New Jersey's Public Service Electric & Gas Co. announced Thursday it is the latest electric utility to participate in a promotion to offer $10,000 discounts on overstocked 2017 Nissan Leaf electric vehicles, a model that is being replaced next month.
PSE&G said the discount, along with a $7,500 federal tax credit, would reduce the retail price of a $32,500 Leaf to $15,000. The Leaf has a range of up to 107 miles on one charge, according to the company. All-electric vehicles like the Leaf also are not subject to New Jersey sales tax.
Several electric utilities, which have encouraged customers to switch from conventional vehicles to electric vehicles, have leaped on the Leaf closeout promotion, including Peco Energy Co. in Philadelphia. Nissan USA says the discount will be in effect until Sept. 30 or as long as supplies last.
Electric vehicle sales have generally lagged behind early expectations, partly because the low price of gasoline has reduced the incentive to switch. But Bloomberg New Energy Finance forecasts that EV sales will overtake internal combustion engine vehicles in about 20 years.