20 electric cars are selling below sticker price

Kia EV6 GT, Genesis GV60 and Hyundai Ioniq 5.
Tim Levin/Insider

  • More and more deals are starting to hit electric cars these days.
  • Rebates and incentives will make EVs more affordable for the masses.
  • Here are 20 electric cars with a big discount on the sticker price, according to Edmunds.

Dealers are starting to knock thousands of dollars off the price of their electric vehicles.

As the auto industry struggles to recover from this year’s overestimation of EV demand, more and more electric cars are on dealer lots. Dealers take longer to sell these vehicles than their gas-powered counterparts.

While this is to be expected, as each new product makes its way to market, automakers are beginning to worry about backlog. With dealers paying more for 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 their sticker price (known as MSRP) at the dealership, according to Edmunds data provided to Insider — all in an effort to spur demand.

In September, the average sticker discount for a vehicle overall was just 1.9% (or roughly $928). Although the auto retail market is recovering from the supply and demand crisis seen during the pandemic, cars are generally selling at or slightly below MSRP.

On the other hand, dealer discounts for some EVs are as high as 12 percent, Edmonds said. This means that some EVs have transacted for 1% to 12% less than what they were advertised for.

That may be significant, given that electric cars cost an average of $50,683 last month, according to Kelley Blue Book data.

On top of that, EVs see an average of 9.8% incentives for automakers from ATP, according to Kelley Blue Book — making many of these EVs even lower than that.

Here’s a look at 20 EVs that are selling below sticker price, and for how much (not including the additional manufacturer incentives that have hit all-time highs recently).

Interestingly, some EVs, such as the GMC Hummer EV, Cadillac Lyriq and Chevrolet Bolt, are selling at a slight premium over MSRP in September, according to Edmunds data.

Direct consumer brands Tesla, Rivian and Lucid are not included 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

Ford F-150 Lightning.
John Tlumaki/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

2023 Genesis GV60.
Genesis

Average sticker price: $66,896

Average transaction price: $65,046

Average discount: 2.8% or $1,850

Hyundai Ioniq 5

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

Let the EV6

Average sticker price: $56,748

Average transaction price: $54,917

Average discount: 3.2% or $1,831

Kia Niro EV

2023 Kia Niro EV.
Come on

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

Mercedes-Benz EQB 350.
Tim Levin/Insider

Average sticker price: $63,337

Median transaction price: $59,570

Average discount: 5.9% or $3,767

Mercedes-Benz EQE SUV

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

Average sticker price: $87,179

Average transaction price: $81,146

Average discount: 6.9% or $6,033

Nissan Aria

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

2023 Porsche Taycan.
Porsche

Average sticker price: $139,575

Average transaction price: $137,352

Average discount: 1.6% or $2,223

Toyota bZ4X

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 fully 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 Recharging

2022 Volvo C40 Recharge.
Volvo

Average sticker price: $61,419

Average transaction price: $55,498

Average discount: 9.6% or $5,921

Volvo XC40 Recharging

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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