Auto companies are hoping lower lease prices can put a charge into sluggish electric car sales.
Honda announced Thursday that it’s slashing the monthly lease cost of its tiny Fit EV by one-third, following similar moves by other automakers. Honda is also throwing in other goodies, such as a free home charging station and unlimited mileage.
Electric vehicles once were billed as the answer to high gas prices and dependence on foreign oil. But U.S. oil production is rising and gasoline supplies are abundant. Pump prices have remained relatively stable the past three years, while gas-powered cars have gotten more efficient, making consumers reluctant to give them up.
There’s also the worry that an electric car could run out of juice on longer trips.