Honda finds another way to cut the price of the electric e:Ny1 by £8,000

The electric Honda e:Ny1 EV gets a price cut of £8,000 to try and boost sales, as well as a £3,000 deposit contribution for finance.

Despite Honda’s belief that EVs are not the only future for cars, they have to play the EV game and revealed the Honda e:Ny1 electric SUV in May last year, which went on sale in July with prices from £44,995 and first deliveries due in October.

But with plenty of compact electric SUVs vying to gobble up what demand for EVs there is, the 201bhp on offer with a 250-mile range and 62kWh battery weren’t enough to set the sales charts on fire with prices from £45k.

So in December, Honda decided that they could get more buyers by offering an £8k deposit contribution if you took out their finance options, with that offer ending in January.

We don’t know if that offer increased sales or not, but Honda has now found another way to make the e:Ny1 cheaper by cutting the headline price by £5,000, so the entry-level Elegance now starts from £39,995 and the top-spec Advance model from £42,195.

It’s a move to permanently cut the asking price instead of fiddling with deposit contributions, but a finance offer is still available with a £3,000 deposit contribution on PCP and HP with a 1.9% rate.

There’s also a five-year care package bundled in which gives buyers five years of servicing, a five-year warranty and five years of roadside assistance.

The Honda E:Ny1 is a perfectly acceptable compact electric SUV, and the price cut should help sales.

A better name might help too.