Toyota Mirai's Pricing Seems Way Out of Line
John Goreham's picture

2017 Toyota Mirai's Pricing Will Have Battery EV Fans Laughing Out Loud

First, there was the lack of fueling stations, now this reminder of the Toyota Mirai’s uphill battle related to pricing.

Toyota’s intentions with the fuel cell-powered Mirai EV are pure. The company wants to produce a hydrogen-fueled EV for the masses. At the same time, Toyota wants to earn zero emission credits that it can use towards its California mandates. Fuel cell EVs maximize those credits, but the trick is selling that vehicle to a skeptical green-vehicle shopper, currently holding its breath for the next Tesla Model 3 teaser.

In August, Toyota “sold” 371 Mirais. That makes it perhaps the worst-selling green car on the planet. On the bright side, the “year over year” sales increases are huge. That is a little dig at EVangelists who will report that EV sales are up 300% when three sell instead of one in a given month.

So, here is the new news, which is old news. The Mirai’s prices for 2017 will stay the same. $58,365 is the cost of a new Mirai. Because that price is so outlandish, Toyota is offering lease deals. By all appearances these lease deals are like many EV lease deals that inflate the residual value of the vehicle. Toyota offers buyers a lease of $349 per month for 36 months with just $1200 down. Do the math and Toyota is basically saying that the Mirai will be worth $44,601 after three years of use. That would make it the single best car for resale value in America. Nope. Toyota is planning to subsidize the leases, just as other EV automakers have been doing.

Another incentive from Toyota is the $7500 Trailblazer allowance (discount). Adding in that discount, plus the $13,000 combined government give-away money some buyers can expect in the state of California, and the best possible buy price is about $ 37,865. Fuel and maintenance for three years are included in the price or the lease. As is a sort of free rental program in case you want to drive your Mirai away from where the fueling stations are located.

Given that the after-discount Mirai cost to a consumer is higher than the pre-discount cost of a Chevy Bolt, Chevy Volt, Toyota Prius, or the imaginary Tesla Model 3, we think it is fair to say the Mirai has an uphill climb ahead of it in the personal green vehicle market. Our prediction is that the few that “sell” will end up in companies or state municipalities that have something to do with hydrogen. We would be happy to be proven wrong.

Other Recent Mirai News: 2016 Toyota Mirai launch goes awry due to lack of fueling stations


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