to arrive in late 2027 and cost around $45,000.

The R2 rides on an all-new platform and is being launched in Performance guise, which has a dual-motor all-wheel drive system producing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque. This enables the model to accelerate from 0–60 mph (0-96 km/h) in as little as 3.6 seconds.

More: Rivian Is Killing Off The Entry-Level R1 Just Before R2 Launch

The crossover is said to have a 87.9 kWh battery pack, which enables it to have a range of up to 330 miles (531 km). When the battery is low, it can reportedly go from a 10-80% charge in as little as 29 minutes. Other highlights include a semi-active suspension and eight drive modes known as All-Purpose, All-Terrain, Conserve, Launch, Rally, Snow, Soft Sand, and Sport.

The model comes standard with an Esker Silver exterior that sports 21-inch Liquid Tungsten wheels as well as Compass Yellow brake calipers and exterior badging. They’re joined by Matrix LED headlights, integrated tow hooks, and a rear liftgate with drop down glass.

Moving inside, there’s a Black Crater Signature interior with Birch wood trim. Buyers will also find 12-way power front seats with heating and ventilation. They’re joined by heated rear seats as well as a heated steering wheel. Other niceties include a nine-speaker premium audio system and a flashlight integrated into the driver’s door.

An assortment of options will be available including Borealis, Catalina Cove, Forest Green, Glacier White, Half Moon Grey, and Midnight paint jobs. They can be paired with black 20-inch wheels wrapped in all-terrain tires. Customers can also get a Coastal Cloud Signature interior, a 4,400 lb (1,996 kg) towing package, and an Autonomy+ subscription that offers monthly or one-time options.

Early models come with a limited edition Launch Package that includes a lifetime subscription to Autonomy+ as well as the aforementioned towing package. There’s also a green anodized key fob and an exclusive Launch Green exterior color, but that’ll cost you extra.

R2 Premium

The $53,990 R2 Premium will follow later this year with a downgraded all-wheel drive system producing 450 hp (356 kW / 456 PS) and 537 lb-ft (727 Nm) of torque. This enables the crossover to accelerate from 0-60 mph (0-96 km/h) in 4.6 seconds and travel up to 330 miles (531 km) on a single charge.

Equipment largely echoes the Performance variant, but the Premium rides on smaller 20-inch wheels with a Bicolor Carbon finish. Drivers also have to make do with five drive modes known as All-Purpose, All-Terrain, Conserve, Sport, and Snow.

R2 Standard Long Range

The R2 Standard Long Range will arrive in the first half of 2027 and cost $48,490. It comes standard with a rear-mounted motor producing 350 hp (261 kW / 355 PS) and 355 lb-ft (481 Nm) of torque. This enables the model to hit 60 mph (96 km/h) in 5.9 seconds and have a Rivian-estimated range of up to 345 miles (555 km).

However, customers can get an optional all-wheel drive system that produces 450 hp (356 kW / 456 PS) and 537 lb-ft (727 Nm) of torque. It echoes the R2 Premium, so expect a 0-60 mph (0-96 km/h) time of 4.6 seconds and a reduced range of 330 miles (531 km).

In order to achieve the lower price tag, a number of features have been dropped. This appears to include the fancy lighting system, tow hooks, and drop down rear window. The model also rides on smaller 19-inch wheels.

The cuts continue inside with a cheaper Black Crater interior sporting a basic five-speaker audio system. The front passenger seat also gets downgraded to 8-way power adjustment, while there’s only heated front seats and a heated steering wheel. Buyers also lose the flashlight and All-Terrain drive mode.

R2 Standard Short Range

Rivian’s much-hyped entry-level model is coming in late 2027 and it will start “around $45,000.” The company isn’t saying much about it, but promised a range in excess of 275 miles (443 km).

Odds And Ends

While Rivian hasn’t released full details, the R2 appears to be surprisingly spacious as there’s 40.4 inches (1,026 mm) of rear-seat legroom as well as 28.7 cubic feet (813 liters) of cargo space. That expands to 79.4 cubic feet (2,248 liters) by folding the rear seats down. Speaking of space, the model has dual glove boxes and a frunk that provides 5.2 cubic feet (147 liters) of room.

Rivian also touched on capability as the R2 has 9.6 inches (244 mm) of ground clearance as well as approach, departure, and breakover angles of 25°, 26°, and 20.6° respectively. The model also has 32-inch tires and is nearly 2,000 lbs (907 kg) lighter than the R1.

Rounding out the highlights are a panoramic glass roof, digital key technology, and a “Haptic Halo” steering wheel with two large scroll wheels. The R2 also has an NACS port as well as a “Field Outlet” that transforms the charging port into a power station with two 120V outlets.

Rivian is currently accepting reservations for a $100 refundable deposit.

Rivian is gearing up to introduce the highly anticipated R2, but waiting is so overrated. Arstechnica knows that feeling all too well as they jumped the gun and published full details of the crossover a day early.

While the article was quickly removed, the internet never forgets and it was archived for posterity. Thanks to this, we know virtually everything about the upcoming model.

More: Rivian Is Killing Off The Entry-Level R1 Just Before R2 Launch

Set to arrive this spring, the R2 will be launched in Performance guise that starts at $57,990 before a $1,495 destination fee. The range-topping model reportedly has a 87.9 kWh battery pack, which powers a dual-motor all-wheel drive system producing 656 hp (489 kW / 665 PS) and 609 lb-ft (825 Nm) of torque.

The R2 Performance is said to have a semi-active suspension and a range of up to 330 miles (531 km). We can also expect a fast charging capability that will take the battery from 10-80% in as little as 29 minutes.

In terms of equipment, we can expect a stylish interior with birch wood trim as well as heated and ventilated front seats. The rear seats are also heated, while other highlights include a nine-speaker audio system and a flashlight that’s integrated into the front door. They’re joined by matrix LED headlights and 21-inch alloy wheels.

Options include the company’s recently announced Autonomy+ semi-autonomous driving subscription and a tow package that enables the model to haul up to 4,400 lbs (1,996 kg).

R2 Premium

A more affordable R2 Premium is scheduled to arrive later this year for $53,990. Its powertrain largely echoes the Performance variant, but it has weaker motors producing 450 hp (356 kW /  456 PS) and 537 lb-ft (727 Nm) of torque.

Those aren’t the only tradeoffs as the model reportedly eschews the fancy suspension and rides on smaller 20-inch wheels. Buyers will also find three fewer drive modes.

R2 Standard

If that’s still too pricey, you can hold off until the R2 Standard arrives in 2027. It retains the 87.9 kWh battery, but it’s paired to a rear-mounted motor producing 350 hp (261 kW / 355 PS) and 355 lb-ft (481 Nm) of torque. This helps the model to be slightly more efficient as the range climbs to 345 miles (555 km).

The equipment list gets shorter as there’s a basic five-speaker audio system, heated front seats, and an “all-black” interior. The drop-down rear window is also absent, while the crossover is shod in smaller 19-inch wheels.

The base R2 is set to arrive in late 2027 with a smaller battery that provides around 265 miles (426 km) of range. Little else is known about this variant, but it’ll cost $45,000.

Other Details

Trims aside, the model measures 185.9 inches (4,722 mm) long, 78.1 inches (1,984 mm) wide, and 66.9 inches (1,699 mm) tall with a wheelbase that spans 115.6 inches (2,936 mm). The R2 is also said to have up to 9.6 inches (244 mm) of ground clearance.

Other highlights include a NACS charging port and a cargo capacity of up to 79.4 cubic feet (2,248 liters). However, that falls to 28.7 cubic feet (813 liters) with the rear seats up.

A separate leak also suggested the model will be offered in eight colors known as Borealis, Catalina Cove, Esker Silver, Forest Green, Glacier White, Half Moon Grey, Launch Green, and Midnight.

Rivian is gearing up to launch the highly anticipated R2 on March 12, but it looks like they’re also planning to trim the R1 lineup. This is unfortunate, but the company sent out a rather ominous e-mail announcing the “Dual Standard is ending.”

The R1S Dual Standard starts at $76,990 and offers 270 miles (435 km) of range. The R1S Dual, on the other hand, begins at $83,990 and has a larger battery pack that enables owners to travel 329 miles (529 km) on a single charge.

More: For $50 A Month, Rivian Will Make You A Passenger In Your Own EV

The R1T Dual Standard also has 270 miles (435 km) of range, but it’s even cheaper as pricing starts at $72,990. Its death will force people to get the R1T Dual, which begins at $79,990.

The automaker isn’t saying much, but confirmed “we have changes coming to our vehicle lineup later this year.” They then suggested customers get an R1 Dual Standard “while you can.”

Rivian went on to promote leases starting at $749 per month for 36 months with a $3,000 incentive on R1T and R1S Dual Standard models ordered by March 19. While there’s enough fine print to call in a lawyer, the company suggested customers could get a new vehicle for only $5,644 due at signing – although that appears to exclude a $1,895 destination fee.

While Rivian didn’t say why they’re apparently discontinuing the R1 Dual Standard, it’s likely in response to the R2. The model is slated to begin around $45,000 and this will undoubtedly pull some customers away from the R1. Eliminating the entry-level R1 helps put some distance between the vehicles, while also simplifying production at the company’s plant in Normal, Illinois.

The second-generation iX3 is one of BMW’s most important new models in recent memory. It introduces an all-new design language and becomes the first EV to feature the brand’s sixth-generation batteries and electric motors. Still, like any new car, much of its success will ultimately depend on the price tag.

In the United States, we know it’ll start at around $60,000, but final details have yet to be announced. In Australia, however, pricing has now been locked in. The dual-motor iX3 50 xDrive will start at AU$109,900 ($77,600), which makes BMW’s latest EV look surprisingly competitive.

Read: BMW iX3 Has A 360 Camera, But You’ll Pay Monthly To Use It

It undercuts several key rivals, including the Polestar 3 (AU$116,700 / US$82,500), Audi Q6 e-tron quattro (AU$122,500 / US$86,600), Genesis Electrified GV70 (AU$132,800 / US$93,900), and Porsche Macan 4 (AU$134,400 / US$95,000). It is also just AU$5,000 ($3,500) more expensive than the previous-generation iX3 was in flagship form, back when it used a single electric motor.

The base price, however, is up AU$18,900 ($13,300) compared with the previous base iX3, which admittedly had a smaller battery pack, produced just 281 hp (210 kW) from its rear-mounted motor, and offered a quoted range of 286 miles (460 km).

By comparison, the new iX3 50 is available only with a pair of electric motors delivering 463 hp (345 kW) and 476 lb-ft (645 Nm) of torque. It also features a much larger 108 kWh battery pack that supports DC charging speeds of up to 400 kW and offers a range of up to 500 miles (805 km) on a single charge. The dash to 62 mph (100 km/h) also comes in just 4.9 seconds.

Options Can Quickly Add Up

While the new model’s starting price is very competitive compared to European rivals, it will rise significantly once shoppers start ticking off a few options. For example, any color other than the standard Alpine White paint is a AU$2,000 ($1,400) option, or AU$6,000 ($4,200) for the Frozen Space Silver.

Wheel upgrades add further to the tally. The 21-inch wheels cost AU$2,500 ($1,700), 22-inch aerodynamic wheels add AU$5,300 ($3,700), and 22-inch M light-alloy wheels come in at AU$7,700 ($5,400). Buyers can also add an AU$3,500 ($2,500) M Sport Package Pro, AU$4,000 ($2,800) Black Bicolor or Adelaide Grey Bicolor interior finishes, and even a white leather steering wheel priced at AU$300 ($212).

WASHINGTON — Americans are paying more for gas Monday as the U.S.-Israeli war with Iran chokes off a significant route for roughly one-fifth of the world’s petroleum products.

Global prices for Brent crude oil, the international standard, climbed over $100 a barrel. Prices were just above $70 a barrel in the days before the U.S. and Israel launched a surprise Feb. 28 attack on Iran, killing the regime’s top leader and other powerful government figures.

The spike, which peaked at $119.50 per barrel early Monday, caused ricochets throughout markets, with major stock indexes falling worldwide. Oil prices have not reached costs above $100 per barrel since mid-2022 after Russia launched its full-scale invasion in Ukraine.

Following the Feb. 28 strikes, Iranian officials effectively closed the Strait of Hormuz, threatening and reportedly attacking vessels attempting to cross the narrow passage.

Iran’s top security official, Ali Larijani, reinforced on the social media platform X Monday that vessels trying to cross the Strait of Hormuz are not guaranteed safety as the conflict continues.

“It is unlikely that any security will be achieved in the Strait of Hormuz amid the fires of the war ignited by the United States and Israel in the region,” Larijani wrote.  

President Donald Trump defended the price spike late Sunday in a post on his online platform, Truth Social. 

“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY! President DJT,” he wrote.

While the price fell to $90 a barrel just before 6 p.m. Eastern, Patrick De Haan of GasBuddy, a platform that helps people find the cheapest gas prices in their region, said without indications on the direction of the conflict, there’s no guarantee the price will continue to drop.

“It’s hard to know what (prices) will look like, and there’s not a whole lot of clarity on whether or not the administration is actively trying to address the problem that has caused oil to spike,” De Haan told States Newsroom. 

The price of oil dropped below $90 just after Trump said Monday afternoon that the war was “very complete” during a phone call with CBS News’s Weijia Jiang. 

But prices bumped back up.

“There’s just a lot of headlines, there’s a lot of interest, and there’s a lot of volatility in the situation,” said De Haan, head of petroleum analysis at GasBuddy, said.

U.S. gas prices 

The national average for gasoline in the U.S. rose to $3.48 per gallon Monday, according to the AAA gasoline price survey. That’s up from $3.25 per gallon on March 5, according to the survey. 

AAA data shows consumers in Pennsylvania, Michigan and Illinois experienced the highest prices in the Midwest and eastern U.S., with average retail prices ranging from $3.52 to nearly $3.60 for a gallon of regular gas.

Western states, which tend to pay higher gas prices already, saw an average gallon of regular surpass $4. California topped the nation’s list at $5.20 per gallon.

The price to fill up in Arkansas, Kansas and Oklahoma remained the lowest, hovering between $2.92 to $2.99. That’s up from a week ago when prices averaged $2.47 in Oklahoma, $2.57 in Kansas and $2.61 in Arkansas.

Spike among “fastest rates in years”

GasBuddy put the national average Monday of regular at $3.45, and diesel at just over $4.59.

“In just a week, consumers have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following U.S. strikes on Iran and the effective closure of the Strait of Hormuz,” De Haan said.

De Haan added in a blog post Monday that the reason behind oil prices pushing past $100 a barrel for the first time in years is “fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows.”

“As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week, with price-cycling markets potentially seeing increases as early as today,” De Haan said.

Prior to the war, average U.S. gas prices sat just under $3, with expectations for seasonal increases as warmer weather triggers more demand and refineries produce pricier summer blends.

Lexus has finally taken one of its most familiar cars fully electric, and the pricing might surprise you. The redesigned MY26 ES lineup now includes hybrid and battery electric versions, with the entry-level EV being the most affordable in the range, sneaking below the $50k mark.

That makes the new ES one of the more accessible luxury EV sedans on the market, at least on paper. The base electric model starts at $48,795 for the front-wheel-drive ES 350e Premium trim, which gets you a meager 220 hp (223 PS / 165 kW) and a zero-to-60 mph (97 km/h) in 7.7 seconds. Go for the snazzier 350e Luxury trim, and the price jumps to $57,195.

More: Lexus Let The ES Go Bland, Modellista Tries To Bring It Back

For buyers who want a little more punch, Lexus is also offering the dual-motor, all-wheel-drive ES 500e. That version starts at $51,795 in Premium form and climbs to $60,195 for the Luxury trim, both models delivering 338 hp (343 PS / 252 kW) and a more appealing 5.4-second sprint time.

Short Range Or Shorter Range?

The decider for many potential buyers could be the difference in the distances the two can travel before needing to find a charger. Neither has impressively long legs, but the 350e’s estimated 300-mile (484 km) range looks a lot more useful than the 500e’s 250 miles (254 km).

Hybrid Costs Extra

If you’re really bothered by range anxiety, though, you might want to consider an ES that fuses electric power with a 2.5-litre, four-cylinder gas engine. A combined 243 hp (246 PS) hauls the ES 350h Premium to 60 mph in 7.4 seconds in $50,995 front-drive form, and 7.2 seconds in $1,400-pricier all-wheel-drive guise. There’s no Luxury upgrade available for the hybrids, but stepping up to Premium+ inflates the sticker by $4,800.

Radical Redesign

Compared with the old ES, the new one is more than 6 inches (150 mm) longer, rides on a new platform, and has a fresh, edgier look. Inside, a 14-inch touchscreen sits at the center of the dashboard and works alongside a digital gauge display, while new ambient lighting and bamboo-inspired trim aim to make the cabin feel more lounge than cockpit.

Previous ES models for the US were built at the Lexus plant in Kentucky, but the new-generation cars will all be imports from Japan, Toyota having opted to end production of the sedan in America.

Lexus ES pricing

*Prices include $1,295 destination and delivery charges.

The national average price of a gallon of regular gasoline topped $3 Tuesday for the first time this year, and is expected to keep going up.

The average price Tuesday was $3.11, up about 11 cents from Monday, according to AAA.

“The pump reaction is not only underway — it’s accelerating,” said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks prices.

Increases were already on tap even before Saturday’s U.S.-Israel strikes at Iran, as warmer weather usually means more demand and refiners start producing a summer-blend product.

But the attack adds new, powerful momentum to the price surge. The war makes it tough to forecast how long any increases will last or how big they could be. Recent experience does offer some hope that any big spike won’t last.

“While oil markets continue to react to potential tensions in the Middle East, history has shown that the price increases are temporary and quickly fall back,” said Joseph Brusuelas, chief economist and principal at the consulting firm RSM US, on his Real Economy Blog.

President Donald Trump, speaking at a news conference with German Chancellor Friedrich Merz on Tuesday, sought to justify the strikes and said any price hikes would be temporary.

“People felt it’s something that had to be done,” he said. “So if we have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before.”

Immediate market reaction

The market reaction to the Iran war so far has been swift.

Brent crude oil, considered the global standard, topped $80 a barrel early Monday, up from the low 70s last week.

Some analysts saw prices having the potential to go as high as $100 a barrel.

“The forecasts are wide-ranging from over $100/barrel to lower prices this week on new Iraqi oil hitting the market,” said Matt McCall, founder of NXT Wave Research, an investment and market analysis firm, in a tweet. “I see a spike to start the week…and then it depends on the longevity of the war. A quick war and oil does not stay elevated. What is almost certain is volatility.”

The surge in oil prices fueled an overall slide in U.S. stock markets Tuesday, with the Dow Jones Industrial Average down nearly 2% around midday.

Prices up across states

The increases were felt in state after state Tuesday, according to the AAA gasoline price survey.

The nation’s lowest gasoline prices tend to be in the South, from roughly Mississippi to Texas.

The price of a gallon of regular in Oklahoma, the least expensive of any state, was $2.62 Tuesday, up from about $2.47 Monday.

Other changes in the lowest price states:

• Mississippi: $2.64 Tuesday, $2.55 Monday.
• Kansas: $2.70 Tuesday, $2.57 Monday.
• Arkansas: $2.70 Tuesday, $2.61 Monday.
• Louisiana: $2.72 Tuesday, $2.58 Monday.
• Tennessee: $2.72 Tuesday, $2.61 Monday.
• Kentucky: $2.73 Tuesday, $2.63 Monday.
• Texas: $2.74 Tuesday, $2.62 Monday.

The highest-priced gasoline tended to be in Western states. California has in recent years topped the price chart, and did again Tuesday at $4.67 per gallon, up about 1.7 cents a gallon from Monday.

California’s higher prices are the result of several special factors. It has tough environmental standards, and the state has more trouble compensating for refinery shutdown from interstate pipelines.

It’s more difficult for California to make up refinery shortages from interstate pipelines because of its location.

Other Western states have localized reasons prices stay high, and they tended to be less volatile because of the strikes. Some of the higher state averages Tuesday:

• Hawaii: $4.40 Tuesday, $4.38 Monday.
• Washington: $4.38 Tuesday, $4.37 Monday.
• Oregon: $3.95 Tuesday, $3.92 Monday.
• Nevada: $3.73 Tuesday, $3.70 Monday.

Future prices uncertain

The future path of prices depends on some huge unknowns. The biggest could involve the fate of the Strait of Hormuz, where the Iranians can exercise control. One-fifth of the world’s oil passed through there in 2024, according to the U.S. Energy Information Administration.

The strait is “one of the world’s most important oil chokepoints,” EIA said. Iranian officials said Tuesday the strait is closed, CNBC reported.

Most Iranian oil goes to China. Canada is the top importer of U.S. oil, followed by Mexico and Saudi Arabia, according to EIA. The U.S. sells more oil than it imports.

A prolonged change in Strait of Hormuz activity, or even the threat of change, is arguably already affecting oil prices. 

“Even without a sustained blockade, the new risk of closure is already changing behavior,” De Haan said. He listed ship rerouting, war-risk insurance premiums going up and “freight markets bracing for significant cost increases.”

Bottom line, he said: “Most drivers should prepare for gradual increases this week.”

The all-electric Dodge Charger Daytona is big and heavy, and according to some owners, reportedly riddled with issues. In Canada, it can also be configured with tens of thousands of dollars in options, yet much of that added cost appears to evaporate the moment the car hits the market.

This white 2024 Charger Daytona has been listed for sale by Oakville Chrysler Dodge Jeep Ram in Ontario for CA$58,400 (US$42,700). On paper, that does not sound outrageous. Then you glance at the original window sticker and pause. With options included, this car started life at CA$106,493 (US$77,900). Let that sink for a moment.

Sticker Shock And Rapid Depreciation

Ready? Good, let’s carry on. In Canada, the most basic Charger Daytona opens at CA$53,995 (US$39,500). This one is the Scat Pack, which adds CA$26,905 (US$19,700) and pushes the total to CA$80,300 (US$59,200). In return, you get twin motors delivering 670 hp and 627 lb-ft (850 Nm), plus launch control, a head-up display, dedicated drive modes, and a 16-inch digital cluster to keep tabs on it all.

Next up, this Dodge was specified with the CA$9,495 (US$6,900) Plus Group. That buys you ventilated seats, power lumbar adjustment for both front occupants, ambient lighting, and a wireless smartphone charging pad. Comfort, in other words, does not come cheap.

Read: The Charger EV Still Isn’t Selling, So Dodge Hiked Prices By Over $12K

There is also the CA$3,696 (US$2,700) Sun & Sound package, pairing a fixed glass roof with an 18-speaker Alpine audio system. On top of that sits the CA$6,195 (US$4,500) Track Pack, which brings high-performance brakes, a one-piece black spoiler, revised adaptive suspension tuning, and red brake calipers.

Rounding out the list of options is the CA$3,995 (US$2,900) Carbon & Suede package. As the name suggests, it adds carbon and suede accents, but you also get 20-inch black wheels wrapped in 305/25 front and 325/35 rear all-season tires.

It’s hard to see what Dodge was expecting here. Asking this sort of money for an electric Charger was always going to be a stretch. For similar cash, you could slide into a Lucid Air. Or, for CA$80,990 (US$59,200), you could drive away in a brand new Hyundai Ioniq 5 N and still have change left for the charging cable you will inevitably forget at home.

We hate to think about just how much more value this Charger could lose. It has already shed nearly CA$50,000 in under two years, despite covering just 275 km (171 miles). Even at CA$58,400 (US$42,700), you would not bet the house on it flying off the lot anytime soon.

Then again, something tells us that the dealer might be open to trimming that figure a little further just to move it along. You can check out the listing here.

Oakville Chrysler Dodge Jeep Ram

The new Toyota bZ Woodland arrives at a complicated moment for electric SUVs. Conceptualized and likely sent into a production cycle with federal tax credits in mind, the electric crossover is here without those credits to rely on. On top of that, its near identical Subaru twin, the Trailseeker, costs thousands less. Now, Toyota is putting discounts of up to $6,500 on its brand-new electric model to sweeten the deal.

According to Cars.com, the deals aren’t exactly hidden or subtle, either. Buyers can score $5,000 in customer cash, lessees get $6,500 in lease cash, and those with pristine credit can opt for 0% APR for 72 months plus $3,500 cash back. Not bad for a model that effectively just arrived on dealer lots.

How Do The Incentives Work?

Here’s how it breaks down. The $5,000 customer cash incentive functions like a rebate and lowers the price or amount financed. The $6,500 lease cash deal reduces the capitalized cost of the lease, which means lower monthly payments. The $3,500 cash back deal with 0 percent APR is exactly what it sounds like. A discount on the price and no interest on payments for six years. All deals expire on March 2nd.

Review: 2026 Toyota bZ Woodland Is Quicker Than A GR Corolla, But That’s Not Its Real Trick

With pricing starting at $46,750 (including $1,450 destination) and climbing to $48,850 for the Premium, Toyota clearly felt some pressure to keep this wagon-like EV competitive in a cooling segment. These deals should help, considering that the bZ Woodland seems incredibly similar to Subaru’s Trailseeker.

Pricing Pressure From Subaru

For its part, the Trailseeker starts at $39,995 before destination, and that’s without discounts. So even with $5,000 on the hood, the Toyota still plays in a higher price bracket. That means the Woodland’s biggest advantage may come down to brand loyalty, dealer networks, and whether buyers prefer Toyota’s design and packaging.

First Drive: The 2026 Toyota C-HR Refuses To Grow Up And Goes All-In On EV Thrills 

Again, Toyota probably cooked up this car when it thought the $7,500 federal EV subsidies would still exist at launch. With that in mind, this feels like an almost necessary move to keep the car moving off dealer lots.

The loss of $7,500 federal tax credits should, in theory, have put every EV brand on an even footing, but Tesla and its customers decided to write their own script. While most electric car values have dropped since last fall, Tesla values are actually climbing.

According to a new study, used Tesla prices have risen 4.3 percent since the EV credit disappeared at the end of September 2025. Over the same period, nearly every other used EV dropped an average of 3.6 percent.

More: EV Sales Fell Off A Cliff, Yet New Car Prices Still Set Another Record

Because Teslas make up such a huge slice of the used EV pie, the average price of all used EVs actually went up 3.5 percent, painting a superficially rosy picture. Strip Tesla out of the equation and things look very different. Non-Tesla EVs slid from an average of $24,629 to $23,738. Meanwhile, used combustion cars dipped 2 percent.

Declining Share

The iSeeCars study also found that used EV market share fell 20 percent between September and January, dropping from 3.5 percent to 2.8 percent. A year earlier, that share had been climbing, but now it is heading the other way. The early adopters already have their EVs. Mainstream buyers are apparently thinking harder about price, charging, and range.

Average Prices For 1- To 5-Year-Old Used Cars

Look at individual models and the pattern gets clearer. Lower-cost EVs like the Hyundai Kona Electric, Volkswagen ID.4, Kia Niro EV and Nissan Leaf all lost between roughly five and six percent of their value. Meanwhile Tesla Model 3 and Model Y prices ticked up, as did those for the Porsche Taycan, the only non-Tesla EV to experience a jump in values.

New EV Prices Down

New EVs tell a similar story. Excluding Tesla, which iSeeCars doesn’t have data for, average new EV prices dropped 2.3 percent, while new internal combustion vehicles rose 2.5 percent. Some mainstream EVs like the Hyundai Ioniq 5 and Chevrolet Equinox EV saw even steeper cuts.

Carmakers are clearly trying to replace that vanished tax credit with old fashioned discounting, but falling EV sales figures since tax credits disappeared tells us it’s not a complete fix.

Average Used EV Prices

Average New EV Prices

Slate Auto is only a few months away from what could become the most consequential moment in its brief existence. It will soon tell the world exactly how much its trucklet will cost. We already know it is targeting the “mid-$20,000 range,” but whether or not that’ll be cheap enough for widespread adoption is an open question.

This week, the startup teased on social media that final pricing for its two-door EV will arrive in late June. In the video, CEO Chris Barman reiterates that the base “Blank Slate” model is still expected to land in the mid-$20,000 bracket.

More: Slate Still Doesn’t Know What Its EV Truck Will Actually Cost

“We’ve been working tirelessly to get the lowest price possible,” Barman said. “While we’re not pencils down just yet, we’re wrapping negotiations on final parts with suppliers. We’re on track to share new info on the price in June. We think it’ll be worth the wait.”

Obviously, the mid-$20,000 range is a break from Slate’s initial promise of a truck that starts under $20,000. That said, its initial promise relied heavily on the now-defunct $7,500 federal EV tax credit. Without it, breaking that price barrier was always going to be a stretch given material costs and industry margins. The updated estimate sounds a lot more realistic, but also far less revolutionary.

The Reality Ahead

Let’s say that the trucklet launches with relatively approachable MSRP. Slate will still need to nail the details. Execution at the manufacturing, service support, parts supply, and consumer education level will be paramount. Other startup automakers have failed on fewer issues.

Then, there’s the competition. We’ve pointed out just how unattractive a $25,000-$28,000 Slate might appear next to something like the Ford Maverick. That isn’t the only compact truck in the market and the Blue Oval brand is already working on an electric version of its own, which it promises to start from $30,000.

And while we’re still light on specifics, it is hard to imagine Ford delivering something as unapologetically stripped back as the Slate, which famously does without even basic features like integrated speakers and power windows.

That all said, a small, affordable, modular EV with tons of personality might just manage to escape the fray. Production is supposed to begin by the end of the year in Indiana.

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The Chinese government is stepping up efforts to end the price war among local car manufacturers following a sales decline in the first month of the year. In what is the government’s most drastic step yet, there will be a cap on how low automakers can price their vehicles.

Newly-released guidelines from the State Administration for Market Regulation explicitly ban companies from setting prices below the cost of production as part of their efforts to monopolize the market and squeeze out competition.

Read: China’s EV Boom Is Cooling, And The Big Names Are Feeling It

According to the China Automobile Dealers Association, the price war has caused up to 471 billion yuan ($68 billion) in lost output over the past three years. Market sales dipped by their fastest pace in almost two years in January, declining 19.5 percent year-on-year.

Sales fell by an even more considerable 36 percent from December 2025 to January, plummeting from 2.2 million units to 1.4 million, CTV News reports.

Some analysts predict that domestic demand for new cars in China will fall this year, with sales potentially dropping by up to 3 percent. However, Chinese car companies may offset this by exporting more vehicles to overseas markets. BYD, for example, aims to export 1.3 million battery-electric and plug-in hybrid vehicles this year, up from 1.05 million last year.

The Chinese market regulator has warned that companies that don’t comply with the new rules may face “significant legal risks,” although it didn’t reveal what actions could be taken.

Supplier Payment Cycles Slashed

This new ban on setting prices below the cost of production isn’t the only measure being taken to quell the price war. Tighter government oversight has led many major automakers to reduce their supplier payment cycles from an average of 300 days to under 60 days.

As reported by the South China Morning Post, many Chinese car brands have frequently extended payment cycles to keep cash reserves, enabling them to ramp up research and development. The new government oversight appears to be helping.

“The results showed government intervention worked, as the automotive groups feared they could face severe punishment if they failed to operate in compliance with the authorities’ requirements,” chief executive of the Shanghai Mingling Auto Service consultancy Chen Jinzhu said. “Without delayed payments to suppliers, they will not have sufficient cash on hand to sustain discount wars.”

Mazda has taken its time getting into the EV game, aside from the underwhelming and slow-selling MX-30. But now, it finally has a compelling electric sedan in the lineup in the form of the new 6e, which has just landed in the UK. There’s a bit of sticker shock, though, especially when you compare it to pricing in China, where it’s built and sold as the EZ-6 alongside the EZ-60 SUV.

A single electric powertrain setup will be offered for UK buyers, though shoppers can choose between two trim levels. The entry-level version, dubbed the Takumi, is priced at £38,995 (around $53,200 at today’s exchange rates), landing just shy of the €44,900 (US$53,400) starting price in Germany.

Read: Mazda’s Sportier 6e Sedan Launches With A Price Tag That Feels Like A Typo

On the surface,this pricing doesn’t seem too far off the mark. An entry-level Tesla Model 3 starts at £37,990 ($51,900) in the UK, and the Mazda wants to be positioned as a slightly more premium offering. Even so, the UK price tag looks far less compelling when held up against what customers in China are paying.

Twice The Price, Same Car

In the People’s Republic, where the 6e is built, the entry-level model starts at 159,800 yuan (£16,900 / $23,100), and the flagship model at 181,800 yuan (£19,300 / $26,300). By comparison, UK buyers are being asked to pay more than twice the price for the same vehicle. Specifically, 2.3 times more.

This discrepancy may come as a shock to many buyers, but it’s not without precedent, as it’s common for EVs built and sold in China to be far cheaper there than they are in overseas markets.

However, keep in mind that, that, unlike mainland Europe, the UK doesn’t impose specific tariffs on Chinese cars. There’s just the standard 10 percent import duty, plus a 20 percent VAT on all new vehicles, no matter where they’re made. That tax is included in the advertised price, unlike in the US.

Battery and Charging Basics

Both trim levels of the 6e sold in the UK come with a 78 kWh lithium-ion phosphate battery, offering a solid driving range of 348 miles (560 km) and the ability to charge from 10-80 percent in 24 minutes.

The 6e doesn’t promise to be a particularly spritely performer, however, as the rear-mounted electric motor is only good for 254 hp and 214 lb-ft (290 Nm) of torque, meaning the sedan needs 7.9 seconds to hit 62 mph (100 km/h).

The higher-end Takumi Plus starts at £39,995 ($54,600) and adds more upscale finishes, including tan Nappa leather, titanium-look accents, synthetic suede upholstery, and a panoramic glass roof.

Despite appearances, the Mazda6e isn’t a purely in-house creation from Hiroshima. It’s based on the Changan Deepal SL03 (also known as the L07), sharing its platform and much of its core engineering with the Chinese model.

You might have set a New Year’s resolution to slim down, but new-car prices made no such commitment. According to fresh industry data, prices just set another record for January, proving that handing over $50k for a virgin vehicle is basically normal now. But the number of people who think buying an EV is the normal thing to do has dropped dramatically.

More: A Third of Americans Are Priced Out Of New Cars, And It’s Getting Worse

The average transaction price in January reached $49,191, up nearly 2 percent from a year earlier and the highest ever recorded for the month, according to KBB. Although prices dipped slightly from December, Cox Automotive called the drop “seasonally normal,” explaining that the market usually “takes a breather” after year-end, when luxury vehicles make up a larger share of sales.

The average new-vehicle manufacturer’s suggested retail price (MSRP), commonly called “the asking price,” also kept climbing, now sitting at $51,288 and staying north of fifty grand for 10 straight months.

New-Vehicle Average Transaction Price

Last month’s pricing uptick came even as sales mix shifted away from year-end luxury volumes. “We hit a new January high even as prices naturally pulled back from December’s luxury-heavy finish,” said Erin Keating, executive analyst at Cox Automotive.

“Consumers are still finding plenty of options below the industry average, especially in core segments like best-selling compact SUVs, but the disappearance of true entry-level vehicles continues to lift the floor higher.”

Incentives Pull Back Hard

Incentives fell to about 6.5 percent of transaction prices, down from higher levels late last year, meaning buyers are shouldering the burden of those higher prices. Automakers are clearly in margin-protection mode, offering just enough in the way of deals to keep metal moving but not enough to feel generous.

Luxury models and big pickups got the juiciest offers, while compact and midsize cars were left mostly to fend for themselves.

Few Bargains Remain

Compact SUVs remain the value choice. With average prices around $36,000 and down 0.6 percent, they sit well below the industry average and continue to dominate sales. Meanwhile, true bargain basement cars are basically extinct. With the Mitsubishi Mirage gone and the recently axed Nissan Versa reduced to whatever stock is still hanging around, the US market has waved goodbye to the sub $20,000 new car.

At the other end of the spectrum, full-size pickups are still living large. Average prices in that segment remain comfortably above $70,000, and buyers are still lining up, with more than 150,000 big trucks finding homes last month.

January marked the fifth consecutive month where full-size pickups averaged over $70K, reinforcing their outsized role in propping up the market average. Subcompact cars, by contrast, struggle to attract more than a few thousand takers a month. Fewer than 4,000 were sold industry-wide last month.

EVs Shunned

Electric vehicle prices actually slipped to around $55,700, down 0.6 percent lower than a year ago, although Tesla’s fell 2.2 percent in the same period. Incentives for EVs also cooled sharply, dropping to 12.4 percent of ATP, down from 18.3 percent in December. Even at those reduced levels, they remain well above the industry average.

However, we wouldn’t be surprised if they are kicked back in to shore up demand, which has dropped alarmingly, according to the data.

KBB says only 66,000 EVs were sold in January, being down a fifth from January 2025, and you can bet the loss of tax credits from October played a big role. In fact, that total reflects a nearly 30 percent year-over-year drop and a 20 percent decline from December. Tesla accounted for about 60 percent of total EV sales.

Average transaction price by automaker

Average transaction price by brand

Average transaction price by segment

Data Cox Automotive/Kelley Blue Book

It’s official: Maserati is in “just get it out of here” territory regarding its electric lineup. A new bulletin sent to dealers authorizes them to serve up $85,000 in EV Assistance Cash on select 2025 Folgore models. And no, that number is not a typo.

More: Maserati GranCabrio Folgore Tignanello Is A Wine-Themed One-Off

Folgore is the Italian brand’s moniker for its EV lineup, and that discount is simply too big not to discuss. Put another way, buyers who once would have shelled out full price for a single Maserati EV could now walk away with that car and a brand-new Chevy Corvette for the same amount.

Sticker Shock Reversed

Leading the charge are the 2025 GranTurismo Folgore and GranCabrio Folgore, both eligible for the full $85,000 incentive when purchased or leased. On the GranTurismo, which carries an MSRP of $199,690, that discount works out to about 43 percent off at $114,690.

According to a report from CarsDirect, it’s the single largest manufacturer-backed discount they’ve ever encountered. That says a lot.

For comparison, the gas-powered GranTurismo starts at $159,495, meaning Maserati originally wanted roughly $40,000 more for the electric version. Now the pendulum has swung violently in the opposite direction.

The GranCabrio Folgore, priced at $208,590, isn’t far behind. Its $85,000 discount equates to roughly 41 percent off MSRP, making it a far more palatable proposition than it was just months ago.

Grecale Joins the Party

Even the far more accessible and practical Gercale Folgore is getting a big cut. Buyers can get up to 33 percent off its $121,290 sticker price, which amounts to $40,000 off. After incentives, that leaves it within just $1,400 of its gas-powered counterpart, which starts at $79,895.

Not only is that a huge change, but the Folgore also comes with a few more bells and whistles that buyers might be interested in if they don’t have to pay a premium.

Where’s the Maserati Magic?

That all said, it’s not too tough to see why these cars didn’t fly off of lots in the first place. For starters, none of them offers especially competitive range. The Grecale is rated for 245 miles, the GranTurismo manages 229, and the GranCabrio tops out at 233 miles.

Really, though, the biggest problem is likely the theater shoppers desire in a Maserati. Sure, these look great… but they don’t sound great.

The Volkswagen Group has been doing some careful footwork lately, trying to stay ahead as Europe tightens the rules on electric cars coming in from China. Cupra boss Wayne Griffiths warned just over a year ago that the brand could be “wiped out” by new European Union tariffs on electric vehicles imported from China.

But now, the VW Group might get a special lane through Europe’s new tariffs on Chinese-built EVs, and that possibility isn’t going unnoticed in Beijing.

More: Ford May Fill Its Factory With Chinese EVs So They Can Dodge Tariffs

Here’s the deal in simple terms. The EU slapped tariffs on electric cars made in China, arguing they benefit from heavy state support. But there is a loophole. Instead of paying those extra duties, a carmaker can agree to sell a model at a minimum price.

Volkswagen looks set to use that option for the Cupra Tavascan, which is built in China, Germany’s Handelsblatt reports. If Brussels signs off, VW can ship it into Europe without being stung by punitive 20.7 percent tariffs, as long as it sticks to the agreed pricing rules. Officially, this is all perfectly above board and part of existing procedures.

Not A U-Turn

The European Commission’s diplomats in Beijing say these kinds of allowances do not constitute a U-turn on its Chinese vehicle policy, a complaint leveled by some critics. Beijing, meanwhile, is being outwardly positive about the rumored EU concessions.

But behind closed doors, the Chinese worry that Volkswagen might be getting friendlier treatment than other manufacturers because it’s a European brand. China had pushed for an industry-wide solution, but now seems to be accepting smaller, case-by-case deals, realizing that letting individual brands cut their own deals may be better than endless stalemate.

Long Process

Each application for a minimum pricing deal can take well over a year and must be reportedly handled on a car-by-car basis, the report says. Industry watchers doubt every Chinese brand will rush in, especially those already making healthy margins even with tariffs in place, but VW evidently believes it’s worth the admin in the Tavascan’s case.

The Tavascan is Cupra’s sportier take on the VW ID.5, a 182.8-inch (4,644 mm) electric crossover built around the MEB platform and offering a mix of single and dual-motor powertrains with up to 353 miles (568 km) of electric range.

Cupra

The average new car now stands at $50k, and that’s a stretch too far for many American drivers, who in some case have drifted to used lots and rival brands. But Ford wants to throw them a lifeline, well, actually five lifelines, promising a wave of sub-$40,000 vehicles before the end of the decade.

Ford executives told retailers at this week’s NADA Show meeting that five new models priced under $40k will join the lineup by the end of the decade, Automotive News reports. That is not just one bargain hero car, but a whole lineup.

Related: Ford Just Killed A Popular SUV And Dealers Are Not Happy

The first arrival is one we already know about, a midsize electric pickup coming next year, a truck dealers are already buzzing about. Previous reports suggest it could land around the $30k mark, which in today’s market qualifies as almost suspiciously affordable and could leave startup Slate’s electric truck dead in the water.

Cross-Segment

But Ford’s plans go far beyond one electric truck. Andrew Frick, who heads up Ford Blue and Model e, told Auto News the new products will span cars, trucks, SUVs, and vans with a mix of powertrains. These will be brand new nameplates, not just cheaper versions of existing models.

“It will be across our lineup of cars, trucks, SUVs, vans, and it will be multi-energy,” Frick said. “That’ll start to fill in the product side, but we have work to do to help affordability in the near term more tactically.”

That sounds great, but dealers still have some short term pain to manage.

Short-term Gap

A big hole in the lineup is centered around the Escape (pictured below). Ford stopped building its entry level crossover in December, and although dealers still have stock to sell, at some point this year they’ll be left with a gap right where many first time and budget focused buyers used to land.

“We understand we’ll be selling Escape into this year, but at some point we’ll run out,” Frick explained. “That does not mean we cannot continue to drive profitable growth through the nameplates we have.”

Dealers have been clear they would love a proper replacement, and while they are dreaming, maybe even an affordable sedan too.

In the meantime, Ford plans to push more entry level trims of models like Explorer and Bronco, lean harder on certified pre owned cars, and offer longer loans and first-time buyer programs. Frick told said there are about 10 separate actions in motion to tackle affordability, so the next time you head down to your Ford dealer, don’t be afraid to bargain hard.

Amid all the noise and high-concept EV launches, one company is quietly betting that simple might be the next big idea. Slate Auto has its skeptics, including Ram boss Tim Kuniskis, but tens of thousands of people have placed reservations for its back-to-basics electric vehicle, suggesting a real appetite for something more grounded and affordable.

Production of the Slate is scheduled to start at a converted factory in Warsaw, Indiana, before the end of this year, but well before this happens, the carmaker has brought one example to Jay Leno’s Garage, eager to show what makes it special.

Read: Slate Still Doesn’t Know What Its EV Truck Will Actually Cost

Joining the bright red and white Slate with Leno was the head of design at Slate, Tisha Johnson, and the company’s chief commercial officer, Jeremy Snyder.

According to Slate, its philosophy is to build an affordable vehicle, which is desperately needed now that the average new car in the US costs almost $50,000. During the interview with Leno, Snyder says the Slate will start in the “mid-$20s,” although the firm still doesn’t appear to have nailed down a final price.

When the EV was announced, it had a promised starting price of under $20,000, thanks largely to the $7,500 federal EV tax credit. Now that the tax credit has been axed, the price has increased.

Personalization is also a key part of what makes Slate interesting. Many exterior parts have exposed fasteners, making it easy to remove and customize panels. Buyers who prefer an SUV body style can purchase a conversion kit, either to install themselves or through a Slate service provider. This places the owner at the center of the experience, and also helps cut costs.

Slate is also placing right-to-repair at the forefront of the ownership experience. Owners won’t need to visit Slate service centers to have their vehicles repaired, whether under warranty or not, and can shop around and take them to their preferred mechanic. If desired, owners can easily repair the Slate truck themselves.

Toyota has quietly confirmed that the new 2026 C-HR will carry a starting price of $37,000, excluding a $1,450 destination fee. That makes the new electric crossover $2,100 more expensive than Toyota’s larger bZ model.

More: Toyota’s C-HR Returns To America But It’s Nothing Like You Remember

While paying more for less is typically a bad thing, the C-HR rides on the e-TNGA platform and comes standard with a dual-motor all-wheel drive system producing a combined output of 338 hp (252 kW / 343 PS). The bZ, on the other hand, comes standard with front-wheel drive and an all-wheel drive variant will set you back at least $39,900.

So what does $37,000 get you? A 0-60 mph (0-96 km/h) time of approximately five seconds and a 74.7 kWh battery that provides a range of up to 290 miles (467 km). Buyers will also find an NACS charging port as well as a fast charging capability that can take the battery from 10-80% in roughly 30 minutes.

On the styling front, the crossover coupe has C-shaped lighting units and 18-inch alloy wheels. The model also comes standard with rain-sensing wipers, roof rails, and a power liftgate.

Despite its entry-level status, the C-HR SE comes nicely equipped with a digital instrument cluster and a 14-inch Toyota Audio Multimedia system. They’re joined by a heated steering wheel as well as heated front seats with fabric and SofTex upholstery.

Other niceties include an 8-way power driver’s seat, dual wireless smartphone chargers, and a six-speaker audio system. The model also has steering wheel-mounted paddle shifters that can apply the regenerative braking system.

The Toyota Safety Sense 3.0 suite comes standard and includes Full-Speed Range Dynamic Radar Cruise Control, Lane Departure Alert with Steering Assist, and a Pre-Collision System with Pedestrian Detection.

They’re joined by Lane Tracing Assist, Road Sign Assist, Proactive Driving Assist, and Automatic High Beams. Buyers will also find Safe Exit Alert, a Blind Spot Monitor, and Front/Rear Parking Assist with Automatic Braking.

The range-topping C-HR XSE will set you back $39,000 and it’s distinguished by larger 20-inch wheels with a gun metal finish. Buyers will also find an upgraded interior with SofTex and synthetic suede seats sporting 8-way power adjustment on both sides. Rounding out the highlights are a driver’s seat memory function, Traffic Jam Assist, Lane Change Assist, and a Panoramic View Monitor.

While Toyota hasn’t released full details, the company has previously mentioned a handful of options. These include a two-tone paint job and a panoramic glass roof.

2026 Toyota C-HR US Pricing