DETROIT (AP) — Auto companies are lowering lease prices for electric cars as they try to jump-start slow sales in a competitive market.
Honda announced Thursday that it's slashing the monthly lease cost of its tiny Fit EV by one-third to $259 a month. Honda also is throwing in other goodies such as a free home charging station and unlimited mileage.
Honda's lower-priced three-year lease deal starts June 1. Honda says it also will drop the price of existing leases.
The move comes as more automakers enter the electric vehicle market in the U.S. But relatively low gas prices and concerns about running out of electric power on longer trips have held down sales.
General Motors and Nissan are among the other companies that recently offered cheaper leases on electric cars.