Coloradans Should Buy An EV: Part 2

I posted a while back suggesting that many Coloradans should consider purchasing an EV if they are in the market for a new vehicle. I thought I should do a follow-up post because Colorado has now approved a new rule requiring 82% of all new cars sold in 2032 have to be EV, full EV or PHEV (plug-in hybrid EV).

Some folks have wondered (complained; ranted) that that is unrealistic, that there simply isn’t the necessary variety of models available and that EVs are still too expensive. You won’t be surprised that I have a different opinion. I agree that if the requirement was 82% by next year, that would be unrealistic. But it’s not. It starts at 43% in 2027 and then increases each year until it reaches 82% in 2032. (As a reference about 8% of all cars in Colorado are currently EVs, and 17.1% of new car sales in the third quarter of 2023 in Colorado were EV.)

While choices are a bit limited right now, pretty much every manufacturer is ramping up EV design and production, with a significant number debuting in 2024 and many reaching volume production in 2025. By 2026 pretty much every conceivable segment will be well represented (and definitely by 2032) so it shouldn’t be difficult to find an EV for almost every use case. But even today there is a decent selection at pretty decent prices (at least compared with other new vehicles). Let’s take a look.

Below is a table of the top ten selling vehicles in Colorado plus four additional models (Accord, Civic, Camry and Altima) which are not in the top ten in Colorado, but are four of the top five in the U.S. (the fifth being the Ford F-Series Pickup which is already in Colorado’s top ten). The prices listed are mostly available inventory in Colorado (as of this writing), although a few may be the price you can get when ordered if I couldn’t find inventory.

ICE Make and Model (top ten in Colorado in order, plus the four)	Price Range
Ford F-150	$48,000 – $100,000
Chevy Silverado	$50,000 – $97,000
Subaru Outback	$27,000 – $54,000
Toyota Tacoma	$31,000 – $55,000
Jeep Grand Cherokee	$43,000 – $79,000
Toyota 4Runner	$43,000 – $56,000
Subaru Forester	$32,000 – $40,000
Toyota Rav4	$32,000 – $43,000
Honda CR-V	$33,000 – $38,000
GMC Sierra	$45,000 – $76,000
Honda Accord	$31,000 – $32,000
Honda Civic	$25,000 – $32,000
Toyota Camry	$29,000 – $31,000
Nissan Altima	$30,000 – $37,000

So let’s compare it to what you can get right now in an EV (full EV, not PHEV). The following table again generally lists what I could find in Colorado inventory, but in a few cases is ordering a custom build as they are just coming to market. All prices reflect current tax incentives, which can be $0, $3,750 or $7,500 at the federal level (non-refundable until January 1, 2024, then available at point of sale so essentially refundable), and $5,000 at the Colorado level (refundable). In the case of Tesla, the price also includes the referral fee discount which is currently $250 (here is my referral code if you’d like to use it, but anyone’s referral code will work). Note that there are additional EVs on the market as well, these are just some of the most popular. Also note that any EVs with an MSRP of less then $35,000 will qualify for an additional $2,500 Colorado tax incentive starting January 1, 2024.

EV Make and Model (alphabetical order)	Price After Any Applicable Tax Incentives (not all of these get the federal tax incentive)
Chevy Blazer EV	$43,000 – $63,000
Chevy Bolt EV	$17,000 – $20,000
Chevy Bolt EUV	$16,000 – $20,000
Chevy Equinox EV (Fall 2023)	$17,000 – $33,000
Chevy Silverado EV	$39,000 – $87,000
Ford E Transit	$33,000 and up
Ford F-150 Lightning	$43,000 – $67,000
Ford Mustang Mach E	$42,000 – $50,000
Kia EV 6	$46,000 – $54,000
Kia Niro EV	$37,000 – $43,000
Tesla Model 3	$26,000 – $35,000
Tesla Model Y	$31,000 – $43,000
Tesla Model S	$70,000 – $85,000
Tesla Model X	$70,000 – $100,000
Volkswagen ID4	$34,000 – $47,000

As you can see, even right now in most vehicle segments there is a good EV choice that often costs less than the ICE alternative, including EV versions of the top two selling cars (trucks) in Colorado. Here are some select comparisons:

ICE	EV
Ford F-150 $48,000 – $100,000	Ford F-150 Lightning $43,000 – $67,000
Chevy Silverado $50,000 – $97,000	Chevy Silverado EV $39,000 – $87,000
Honda Accord Honda Civic Nissan Altima Toyota Camry $25,000 – $37,000	Tesla Model 3 $26,000 – $35,000
Honda CR-V Subaru Forester Subaru Outback Toyota RAV 4 $27,000 – $54,000	Chevy Blazer EV $43,000 – $63,000 Chevy Bolt EUV $16,000 – $20,000 Chevy Equinox EV $17,000 – $33,000 Tesla Model Y $31,000 – $43,000 Volkswagen ID 4 $34,000 – $47,000

Obviously there may not be an EV that meets everyone’s specific needs right now, but there soon will be. And keep in mind that not only is the initial purchase price less expensive most of the time, but the cost of ownership going forward is also much, much less (fuel and maintenance for an EV is a fraction of what it is for an ICE vehicle). And, of course, EVs are cleaner, quieter, safer (Teslas have the safest crash ratings ever tested and EVs in general are safer because of the low center of gravity and no engine up front), help fight climate change, fun to drive, and you never have to go to a gas station again (you start every day with a “full tank”).

So not only do I think 82% by 2032 is realistic, I think for the majority of Coloradan’s and their use cases, 82% actually could be realistic today. So if you are in the market for a new car, I urge you to do some serious comparison shopping to see if an EV might just be the best choice for you. Not only will you benefit, but so will everyone else.