6 Great Luxury EVs for Less Than $60,000

You’ll pay a premium for luxury cars and even more for luxury EVs. But with automakers investing in electrification and increasing EV production, prices are beginning to come down. Some models remain exorbitantly high, but others are relatively affordable. Here are six excellent luxury EVs for under $60,000.

2022 Tesla Model 3

Affordable luxury EVs under $60,000: 2022 Tesla Model 3
2022 Tesla Model 3 | Tesla

Starting at $48,190, the 2022 Tesla Model 3 has a well-deserved reputation as a superb luxury EV. The polarizing yoke aside, the Model 3 offers an impressive driving range, taking you up to 272 miles with the rear-wheel-drive base model (known as the Standard Range Plus), 315 miles for the Performance model, and 358 miles for the Long Range on a full charge, according to Car and Driver.

The Tesla Model 3 can achieve these ranges thanks to impressive powertrain options and engineering. The Standard Range Plus sports a 54 kWh battery and a single motor, but the Performance and Long Range have an 82-kWh battery and dual-motor configuration. The Model 3 also provides excellent fuel economy, with 138 MPGe in the city and 126 MPGe on the highway.

Inside the spacious cabin, you’ll find a massive 15-inch touchscreen that controls all interior features, including climate control and mirror adjustments. Tesla’s operating system doesn’t support Android Auto or Apple CarPlay. However, over-the-air updates offer drivers considerable vehicle information, functions, and entertainment options.

2022 Polestar 2

If you’re looking for a sporty fastback, the Polestar 2 is a great option. Staring at $47,200, it gets 231 hp and 260 miles of driving range from its front-wheel-drive single-motor base model. A dual-motor, all-wheel-drive version can get up to 259 miles on a full charge.

The Polestar 2 abounds with tech features, including an 11.2-inch touchscreen infotainment system with Android Auto and Apple CarPlay. Navigation also comes standard, along with a 12.3-inch digital instrument cluster display.

Unfortunately, Polestar isn’t as generous with advanced safety features. The 2022 Polestar 2 has automatic emergency braking on every trim, but you’ll need to buy the optional Pilot package for other driver assists.

2022 Audi Q4 e-tron 

With the Audi Q4 e-tron, you get a stylish exterior and a tech-heavy interior at an affordable price for a luxury EV. It starts at $51,095 and qualifies for a $7,500 federal tax credit.

The Q4 e-tron gets up to 250 miles of driving range and excellent fuel economy — 100 MPGe in the city and 89 MPGe on the highway. This five-seater is one of several Audi EVs, but it stands out with bold exterior and interior styling.

Depending on the trim, this model also provides plenty of amenities. They include a panoramic moonroof, a hands-free liftgate, and wireless charging. It also comes with a generous eight-year/100,000-mile warranty, U.S. News reports.

2023 Volvo XC40 Recharge

Starting at $54,645, the Volvo XC40 Recharge is stylish and powerful for a compact crossover. Its powertrain boasts a 78-kWh battery with front and rear motors, though its 223-mile range isn’t toward the top of the segment.

This luxury EV has a 9.0-inch infotainment system powered by Google, although Apple CarPlay is also integrated. A 14-speaker sound system, parking sensors, 360-degree camera system, moonroof, and power passenger seat are optional upgrades.

Named an IIHS Top Safety Pick+ in 2022, the XC40 Recharge has several standard advanced safety features. They include automatic emergency braking, lane-keeping assistance, automatic high beams, blind-spot monitoring, rear cross-traffic alert, lane departure warning, and adaptive cruise control.

2023 Volvo C40 Recharge

The XC40 isn’t the only Volvo model worth considering. The C40, a five-seat coupe crossover, is also a solid buy starting at $56,395. It also sports a modern exterior and gets an estimated 208 miles of range on its base-level powertrain.

That powertrain has a dual-motor setup and a 75-kWh battery, generating 402 hp and 487 lb-ft of torque. The C40 Recharge also includes a 9.0-inch touchscreen and a 12.3-inch digital instrument cluster. Though Google powers the infotainment system, this luxury EV oddly doesn’t have Android Auto integration, but it has Apple CarPlay.

Like the XC40, the 2022 Volvo C40 holds an IIHS Top Safety Pick+ award and boasts numerous advanced safety features on every trim. Cross-traffic alert, lane-keeping assistance, road sign recognition, blind-spot monitoring, and forward collision assistance are all standard equipment. However, buyers can purchase adaptive cruise control and a semiautonomous driving system.

2023 BMW i4

Starting at $56,895, the BMW i4 boasts classic sports sedan styling and plentiful modern technology. This five-passenger luxury EV’s entry-level eDrive35 model has a 66-kWh battery and a single motor generating 281 hp and 295 lb-ft of torque. It can go about 260 miles on a full charge.

The more powerful eDrive40 produces 335 hp and provides 301 miles of range with an RWD single-motor setup. Finally, the dual-motor AWD M50 harnesses a whopping 536 hp.

With the standard eDrive35, buyers get a 14.9-inch infotainment screen next to a 12.3-inch gauge cluster display. In addition, the base model provides abundant amenities. They include a power liftgate, automatic LED headlights, and dimming rearview and side view mirrors. Among the many optional upgrades are a 16-speaker audio system, heated seats, and ambient lighting.

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