Sunday, April 14, 2024
Cars

20 electric cars selling below sticker price


The Kia EV6 GT, Genesis GV60, and Hyundai Ioniq 5.
Tim Levin/Insider
  • 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. 
  • Here’s 20 EVs discounted heavily from sticker price, according to Edmunds.

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

The Ford F-150 Lightning.
John Tlumacki/Getty Images

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

The 2023 Genesis GV60.
Genesis

Average sticker price: $66,896

Average transaction price: $65,046

Average discount: 2.8% or $1,850

Hyundai Ioniq 5

The 2023 Hyundai Ioniq 5.
Hyundai

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

Hyundai Kona Electric.
Hyundai

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

The 2023 Kia Niro EV.
Kia

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

The Mercedes-Benz EQB 350.
Tim Levin/Insider

Average sticker price: $63,337

Average transaction price: $59,570

Average discount: 5.9% or $3,767

Mercedes-Benz EQE SUV

The 2023 Mercedes-Benz EQE 500 4MATIC SUV.
Tim Levin/Insider

Average sticker price: $87,179

Average transaction price: $81,146

Average discount: 6.9% or $6,033

Nissan Ariya

The 2023 Nissan Ariya.
Nissan

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

The 2023 Porsche Taycan.
Porsche

Average sticker price: $139,575

Average transaction price: $137,352

Average discount: 1.6% or $2,223

Toyota bZ4X

The 2023 Toyota bZ4X AWD Limited.
Tim Levin/Insider

Average sticker price: $49,387

Average transaction price: $48,191

Average discount: 2.4% or $1,196

Volkswagen ID.4

Volkswagen ID.4 all-electric model
Courtesy of Volkswagen AG

Average sticker price: $50,694

Average transaction price: $47,812

Average discount: 5.7% or $2,882

Volvo C40 Recharge

2022 Volvo C40 Recharge.
Volvo

Average sticker price: $61,419

Average transaction price: $55,498

Average discount: 9.6% or $5,921

Volvo XC40 Recharge

2021 Volvo XC40 Recharge.
Volvo

Average sticker price: $60,998

Average transaction price: $53,241

Average discount: 12.7% or $7,757



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