CODA Automotive Offers 10,000 Miles of Free Fuel

LOS ANGELES, Oct. 16, 2012 /PRNewswire/ -- CODA Automotive, a leading developer of all-electric vehicles, announced today it is offering California consumers 10,000 miles of free fuel through a $552 rebate^* with the purchase of a 2012 CODA in October.

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"With gas prices this high in California, this is the perfect opportunity to spell out the extremely low operating costs electric vehicles have to consumers," said Thomas Hausch, CODA senior vice president of sales, marketing and aftersales. "When comparing vehicles, the total cost of ownership (TCO) is critical to consider, along with the purchase price, as it provides a comprehensive view of the bottom line. Once consumers review these factors and in turn, discover the benefits of an EV – including significantly lower maintenance costs, avoiding high gas prices completely, low electricity prices, access to the carpool lane, various tax incentives and more – going electric in today's climate makes a lot of sense. It makes you think: When has cutting edge technology been more affordable than the 'old school' version it replaces soon after its introduction?"

The offer contrasts the low fueling costs of EVs compared to high costs associated with internal combustion engine vehicles. The cost to drive a CODA 10,000 miles is approximately $552 in electricity; the fuel cost to drive a gasoline- or diesel-powered vehicle is approximately $1,723 nationally^**, or more than $2,000 in California^***.

Additionally, EV drivers are not subjected to the fuel inflation that gas- or diesel-powered car drivers experience. Over the past 20 years, the average U.S. real retail gasoline price increased 106 percent when the average U.S. real residential electricity price declined 12 percent^****.

The new 2012 CODA is the first all-electric five-passenger, compact sedan with full rear seating and trunk space that meets American drivers' daily transportation needs without an ounce of gasoline:

• Best-in-class driving range⁽¹⁾:The 31kWh 2012 CODA mileage vehicle features an EPA rated combined range of 88 miles per charge.  Depending on driving habits and other factors, it can be driven up to 125 miles on a single charge, nearly four times the average daily commute⁽²⁾.
• Fast and easy recharging: A 6.6kW onboard charging capability provides a full charge in about six hours on 240 V (Level 2 EVSE) ⁽³⁾ .
• Reliable EV Battery Technology: The CODA sedan is powered by an efficient Lithium-iron Phosphate (LiFePO4) battery pack with an industry leading 10-year, 100,000-mile limited battery warranty.
• Dependable range: The active thermal management system provides constant battery care to help optimize the battery pack's performance in hot and cold weather conditions⁽¹⁾.
• Available now in California: The 31kWh 2012 CODA has a MSRP of $37,250.  In California, federal and individual state tax saving and credits may bring the price down to $27,250⁽⁴⁾ before the promotion.

CODA's 10,000 free miles promotion is a point-of-sale instant rebate of $552 and is available through CODA dealers through October 31, 2012.  California consumers can contact a CODA dealer for test drives and more information: CODA Los Angeles; CODA of Silicon Valley; Fladeboe CODA in Irvine, Calif.; and Marvin K. Brown CODA San Diego.  

About CODA Automotive
Headquartered in Los Angeles, CODA Automotive is a privately held company that designs, manufactures and sells all-electric vehicles. The first CODA EV is a zero emission four-door, five-passenger sedan with a full-size trunk that is designed to meet American drivers' daily transportation needs. Its parent company, CODA Holdings, and its other business lines – CODA EV Propulsion Systems and CODA Energy – develop clean technology products to reduce global dependence on fossil fuels and the social, economic and environmental destruction that follows. For more information, visit www.codaautomotive.com.

^* Driving a CODA for 10,000 miles will cost approximately $552 using Environmental Protection Agency (EPA) and American Automobile Association (AAA) figures. Based on a national average of $0.12 per kWh as used by EPA and EPA rating of 0.46kWh per mile for MY12CODA.  The EPA rating for kWh per mile may vary depending on personal driving style, speed, traffic, temperature, weather conditions, and cargo load.  Electricity prices can vary by location, seasonally, demand (time of day), and fuel costs.  Charge time can vary depending on type of charging (level 1 vs level 2) and weather conditions.

**Driving a gasoline/diesel powered vehicle for 10,000 miles will cost approximately $1,723 using EPA and AAA figures. Based on a national average of 22 miles per gallon for gasoline/diesel powered MY2012 vehicles as used by EPA and a current national average of $3.79 per gallon of regular gasoline according to AAA.

*** Driving a gasoline/diesel powered vehicle for 10,000 miles in California will cost approximately $2,095 using EPA and AAA figures. Based on a national average of 22 miles per gallon for gasoline/diesel powered MY2012 vehicles as used by EPA and a current California average of $4.61 per gallon of regular gasoline according to AAA.

**** Based on average US real retail gasoline and average US real residential electricity prices from 1992-2012. See www.eia.gov/forecasts/steo/realprices.

SOURCE CODA Automotive