Toyota may be fresh out of electric vehicle tax credits soon. The Japanese automaker is reaching its threshold for PHEV and EV sales already. It will have to gradually phase out its tax incentive like Tesla in the years to come. This means that the Toyota bZ4X is about to get a lot more expensive.
The 2023 Toyota bZ4X is affordable after the EV tax credit
Toyota’s successful SUV nameplates are normally practical and long-lasting. Some of the most successful nameplates, like the RAV4, tend to be affordable as well. The Toyota bZ4X is far from the most expensive electric SUV, but it isn’t cheap either. The bZ4X has a starting price of $42,000 before additional taxes and fees.
After the federal electric vehicle tax credit, the bZ4X’s starting price is closer to $34,500. The bZ4X is reasonably affordable after the electric vehicle tax credit. The incentive also works wonders for the final bZ4X trim level as well. The Toyota bZ4X Limited AWD starts at $48,780. After the tax credit, the bZ4X Limited AWD’s price could be closer to $41,280.
The bZ4X Limited AWD comes with plenty of great standard features, so the incentive makes it a great deal for the money. The problem is that Toyota will soon run out of tax credits, and consumers will save less on Toyota EVs like the bZ4X.
The Toyota bZ4X won’t be as affordable once the automaker can no longer offer tax incentives to consumers. This could hurt bZ4X in the future, as other models with incentives will be more affordable. In the end, the current EV tax credits were never meant to be permanent, which could pose a huge problem for EV sales in the future. These incentives could make all the difference to some consumers deciding whether they want an EV or not.
Is the Toyota bZ4X worth the money?
The 2023 Toyota bZ4X makes 201 horsepower. The XLE FWD model gets 252 miles of range, and the AWD model gets 228 miles of range.
Its power and range are average. The bZ4X’s price is average as well. Car and Driver praises its spacious, uncluttered interior, many connectivity features, and its acceleration. It goes from 0-60 miles per hour in about 7.1 seconds.
The bZ4X is predictably practical, although some critics claim that its real-world range is lower than estimates. It isn’t as exciting as the Ford Mustang Mach-E or Kia EV6, but do consumers expect excitement from a Toyota electric vehicle?
The bZ4X seems pricey when you exclude the federal tax incentive. We’ll have to wait and see how consumers respond to the nameplate as it becomes more expensive. It’s worth buying for some consumers…for now. It may not stay that way.
What’s the best Toyota bZ4X alternative?
The 2022 Hyundai Ioniq 5 is the World Car of the Year. If you aren’t sold on the Toyota bZ4X, the Ioniq 5 is definitely worth looking into. It provides a smooth, quiet ride, and its interior is spacious and calming. It also comes with great standard tech, and its final trim level is snazzy. Read more about the 2022 Hyundai Ioniq 5 in the next article below.