Jaguar starts offering 0% financing on I-Pace to boost EV sales

The sales of the Jaguar I-Pace, the British automaker’s first all-electric vehicle, haven’t been strong in the US, but the automaker is now offering 0% financing on the I-Pace as a special limited offer to boost sales of the all-electric vehicle.

Jaguar’s I-Pace is seeing a slow ramp-up.

There are some European markets where the electric crossover is dong well, but it is slow overall.

Last year, Jaguar delivered about 6,500 I-Pace SUVs in Europe during the first 9 months of sales of the all-electric vehicle.

In the US, the vehicle only had a few months of sales in 2018 and Jaguar delivered about 400 units.

2019 started very slow for the I-Pace with only just over 1,000 sales globally.

At this point, it’s still unclear if it’s a problem of production constraints or if it’s on the demand side, but Jaguar is introducing a new incentive to help demand in the US.

Jaguar announced that they are now offering 0% financing APR for 24 to 60 months on all versions of the I-Pace. Here’s what they wrote about the offer:

“All new 2019 Jaguar I-PACE models eligible for financing at the APR shown for well-qualified buyers as determined by approved lender. Payments per month per $1,000 financed, regardless of amount of down payment, can be as low as $16.67 at 0% for 60 months. All amounts shown are estimates. Retailer sets actual amounts. Supplies are limited. Taxes, title, license and fees excluded. Residency restrictions apply. Customer must take new vehicle delivery from retailer stock by 4/1/2019.”

The offer is running until the end of March and it is dependent on supply at Jaguar dealerships.

You can check with your local Jaguar dealer for I-Pace inventory and inquiry about the deal.

Electrek’s Take

I am perplexed about Jaguar I-Pace sales. I knew that production would be somewhat limited, but I thought it would be higher 6 months into production.

In our Electrek Review of the Jaguar I-Pace, we noted that the vehicle is stunning but it has some issues, like charging, efficiency and the user interface.

Despite those issues, I think the I-Pace should sell relatively well based on its performance and design alone.

I think it will be interesting to follow the sales of the I-Pace over the next few months, especially as new electric vehicles hit the market, like Audi e-tron and the Mercedes-Benz EQC.