The Toyota RAV4 is the most popular SUV in America. Despite its popularity, there are better options on the market. The RAV4 may be the most popular SUV in the present, but what about Toyota’s future? The bZ4X is a better buy as gas prices rise and the automotive industry shifts toward producing electric vehicles.
The Toyota bZ4X comes with tax incentives
The United States government has recognized the need to reduce carbon emissions in America. That being said, automakers still have to turn a profit to sustain their businesses, so they can’t sell electric vehicles at losses for long periods of time. The government has found a way to help EVs become more popular while keeping consumers and automakers happy.
Federal electric vehicle tax incentives are tax credits provided by the government following the purchase of an eligible electric vehicle. These credits effectively lower the price of EVs for consumers at no cost to automakers. Why make electric vehicles more affordable?
The government understands that the transition from internal combustion engine vehicles to EVs will not be an easy one. These incentives make electric vehicles more affordable and more appealing to the average consumer. Car and Driver estimates that the bZ4X will start at around $37,000. After the tax credit, its price could come closer to $30,000. The bZ4X will still cost more than a RAV4, but there are no RAV4 incentives that reduce the vehicle’s price as drastically.
The Toyota bZ4X can be refueled for free for a limited time
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Toyota has partnered with electric vehicle charging company EVgo to provide free fast charging for bZ4X buyers for an entire year. This is one of the best electric vehicle charging deals offered by automakers today. The RAV4 may not be the most expensive SUV to refuel, but it can’t compete with a year of free EV charging.
Why pay high gas prices when you can leave gasoline behind altogether and charge your new electric SUV for free? The bZ4X is a new nameplate because it offers a new experience to drivers. The RAV4 nameplate may not be headed for the junkyard anytime soon, but Toyota’s EV is clearly its focus in the future.
Between an electric vehicle tax credit worth $7,500 and a year of free fast charging, it’s hard to imagine that the automaker could come up with a sweeter deal for consumers. Electric vehicle charging infrastructure may be limited, but the government has invested millions into expanding EV charging networks.
The Toyota bZ4X is the brand’s new cornerstone
The Toyota bZ4X is the first of many new electric vehicles from Japanese automaker Toyota. The brand will produce an entire lineup of Beyond Zero Initiative models.
Many automakers aim to have 40% of their lineups consist of EVs by 2030. By 2040, electric vehicles could be more dominant than internal combustion engine vehicles. The RAV4 may be popular now, but as new electric vehicles that are cheaper to refuel emerge, it could quickly become antiquated. The bZ4X is the SUV of the future.