Honda Extends Life of Fit EVs at $199 only per month
|   Friday, April 24, 2015
Honda is going to offer its EV customers a two year extension at discounted price by $199 per month lease. Experts say this is a nice ploy to satisfy new customers even though they have stopped electric cars production since last fall. For the time being, they will provide this offer to 1,100 hatchbacks of subcompact designs of their brand.

This offer of $199 is valid for a month and it will be available for 24 months. In the mean time, it will provide unlimited mileage and zero down payment.
This has been announced recently and applies to only fit EV models. Its marketing took place in Oregon and California initially but fit used leased are to be provided in Massachusetts, New York, New Jersey and Maryland.

In July, the initial three year lease is expiring and if at that time any car is returned then participating dealerships of Honda will lease it as a used car to all visitors showing same terms. The leases will also include normal maintenance with collision insurance which is required to check costly electric power train.

EV batteries have been showing the impression to degrade slowly, loses capacity which makes the car to run less distance. Once EVs are of three years, they will start deteriorate slowly. As per Honda's experts, Fit batteries rate around 82 miles range should remain 80 percent even after that ending around 4000 charge cycles. It means it can run full 11 years, provided battery gets depleted fully and recharged completely everyday.

Honda's real lease terms had given warranty of battery for life time lease and used Fit batteries will have same warranty. The brand first started leasing all electric Fit batteries in 2012 for $389 per month and collected less interest of costumers, although the EV got great reviews by critics. Honda picked up the activities since mid 2013 while other brands were starting to give discounts in EV leases. So Honda dropped its cost to $299 per month followed by removing the annual mileage cap.

Up to middle of 2014, many EV dealers had reported electric Fit waiting lists. But Honda decided to schedule it for two years with limited production for battery dependable EV with ended production to last fall since it shifted the demand to hydrogen running electric cars. To provide a minimum numbers of EVs, Honda required meeting California's zero emission vehicle regulations better known as ZEV Mandate. So Fit EVs were produced as compliance cars.

Honda didn't hesitate to buy a large amount of ZEVs from Tesla and seems like it is shaping towards 2015 having new EVs in hand to lease. Honda is expecting to earn a lot of credits for each car when it will offer its new fuel electric sedan during 2016 in California. It will be under ZEV plan rather than a battery electric car.

Along with Honda, Hyundai and Toyota bet that the decision taken for California to install hydrogen fuel filling stations everywhere in the state that will boost demand in fuel electric cars even better than the EV battery level.
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