These 20 electric cars are selling below sticker price and rising incentives could help you get an even better deal
Alexa St. John
- More and more deals are starting to hit electric cars these days.
- Discounts and incentives will make the cost of EVs more affordable for the masses.
Dealers are starting to take thousands of dollars off the price of their electric vehicles.
As the auto industry scrambles to recover from overestimating EV demand this year, more electric cars are on dealer lots. It's taking longer for dealers to sell those vehicles than their gas-powered counterparts.
While that's to be expected as any new product makes its way to the market, automakers are getting antsy about the build-up. With dealers paying more in floor plans to hold excess inventory amid today's high interest rates, buyers are in luck.
Some of the most popular EVs are now being dropped hundreds and even thousands of dollars below sticker price (known as MSRP) at the dealership, according to Edmunds data provided to Insider — all in an effort to stoke demand.
In September, the average discount off sticker for a vehicle overall was just 1.9% (or roughly $928). Though the auto retail market is recovering after the supply-and-demand crunch seen during the pandemic, cars are generally selling at MSRP or just barely below.
On the flip side, dealership markdowns for some EVs were as high as 12%, Edmunds said. That means some EVs were transacting for anywhere from 1% to 12% less than what they were listed at.
That can be significant given electric cars, on average, went for $50,683 last month, per Kelley Blue Book data.
In addition to that, EVs are seeing an average of 9.8% in automaker incentives off the ATP, according to Kelley Blue Book — bringing many of these EVs even lower than this.
Here's a look at 20 EVs selling below sticker price, and for how much (not including additional manufacturer incentives, which reached their highest levels recently).
Interestingly, some EVs, like the GMC Hummer EV, Cadillac Lyriq, and Chevrolet Bolt sold with slight markups over MSRP in September, according to Edmunds data.
Direct-to-consumer brands Tesla, Rivian, and Lucid are not included in the below, as this data is not shared.
Audi e-tron GT
Average sticker price: $118,777
Average transaction price: $111,542
Average discount: 6.1% or $7,235
BMW i4
Average sticker price: $64,598
Average transaction price: $62,353
Average discount: 3.5% or $2,245
Ford F-150 Lightning
Average sticker price: $78,116
Average transaction price: $76,725
Average discount: 1.8% or $1,391
Ford Mustang Mach-E
Average sticker price: $56,895
Average transaction price: $55,909
Average discount: 1.7% or $986
Genesis GV60
Average sticker price: $66,896
Average transaction price: $65,046
Average discount: 2.8% or $1,850
Hyundai Ioniq 5
Average sticker price: $53,879
Average transaction price: $52,993
Average discount: 1.6% or $886
Hyundai Ioniq 6
Average sticker price: $52,049
Average transaction price: $51,465
Average discount: 1.1% or $584
Hyundai Kona Electric
Average sticker price: $38,323
Average transaction price: $37,451
Average discount: 2.3% or $872
Kia EV6
Average sticker price: $56,748
Average transaction price: $54,917
Average discount: 3.2% or $1,831
Kia Niro EV
Average sticker price: $43,918
Average transaction price: $42,685
Average discount: 2.8% or $1,233
Lexus RZ 450e
Average sticker price: $64,407
Average transaction price: $61,758
Average discount: 4.1% or $2,649
Mercedes-Benz EQB
Average sticker price: $63,337
Average transaction price: $59,570
Average discount: 5.9% or $3,767
Mercedes-Benz EQE SUV
Average sticker price: $87,179
Average transaction price: $81,146
Average discount: 6.9% or $6,033
Nissan Ariya
Average sticker price: $51,912
Average transaction price: $49,654
Average discount: 4.3% or $2,258
Nissan Leaf
Average sticker price: $33,745
Average transaction price: $32,926
Average discount: 2.4% or $819
Porsche Taycan
Average sticker price: $139,575
Average transaction price: $137,352
Average discount: 1.6% or $2,223
Toyota bZ4X
Average sticker price: $49,387
Average transaction price: $48,191
Average discount: 2.4% or $1,196
Volkswagen ID.4
Average sticker price: $50,694
Average transaction price: $47,812
Average discount: 5.7% or $2,882
Volvo C40 Recharge
Average sticker price: $61,419
Average transaction price: $55,498
Average discount: 9.6% or $5,921
Volvo XC40 Recharge
Average sticker price: $60,998
Average transaction price: $53,241
Average discount: 12.7% or $7,757
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