Jaguar Discounting I-Pace EVs By Over $20,000
The Jaguar I-Pace EV has been fraught with problems in its short two-year existence. As much as we love the design with its short overhangs and crossover style it falls short compared to any Tesla. Anything competing in this market has to compare to Tesla. In range, charging times, and availability of charging stations, Tesla steps all over the I-Pace. Some of that might be why Jaguar is discounting the I-Pace by over $20,000.
Eye-popping discounting on I-Pace EVs
That’s an eye-popping price reduction. It applies to 2019 models languishing on dealer lots. The original price range was low $70,000 to high $80,000. But these discounts are being seen from base models to fully loaded I-Pace EVs. And the discount is being seen across the country, not just in a few isolated locals.
“As an industry and as a brand, sales have slowed down over the last few months as a result of the COVID-19 pandemic,” Jaguar spokesperson Taylor Hoel told Electrek. “Nationally on I-Pace, we are promoting 0% APR for up to 72 months, and a finance payment deferral program which allows new finance customers to defer their first payment for 90 days.”
Worldwide the I-Pace has sold around 18,000 but in the US only 2,000 have found buyers. Besides not stacking up against Tesla the I-Pace factory experienced battery shortages last year. Production was halted until sources could be found to build more batteries.
Almost immediately I-Pace owners had trouble reaching even half of the range claimed
Having won several design awards and with claims of 300-mile ranges, the I-Pace hit the EV scene with a bang. But almost immediately owners had trouble reaching even half of the range claimed. Software issues caused other problems. It didn’t help that the Jaguar dealer network had little training in EV issues.
Slowly, the I-Pace seems to have overcome some of the range and software issues. Jaguar lists the range at 234 miles per charge. With 0-60 times of four seconds and 512 lb-ft of torque, the I-Pace has plenty of scoot. Its unique suspension allows it to handle like a sports car while still able to track across rough terrain.
Jaguar is discounting 2020 I-Pace models too
If first-year gremlins spook you Jaguar is even discounting 2020 models. With $10,000 off list price that puts the I-Pace starting at around $70,000 depending on options.
According to Electrek, a Tampa Jaguar dealership is leasing I-Pace EVs for $499-a-month with nothing down. The same dealer has a slightly used two-tone I-Pace with 2,500 miles on the ticker for $47,171. That’s in Tesla Model 3 territory.
Maybe Jaguar is hunting for the price range that fits the market. As supply and demand are the cornerstones of pricing, with demand low and I-Pace models sitting around dealership lots something has to give. Now it seems that the price drop will determine if some of the I-Pace shortcomings can be overcome by more attractive pricing.