Ever dreamt of owning an electric vehicle (EV), dealers and manufacturers are rolling out substantial discounts, making 2024 an opportune time for prospective buyers.
The trend began last summer when an excess of EVs accumulated on dealer lots, prompting industry leaders like Elon Musk to aggressively discount popular models such as the Tesla Model 3 and Model Y.
According to data from Kelley Blue Book, by the end of last year, electric cars experienced unprecedented discounts, with average EV incentives soaring from 2% to 9.8% of average transaction prices within just a year.
These discounts persist into the new year, with the most substantial price cuts observed in the higher-end models.
- Mercedes-Benz EQE SUV
- Average transaction price: $82,171
- Sticker price: $92,173
- Average discount: $10,002
- BMW i7
- Average transaction price: $126,307
- Sticker price: $135,456
- Average discount: $9,194
- Volvo C40 Recharge
- Average transaction price: $52,701
- Sticker price: $61,647
- Average discount: $8,946
- Porsche Taycan
- Average transaction price: $127,700
- Sticker price: $134,314
- Average discount: $6,614
- Lexus RZ 450e
- Average transaction price: $59,746
- Sticker price: $64,238
- Average discount: $4,492
- Audi Q8 e-tron
- Average transaction price: $80,963
- Sticker price: $85,367
- Average discount: $4,404
- Volkswagen ID.4
- Average transaction price: $47,593
- Sticker price: $50,874
- Average discount: $3,281
- BMW i5
- Average transaction price: $81,466
- Sticker price: $84,670
- Average discount: $3,204
- BMW i4
- Average transaction price: $61,821
- Sticker price: $64,973
- Average discount: $3,152
- Hyundai Ioniq 5
- Average transaction price: $50,944
- Sticker price: $54,002
- Average discount: $3,058
With these enticing discounts, the electric vehicle market is poised to make a significant impact on consumers’ choices in 2024.
