EV Discounts Rise as Luxury Models See Deals over $7K, But Hybrids Still Outsell Electric Vehicles

EV discounts are increasing due to growing competition and consumer hesitation about the technology. Luxury EVs are seeing discounts over $7,000 in some cases.

Hybrids are much more popular than EVs currently, as the technology is more familiar to consumers. Hybrids are selling above sticker price while EVs sell below.

Tesla recently cut prices aggressively to maintain market share as more automakers enter the EV market.

Average EV sale price increased slightly over past year, but discounts grew much more, so buyers get more for their money.

With discounts and tax credits, some non-luxury EVs like the VW ID.4 and Nissan Ariya can cost about the same as gas vehicles.