What This Affordable EV Says About America's Untenable Car Market

The Nissan Leaf is an O.G. in the electric space, as much as any Tesla. Launched in 2010, it was the world’s first modern battery-electric vehicle put into mainstream production.

The second-generation Leaf was sold from 2017 to 2025. It was also the most affordable new EV, but topped out at only 212 miles of range.

This third-generation Leaf is just now going on sale in America. It’s a huge glow-up from the last one: a new 75-kWh battery pack, up to 303 miles of range and a Tesla-style NACS plug with Supercharger access.

It’s powered by Android Automotive OS, so it has built-in Google Maps and the Google Play app store. Software-wise, it’s on par with the best of the best in America now.

More crucially, it’s no longer a dowdy little hatchback, but a small crossover. And a stylish one, too, that comes in some fun colors, like neon blue.

First and foremost: the price tag. The new Leaf starts at $29,990. You’d probably want some decent equipment, so I recommend the middle SV+ trim, which rings in at $34,230.

It’s basically unprecedented to get a 300-mile EV for $30,000 or less in America. Even the promising new $29,000 Chevy Bolt only gets you 255 miles of range. And it won’t be on sale until next year.

For me, the Leaf just did everything well. It’s no luxury car, but it doesn’t feel cheap. It’s front-wheel-drive, but still quite fun behind the wheel. It was practical and easy to park. And the Tesla plug is a great addition.

Bottom line: this is one of the first truly no-compromise, road-trip-ready EVs I’ve driven in the U.S. that wasn’t outrageously expensive. And that’s where the electric field needs to go next. However…

There’s the obvious challenge here: the Leaf would’ve been even cheaper with the now-dead EV tax credit. While it’d only qualify for $7,500 off its lease price because it’s made in Japan, that would’ve been an even sweeter deal.

Tariff volatility could make its price tag fluctuate even more.

For both reasons, Nissan is also predicting lower-than-expected demand for the new Leaf, according to Automotive News.

“The market situation in the U.S. is getting bad because of the change in subsidies and the tariff situation,” its chief engineer told the publication.

Nissan USA has even said the new Leaf’s launch will be “conservative and targeted” to EV-friendly places like California and Colorado.

All of that is a shame, because the Leaf is exactly the car Americans need right now: Good, without breaking the bank.

Kelley Blue Book reported this week that the average price of a new car in America crossed $50,000 for the first time ever.

“The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market,” KBB’s chief analyst said.

Americans are putting less down for a car than ever, and taking out longer loans for them, too.

“Edmunds’ Q3 data shows… the share of $1,000+ monthly payments and 84-month loans held near record highs,” the car-buying site reported.

Other Edmunds stats are even more horrifying: the average amount owed on upside-down loans hit a record high in Q3, and nearly one in three drivers with negative equity owe between $5,000 and $10,000 in debt. Underwater and sinking deeper, as Edmunds put it.

Basically, new cars are increasingly a luxury for wealthier Americans—a sign of the K-shaped economy where upper-end purchasing power grows and everyone else’s keeps sinking.

I really hope Nissan succeeds with the Leaf. The company’s troubles as of late could fill an entire newsletter; it’s nice to see a brand I loved as a kid score a win for a change.

But reading between the lines, it’s probably going to be tough for Nissan to make the new Leaf very profitable.

Yet Q3’s surge of EV sales showed that Americans are clearly shopping on price. People are priced out of new cars while their household budgets are tighter than they’ve been in years. And in much of America, you have to own a car for basic day-to-day life.

Tariffs, the lack of tax credits, and other challenges could limit the Leaf’s success. Those same factors may also make it difficult for other automakers to lower prices—even if they wanted to, which seems unlikely.

All of that has wider implications for the EV industry, the battery sector and electric mobility in general. You can’t grow an industry around cars that people can’t afford to buy.

The folks at EVwire have a fantastic interactive map about electric sales in the first half of 2025. [EVwire]

Anticipating slower EV demand without tax credits, General Motors is booking a $1.6 billion hit to retool factories. [InsideEVs]

Car brain: “An inability to see beyond the literal and figurative windshield to envision different ways of doing things.” Journalist David Zipper introduces three new books about why cleaner cars alone can’t solve our mobility woes. [Bloomberg]

A new phenomenon: Western technology and manufacturing executives go to China and come home extremely freaked out. [The Telegraph]

America’s first extended-range electric vehicle (EREV) in SUV form will come from Jeep. The new Grand Wagoneer gets a 3.6-liter V6 engine with a big 92-kilowatt-hour battery. Will buyers go for it? [Motor Trend]

China tightened its exports of rare-earth magnets, which are vital to anything with an electric motor, including EVs. It seems GM got ahead of this. [Wall Street Journal]

Toyota gets a £15 million ($20 million) grant from the United Kingdom to hopefully launch its smallest EV ever, a tiny car modeled after a jet helmet. [Electrek]

Even more U.S. Department of Energy grants to advance the EV sector, from battery startups to charging initiatives, could be cut soon. Some include projects from GM and Stellantis. What will the impact be? [E&E News by Politico]

Toyota has teased what seems to be an electric Corolla at the Japan Mobility Show at the end of this month. It’s not offering any other details for now, but I want to know everything. [Car and Driver]

Cybertruck sales have been dismal as of late. More than ever, Tesla is a two-car operation: the Model 3 and Model Y. Can it stay a trillion-dollar company that way? [Financial Times]

Horse Powertrain is a joint effort between Europe’s Renault and China’s Geely Group, aimed at making cleaner and more efficient gas engines—including for hybrids and EREVs. It’s already bigger than you think, and I’m eager to see where it goes next. [Reuters]

Coming to America next year: 600-kilowatt EV chargers, which could provide 10-minute recharging. That is, if any EVs can take that much power, and none here can yet. [InsideEVs]

Chinese EV giant BYD will build as many as 300 fast-charging stations in South Africa by the end of 2026 as it eyes further global expansion. [Bloomberg]

Battery giant Duracell is getting into the EV fast-charging game in the UK, and the charging stations are instantly iconic. [LinkedIn]

Pando Electric’s new $999 EV charger is designed to be modular and repairable by anyone, making it ideal for apartment complexes and multi-family housing. [Pando Electric]

The first six new bidirectional Wallbox EV chargers have been deployed in Menifee, California, allowing Kia EV9 owners to natively power their homes with their cars. [BusinessWire]

Has Tesla’s NACS plug fixed America’s charging woes? My IEVs colleague Kevin Williams says: Not quite. [InsideEVs]

Want to keep track of all the solid-state battery promises out there? We have a big running list. [InsideEVs]

Meanwhile, China is tightening export controls as it seeks to stay ahead of the game on solid-state battery development. [South China Morning Post]

Shares of American Battery Technology tanked after the Department of Energy canceled a $115 million grant. [Barron’s]

Korean battery giant SK On outlines its future plans for tech development, and for a $12 billion commitment to manufacturing in the U.S. [Battery Tech Online]

Another day, another city getting a Waymo deployment. This is a big one: London, in 2026. [Reuters]

But the next front for these cars may be cybersecurity. Go inside a “distributed denial-of-service” prank that led to a 50-Waymo traffic jam in the Bay Area. [Road & Track]

Coming soon: Self-driving police cars with 360-degree cameras and built-in drones? Maybe so, in Florida. [Axios]

Chinese autonomous driving firms Pony.ai and WeRide are on target for IPO in Hong Kong. Both companies have global expansion plans. [CNBC]

A new safety advocacy group has moved from Tesla Takedown protests to pushing for tighter regulation of self-driving cars in America. [Wired]

Honda has announced further investment in Helm.ai, its U.S.-based autonomous driving technology partner. The goal is end-to-end autonomy and automated driver assistance tech. [Just Auto]

Speaking of Honda: It may now co-develop AI systems with Nissan. [Wards Auto]

GM’s Chief Product Officer: “For almost everyone, cars may become the most advanced physical manifestation of AI they’ll ever use. “ [Fortune]

What if your car could predict your needs—without you asking? UK-based startup company SODA Auto wants to do things like adjust the car’s climate controls based on your body temperature. [Just Auto]