Electric vehicles are getting some hefty discounts this year.
In order to deal with a slowdown in demand for big, expensive electric cars — and dwindling federal incentives — dealers and manufacturers are pouring on discounts.
Deals have abounded in the EV market since last summer, when these cars started piling up on dealer lots. Elon Musk's aggressive discounting of the popular Tesla Model 3 and Model Y didn't help either.
By the end of last year, electric cars were seeing some of their highest discounts ever, according to Kelley Blue Book. Average EV incentives rocketed to 9.8% of average transaction prices from 2% just a year earlier.
The discounts are continuing into this year, with some of the most expensive models seeing the biggest price cuts. Changes to requirements for a $7,500 electric vehicle tax credit have also put more responsibility on the dealer and the manufacturer to discount prices.
As demand from wealthy early adopters in the EV segment dries up, affordability is a new deciding factor for the success of an electric car.
We asked Edmunds for a list of the most discounted electric cars in January. These discounts don't take into account the $7,500 federal tax credit for qualifying vehicles.
Here are the best deals you can find on EVs right now: