Yahoo Autos Check Out the 7 Coolest EVs under $40,000 for 2024
The electric-vehicle market is under close scrutiny right now. As analysts and number-crunchers spell out the lull in EV sales, advocates claim that manufacturers simply overstated demand levels. Who's right? It's hard to say, as the data merely muddies the issue at hand. Year-over-year EV sales figures trend positively, and states like California hit major sales milestones, but end-of-year figures show stagnant EV sales from dealer lots and a shrinking price bubble.
With so much investment behind the technology, however, it's hard to see EVs falling off, at least in the short term. And the recent drop in used and new EV prices isn't just from market factors. Part of the decreasing pricing trend can be owed to manufacturers themselves, as a slew of sub-$40,000 EVs make their way to market for 2024. To make the choice easier for you, we've rounded up the coolest EVs under $40,000—some of them are already in showrooms.
ALSO CHECK OUT 9 CARS DISCONTINUED IN 2024
2024 Hyundai Kona Electric
We haven't had a chance to drive the 2024 Hyundai Kona Electric just yet, but we're looking forward to it. That's because Hyundai redesigned the Kona for 2024 from the ground up and with an EV-first mentality.
The Korean automaker designed the chassis and powertrain as an EV before retrofitting the same space for internal-combustion engines. With 200 to 260 miles of range and 133 to 201 hp, the Kona Electric starts at a shockingly low $34,010 and goes up to $42,380.
2025 Volvo EX30
When Volvo announced the EX30, it was met with nearly industry-wide admiration, if only for its low price point. Starting at $36,245, the EX30 blends minimalist Scandinavian design with sustainable interior materials and clever packaging.
In theory, it's a testament to Volvo's own transformation and a look into what the future holds for the Geely-owned automaker. Indeed, Autoweek Executive Editor Tom Murphy's driving impressions confirmed that the EX30 verges away from the luxury-forward Volvo of old.
In the sub-$40,000 trim, prospective Volvo EX30 buyers will get a projected 275 miles of range from a 69-kWh NMC battery producing 268 hp and 253 lb-ft of torque.
2024 Nissan Leaf
It certainly isn't the freshest or the most exciting choice on the roster, but the Nissan Leaf is enduring for 2024. With a 147-hp electric motor and a 40-kWh battery pack or a 214-hp electric motor and a 62-kWh battery, the Leaf is hardly modern but it still allows 149 to 215 miles of all-electric range.
And it won't break the bank, either. The smaller battery-pack-equipped, lower-range Leaf S starts at $29,255 while the upgraded SV Plus starts at $37,305.
