Buying For An Inexpensive EV In Colorado

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Final Up to date on: seventeenth August 2025, 12:40 am

On this article, I needed to see how electrical autos (EV) have been promoting in one of many hottest markets within the US, Colorado. They’ve a $3,500 prompt tax credit score for autos underneath $80,000, and also you get an additional $2,500 if the worth is beneath $35,000. They actually have a “Money for Clunkers” program (they name it Automobile Change Colorado) that provides you as much as $6,000 extra off an EV buy if you happen to retire a gasoline automobile greater than 12 years previous and meet earnings limitations. Plus, there’s nonetheless the shortly expiring $7,500 US Federal Tax Credit score. Add these 4 up and a few individuals are getting between $11,000 and $19,500 again on their EV purchases or leases! I’m visiting my daughter this weekend in Colorado, and I needed to do some in-person analysis. I knew I couldn’t analysis all the highest autos right here, so I’ll concentrate on Tesla, Chevrolet, Hyundai, and Ford.

Tesla Manufacturing & Gross sales Look Very Sturdy

Tesla seems to be to be going all out to have a file quarter in automobile gross sales. On the current incomes launch, we discovered Tesla had unexpectedly excessive gross sales and even larger manufacturing. This implies they elevated stock. That is in all probability as a result of they anticipate a rush in demand from consumers keen to purchase earlier than the federal tax credit score expires. There are additionally rumors that Tesla has elevated manufacturing — each manufacturing of the fashions they promote in the present day and in addition manufacturing of the 4 fashions they don’t promote but (the extra inexpensive Mannequin Y, the bigger YL, the Mannequin Y Efficiency, and the Mannequin 3+). So, if these vehicles weren’t promoting, I’d anticipate there can be loads of stock out there on their web site. I appeared within the Denver space and so they solely had 9 Mannequin Ys. Moreover, whenever you click on on them, solely 3 are in inventory; the others are “arriving quickly.” They don’t have any of the bottom fashions with the bottom colour and wheels. They aren’t providing any stock reductions, however they’re nonetheless providing 3.49% financing.

I’m unsure how correct this web site from Norway is (since Tesla has been cracking down on those who screen-scrape their website and combination the info), however it seems that stock goes down. That is for all fashions within the USA, nevertheless it confirmed that Mannequin Ys solely have 205 vehicles in inventory in the entire nation, whereas there are 1,111 Cybertrucks out there.

I didn’t go to the Tesla supply heart in the present day, however all indications are that gross sales are very sturdy. Within the 4th quarter, issues may very well be very tough for Tesla if they’ve hassle ramping up their new fashions, or if they’ll ramp them up however individuals simply don’t need them. Then again, they plan to make use of loads of autos to launch their Robotaxi service throughout the US, a plan that admittedly has a excessive threat of slipping into subsequent 12 months if Tesla’s observe file on autonomy is taken into account. Two years in the past, I believed it will take years for FSD to be working with out a driver. I don’t know if I used to be too optimistic or pessimist. I feel you can argue both case.

Chevrolet

I went to Fowler Chevrolet and requested concerning the base Equinox. The salesperson advised me they have been bought out and had a ready record of about 50 individuals! For the reason that base mannequin is slightly below $35,000 ($34,995), it qualifies for the additional $2,500 Colorado tax credit score. Meaning you should purchase it for slightly over $20,000! No surprise there’s a ready record! I used to be impressed with the Equinox a 12 months in the past, however this base mannequin is a stripped down unit (I don’t anticipate leather-based seats at that value!).

The salesperson stated they’d some Blazers out there, however that they have been near $60,000. I just like the Blazer, however even with the credit, it isn’t value double the cash for a equally sized automobile. I anticipate Chevy can have an enormous drop in gross sales when the tax credit score ends, but when they’ll get the brand new Bolt out with the LFP battery pack and the automobile is constructed within the US (avoiding the Trump tariffs), they might get well shortly. However the Bolt is a a lot smaller automobile than the Equinox, and for some, they gained’t like that.

Hyundai

I went into this dealership pondering perhaps the Kona EV (which begins underneath $35,000) can be the recent vendor based mostly on my Chevy expertise.

However after speaking to a salesman who stated the Kona has solely 200 miles of vary, whereas the IONIQ 5 fashions have between 259 and 318 miles of vary, have rather more room, and are a lot nicer, I centered on the IONIQ 5. I took it for a brief take a look at drive (it was nice and had one-pedal driving). As you possibly can see, the lease deal may be very aggressive. In case you take the $19,350 Hyundai rebate off the $55,000 value, it’s much more than the equally sized Equinox, however it’s a lot higher outfitted additionally (corresponding to the Equinox LT2 or LT3 trims). With a brand new US-based manufacturing facility (defending Hyundai from the Trump tariffs), I feel their gross sales will soften a bit, however Hyundai and Kia (together with Tesla) have all the time been fairly nimble at adjusting to altering market circumstances.

You possibly can see they actually promote the IONIQ model prominently.

Ford

I used to be fairly disenchanted by what I noticed on the Ford seller. If you stroll in, they present a bunch of gasoline guzzling muscle vehicles.

Then they present a 100-year-old Ford truck. Nothing about new expertise.

I requested the salesperson concerning the Mustang Mach-E, and he stated he had an excellent low cost on a used one. The least costly one he confirmed me was virtually $53,000 and he didn’t learn about any incentives. It doesn’t qualify for any federal incentives and solely will get $3,500 from Colorado. Since it’s made in Mexico (just like the Equinox), Ford is paying a 25% Trump tariff on this mannequin. I’d a lot slightly have both the spartan Equinox for lots much less cash or the nicely outfitted IONIQ 5, Equinox, or Tesla Mannequin Y for $10,000 much less. I feel Ford gained’t have an enormous rush of individuals dashing in to purchase the Mustang Mach-E, since nothing is expiring for it this quarter. On the intense facet, will probably be extra aggressive when its main opponents lose their $7,500 tax credit score.

Conclusion

Tesla’s short-term future relies on how the rollout of their 4 new fashions within the 4th quarter goes, and long term if and after they get Full Self Driving to work in private autos and their robotaxi service. Tesla’s devoted Cybercab, made utilizing their unboxed course of, will probably both change all the things or be a disappointment.

Chevrolet seems to be like they’re doing three issues to be extra aggressive: shifting to LFP batteries, introducing a complete line of extra inexpensive EVs, and shifting manufacturing to the US to guard them from tariffs. That ought to work pretty nicely. They might have extra aggressive plans that they haven’t introduced but.

Hyundai can be doing the identical three issues as Chevy: engaged on LFP, introducing extra fashions, and shifting extra manufacturing to the US. I feel they may do in addition to Chevy, perhaps higher.

Ford lately introduced probably the most aggressive plan, nevertheless it additionally leaves the corporate with a 2-year hole the place they don’t have a lot to compete with Tesla, Chevy, and Hyundai.

If you wish to make the most of my Tesla referral hyperlink to stand up to $1000 off a brand new Tesla automobile, right here’s the hyperlink: https://ts.la/paul92237 — however as I’ve stated earlier than, if one other proprietor helped you extra, please use their hyperlink as an alternative of mine. If you wish to be taught extra about Tesla’s new referral program (August 2024), Chris Boylan has written a superb article on it.

Disclosure: I’m a shareholder in Tesla [TSLA], BYD [BYDDY], XPeng [XPEV], and a number of other ARK ETFs. However I provide no funding recommendation of any kind right here.