Electric Vehicle Prices Drop as Dealer Discounts Increase

More electric vehicles are being discounted below MSRP as dealers try to sell excess inventory. Some EVs are being sold for 1-12% below sticker price.

Popular EVs like the Kia EV6, Hyundai Ioniq 5, and Volvo XC40 Recharge are seeing discounts of 3-13% off MSRP.

Higher interest rates mean dealers are paying more to hold unsold EV inventory, so they're motivated to discount vehicles.

In addition to dealer discounts, automaker incentives on EVs reached record highs recently, lowering prices further.

As the EV market matures, deals and incentives should help make electric vehicles more affordable for mainstream buyers.