The 2024 Tesla Model 3 RWD is now cheaper to lease than the 2025 hybrid Toyota Camry – here’s how it breaks down.
In the market for a sedan? The folks at CarsDirect surfaced an interesting EV/hybrid sedan comparison. You can lease the 2024 Tesla Model 3 Standard Range Rear Wheel Drive for just $299 per month over 36 months with $3,993 due at signing. That makes the effective monthly cost $410, which is a pretty good deal when you consider that the Model 3’s MSRP is $40,380.
Meanwhile, the Toyota Camry (above), which now only comes as a hybrid with up to 51 MPG combined, didn’t get a price bump despite the redesign. However, Toyota is offering the LE model for $359 per month over 36 months with $2,999 due at signing. The Toyota Camry‘s MSRP is only $29,804, but the effective cost is $442 – that’s $32 more per month than the Tesla Model 3. Plus, you’re going to save even more in a Model 3 because you won’t have to buy gas.
If the 2024 Tesla Model 3 Long Range All Wheel Drive is catching your eye, it’s now more affordable because it’s become eligible for the full $7,500 tax credit. You can lease it for $395 per month over 36 months with $4,089 due at signing, making the effective monthly cost $509. The Long Range AWD has around 70 more miles of range.
If you buy rather than lease the Long Range model, it’s only around $1,000 more expensive than the Standard Range model, thanks to the federal tax credit. But heads up, which I flagged last week, that Tesla scrapped promotional financing on the Model 3 Long Range after it became eligible for the $7,500 federal tax credit. You can read more about that here.
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Honda’s first electric SUV, the Prologue, is already a top-selling EV in the US. With demand picking up, the Honda Prologue is shaping up to be a hit.
Honda Prologue EV sales are picking up in the US
The electric SUV was the fifth best-selling EV in the US, with sales topping 12,600 in the third quarter.
According to Cox Automotive, the Prologue trailed only Tesla’s Model Y, Model 3, Cybertruck, and the Ford Mustang Mach-E.
The performance is impressive, given that Honda didn’t sell a single EV in the US last year. With over 4,100 Prologue’s sold in October, Honda continued outpacing several rivals. The electric SUV outsold the Ford Mustang Mustang Mach-e, which sold 3,313 units in the US last month.
Through October 2024, Honda Prologue sales reached 18,309 in the US, compared to zero last year. Honda began delivering Prologue models in March.
Based on GM’s Ultium platform, the SUV offers up to 296 miles of driving range. Although it uses the same platform as new Chevy, Cadillac, and GMC models, Honda fine-tuned the EV to help it stand out.
Honda added a multi-link front and rear suspension to give it a more “sporty” feel. The Prologue also features built-in Google with AppleCarPlay and Android Auto support, something GM has abandoned.
2024 Honda Prologue trim
Starting Price (w/o $1,395 destination fee)
Starting price after tax credit (w/o $1,395 destination fee)
Starting price after tax credit (with $1,395 destination fee)
EPA Range (miles)
EX (FWD)
$47,400
$39,900
$41,295
296
EX (AWD)
$50,400
$42,900
$44,295
281
Touring (FWD)
$51.700
$44,200
$45,595
296
Touring (AWD)
$54,700
$47,200
$48,595
281
Elite (AWD)
$57,900
$50,400
$51,795
273
2024 Honda Prologue prices and range by trim
The 2024 Honda Prologue EX FWD trim starts at $47,400. With the $7,500 federal tax credit, the electric SUV could be bought for under $40,000 (not including the destination fee).
Electrek’s Take
Although Honda took longer to introduce its first electric SUV in the US, the company is quickly looking to make up ground.
The Prologue, like GM’s new Chevy Equinox and Blazer EVs, is seeing sales surge in the US as new models roll out to dealerships.
Despite headlines claiming EV sales are “slowing” or “cooling,” many automakers, including Honda and GM, are posting record numbers. It isn’t a secret. With long-range models, tech-loaded EVs offered at an affordable price, GM and Honda are proving the demand is there.
WASHINGTON — In the first few years after founding Coinbase, CEO Brian Armstrong shied away from Washington, D.C. But as his ambitions for his crypto exchange scaled, so too did his need to curry favor on Capitol Hill.
“About five or six years ago, we realized that crypto was getting big enough that we needed to go really engage actively in a policy effort, so I started coming out to D.C.,” Armstrong, who started Coinbase in 2012, told CNBC in September, following a day of meetings with political leaders.
Now, it’s practically Armstrong’s full-time job, and Coinbase’s money is all over the nation’s capital. The company was one of the top corporate donors this election cycle, giving more than $75 million to a group called Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms. Armstrong personally contributed over $1.3 million to a mix of candidates up and down the ballot.
The tech industry’s biggest names have dotted Washington for years to try and push their agendas as their market caps have expanded, but for Coinbase, the matter is potentially existential.
SEC Chair Gary Gensler sued the firm last year over claims that it sells unregistered securities. A judge has since ruled that the case should be heard by a jury. Coinbase has fought back vociferously, and has also said that it wants to work with regulators to come up with a proper set of laws governing the nascent industry.
Meanwhile, Coinbase faces a growing list of competitors.
In the company’s latest quarterly earnings report last week, Coinbase missed on the top and bottom lines due to lower transaction revenues and a drop in subscription and services revenues. The shares plummeted 15%.
Data from CCData shows the exchange is losing spot market share to industry rivals like Crypto.com. And investors have many new options for accessing bitcoin and ethereum since the SEC greenlit spot funds this year. BlackRock’s ETF chief Samara Cohen told CNBC that 75% of its bitcoin buyers are crypto investors who are new to Wall Street.
Washington can’t save Coinbase from the competition, but the company is betting that, with favorable lawmakers in place, it can be the leader in a thriving industry rather than under the constant threat of lawsuits and Wells notices.
Armstrong said his D.C. visits normally took place once or twice a year. Then it got to be at least a quarterly occasion. And the pace has only increased.
“In the beginning, a lot of people didn’t know what crypto was,” Armstrong said of his earlier trips. Now, “the discussion has advanced, really, to, how do we pass clear rules, create legislation in the United States?”
An SEC sans Chair Gensler
Paul Grewal, Coinbase’s chief legal officer, attended a fundraiser in San Francisco in June that raised $12 million for former President Donald Trump. It was hosted by venture capitalist David Sacks, a former Trump critic who became an outspoken supporter when he became the Republican nominee.
Trump has never shown much of an aptitude for the nuances of crypto, but he’s welcomed the industry’s financial support. He was applauded in the summer, when he vowed to fire Gensler as head of the SEC if he wins.
Grewal told CNBC that he’s had “many conversations” behind closed doors with both the Trump camp as well as Democratic Vice President Kamala Harris’ campaign. Heading into Election Day on Tuesday, the candidates were in a virtual dead-heat.
“What I think we’re hearing from both campaigns is they get it,” Grewal said. “They understand that in swing state after swing state, there are enough voters who care about crypto that the candidate and their campaigns need to give voice to the concerns of those voters in supporting sensible rules for crypto, sensible legislation coming out of Congress, and that’s very encouraging.”
Grewal said that Trump “came earlier to this pro-crypto view,” but said that Harris recognizes the need for “an agenda focused on promoting sensible rules for crypto as much as any other technology.”
But Coinbase has stayed out of the presidential contest and focused its finances exclusively on Congressional races, as the company looks to help assemble a group of lawmakers with favorable views of the industry.
In the Ohio Senate race, for example, the organization gives Democratic incumbent Sen. Sherrod Brown, who chairs the banking committee, an “F” grade, versus an “A” grade for his Republican rival Bernie Moreno, a blockchain entrepreneur. Some $40 million of crypto money has been directed at defeating Brown, and one PAC has paid for five ads designed to boost awareness of Moreno. The race is very close and is crucial in determining which party will control the Senate.
Stand with Crypto, which has enrolled 1.4 million advocates across the country, is also working to mobilize digital asset owners living in swing states. This effort involved a cross-country bus tour through battlegrounds focused on getting these residents registered to vote.
“It’s really extraordinary, given how razor-thin the margin of victory was in the 2020 election, to see crypto not only be an issue, but potentially a determinative issue in terms of the presidential cycle,” Faryar Shirzad, Coinbase’s chief policy officer, said in an interview.
Shirzad said that last year, he and his team concluded that the only way to get politics out of crypto was “to build our own political operation.” He said the goal is to “neutralization the politicization of the crypto issue and talk about it on the merits.”
Coinbase is far from alone. Nearly half of all corporate money raised this election comes from crypto firms.
Fairshake, one of the top spending PACs this cycle, told CNBC it’s raised around $170 million this election and disbursed approximately $135 million.
Ripple Labs is another one of Fairshake’s top political donors.
The company, which has spent more than $100 million battling Gensler, has given around $50 million to Fairshake. Several executives have also contributed to a mix of Democratic and Republican candidates in races across the country.
Ripple’s head of U.S. public policy, Lauren Belive, told CNBC at a fintech conference in Las Vegas that the company was motivated by the SEC’s overreach.
“We really wanted to put people into office that could learn about this technology and understand this technology, because we need Congress to act and to create federal statutes and not have this enforcement regime,” said Belive. She added the regulator has issued over 100 enforcement actions against crypto-aligned companies.
The crypto voter
Stand with Crypto’s bus tour culminated in a rally held at The Black Cat in Washington on a Wednesday night in September.
The popular music venue has no windows and gives off an “Alice in Wonderland” vibe, with its mix of purple-painted walls and exposed brick, along with its black-and-white checkered floor.
As music blared and drinks flowed, free “Stand with Crypto” merch was being handed out to attendees. Surplus goodie bags were generously doled out to those looking to take extras back home.
Armstrong slipped out of his black SUV to speak to CNBC just outside the venue. He donned a suit and tie, a stark contrast to his fellow attendees. Armstrong said he was confident about the upcoming election.
“The crypto voter has become a major part of this election now,” Armstrong said. “I think the crypto voter is really real, and we’ll see what happens in November.”
In addition to Armstrong, Consensys CEO Joe Lubin, and Rep. Wiley Nickel (D-N.C.) spoke at the rally. Most remarks were inaudible over the roaring buzz of the crowd.
A hush fell over the audience when the headline act, The Chainsmokers, took the stage. The band started with its 2017 classic “Paris,” and the crowd chimed in at the chorus: “If we go down, then we go down together.”
The next European commissioner for sustainable transport drew a hard line in a hearing this week: Apostolos Tzitzikostas backs e-mobility and has no intention of watering down the EU’s plan to ban new registrations for ICE cars in 2035. Problem is, it’s not clear how he aims to make this happen.
At an hours-long hearing Monday before the Transport Committee, live-reported by Politico, the man designated the take the top seat in transport as EU commissioner, Greek politician Apostolos Tzitzikostas, clearly talked the talk. He held firm that he won’t delay next year’s emission targets, regardless of relentless pressures from the automobile industry.
“We have specific rules and goals that we want … and we have to stick to the plan. Otherwise the message the European Union will convey … is not a message of stability and trust,” he was quoted as saying via Politico. “We know very well that the technology is going forward.”
What about Europe’s automobile industry, which employs 14 million people across the bloc and is deep in crisis mode and facing a potential 15 billion euros a year in fines by failing to meet the CO2 targets? Profits are tanking, factories are closing, and European automakers are losing dominance to Chinese competition. Don’t worry, Tzitzikostas said. He will offer a full-scale plan early in his tenure, so we’ll just have to wait and see what this means: more restrictions on Chinese-made vehicles, more government subsidies on electric vehicles?
“We have to make everything in our power to make [the car sector] survive,” Tzitzikostas said. “The automotive industrial plan will give answers to all these skepticisms you might have.”
“There is no reason to be worried.” Hmm, vagueness isn’t very comforting, I’m sure.
However, one solution put on the table was the EU’s support of all-electric company fleets, which account for half of all new registrations across the EU. Doing so would also create a second-hand market in EVs in that most company fleets are purchased by lease, so cars are replaced a few years later. “I can’t say if it would be done by incentives or taxation, but I can’t exclude legislative action.”
From 2035, cars emitting CO2 may not be registered in the EU, which was put in place by Commission President Ursula von der Leyen’s “Green Deal” during her first term in office. To secure a majority vote for her second term, she called for an exemption for combustion engines that are operated with e-fuels. One thing that was clear from the hearing is that Tzitzikostas too supports that position, and wants e-fuels to be included in legislation up for review in 2026.
The future commissioner also wants to drive investment and solutions into sustainable transport, looking into greener air travel by scaling greener fuels, and making rail travel more attractive by allowing rail travelers to use a single ticket and booking system for cross-border train journeys. Lest the automobile industry panic even further, Tzitzikostas added that he does not want to lose sight of road transport and helping European carmakers make the shift to electric vehicles. But again, no details here.
“Commissioner-designate Tzitzikostas talked a good game about cleaning up Europe’s top polluter, transport,” said William Todts, executive director of T&E in a statement. “He showed commitment to e-mobility, scaling clean fuels for aviation and shipping, and solving rail ticketing. But he said very little about what exactly he would do when appointed Commissioner. His repeated refusal to commit to a much anticipated EU law to electrify corporate car fleets was bewildering.”
Still, it’s early days for Tzitzikostas, whose closing remarks, after more than three hours of grilling by MEPs, got a hearty round of applause. His confirmation vote quickly followed, so the tough job of handling Europe’s green transition will soon be all his.
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