Did Toyota Just Win the Electric SUV Battle With This Brilliant Move?
The SUV vehicle class is currently the most popular vehicle class in America thanks to models like the Toyota RAV4 and Honda CR-V. Automakers are producing electric SUVs to prepare for the electric future. As the industry shifts from internal combustion engines to hybrid and battery electric vehicles, the competition is only getting more fierce. Automakers like Tesla, Ford, and Volkswagen are battling it out to create the most popular electric SUV model. Did Toyota just win the electric SUV battle by offering a deal that’s tough to refuse in our current economic climate?
Toyota doesn’t have the best electric SUV, but it may have the best electric SUV deal
How can the 2023 Toyota bZ4X compete with electric SUVs that have already gained popularity like the Ford Mustang Mach-E, Volkswagen ID.4, and Tesla Model Y? The short answer is, it can’t. In terms of driving range or power, the bZ4X is nothing special. Performance has never been the Japanese automaker’s main concern. Its winning formula focuses on practicality, reliability, and affordability.
The Toyota RAV4 isn’t the most popular SUV in America because it outperforms rivals. It’s the most popular SUV in America because it’s the best deal for the money. Between its price, fuel economy, spacious cabin and cargo area, and wide array of standard features, American consumers have decided that the RAV4 provides the most value. So, how do you beat flashier, more established electric SUVs with a new electric SUV nameplate? Simple, you provide more value.
According to Road Show by CNET, Toyota is offering a year of free fast charging. The automaker is partnering with EVgo to give bZ4X buyers 12 months of access to the company’s fast chargers for free. Toyota doesn’t need to have the best electric SUV to outsell other automakers. If the competition isn’t open to offering a similar deal., the bZ4X could easily dominate the competition because of its pricing and Toyota’s charging deal.
The 2023 Toyota bZ4X could be incredibly affordable
In the early days of electric vehicles, automakers like Tesla created expensive luxury models reserved for the elite. Today, automakers are releasing electric vehicles that America’s middle class can afford with the help of federal electric vehicle tax incentives. These incentives were created by the government to encourage more Americans to switch to EVs and move away from gas-powered vehicles that produce carbon emissions.
The tax incentives allow automakers to have sustainable profit margins and allow consumers to afford these complex, innovative vehicles. According to Kelley Blue Book, the bZ4X is expected to have a starting cost of around $36,000. After electric vehicle tax incentives, its price could be closer to $28,500. That’s only $1,475 more than the RAV4.
The bZ4X could dominate the competition thanks to the perfect storm of events
The 2023 Toyota bZ4X has a chance to dominate the competition because of its low price. It will be one of the most affordable electric vehicles on the market. It may not have as much range as other EVs, but a year of free EV fast charging is hard to refuse.
Gas prices have reached new highs in recent years due to the global pandemic. The Russia-Ukraine conflict has made gas prices even worse. The Toyota bZ4X is the perfect solution to high gas prices because drivers can recharge it for free for an entire year. Imagine a year’s worth of free fuel during one of the steepest gas price hikes in the last decade. The fact of the matter is, some Americans may not be able to afford to pass up a deal this sweet.