Electric vehicles (EVs) are designed to save fuel and reduce emissions, but the initial cost of purchasing them is not cheap. According to Kelley Blue Book, new EVs cost an average of $55,689. Some, for example, in 2025 Mercedes-Benz EQS SUV, starting price is six figures.
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This does not mean that the dream of owning an electric car is out of reach. If you’re in the market for electric cars, here are five vehicles that could see a big price drop in the coming months.
Tesla (Models S, Y, X and 3)
According to iSeeCars research, in 2024 electric car prices fell more than 24 percent, with Tesla falling the most of any electric car maker. The cars with the biggest price declines were the Tesla Model S and Model Y, both down 12.3% year-over-year (yoY). The Model X wasn’t far behind, with a 12.1% year-over-year price drop.
Here is the average price of these three vehicles in 2025. in July and price drop over the year:
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Model S – $47,416 average ($6,662 decrease)
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Model Y – $29,141 average ($4,071 decrease)
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Model X – $50,392 average price ($6,950 down)
The Tesla Model 3 also fell, but only by 4.3 percent. Still, if recent trends continue, prices for Tesla vehicles could continue to drop sharply. Wait long enough, and while the federal tax credit may be gone, you can still save money in the long run.
in 2025 Cadillac Lyriq
The Cadillac Lyriq is one of the best luxury electric SUVs out there, but its prices have already been slashed. in 2024 The price of the model starts at $58,590, and in 2025 model starts at $60,090, which is just $1,500 more.
Perhaps more importantly, in 2026 the model starts at $60,695. It’s almost no different. As dealers clear out inventory of last year’s models, prices on new or near-new Cadillac Lyriqs may be reduced until next year.
Audi Q4 and-tron
The Audi Q4 e-tron is a fully electric SUV. in 2025 the model starts at $49,800. However, this is already less than in 2024. model that started at $55,200.
This price drop can be attributed to a number of things, including other competitors producing electric cars with longer range and faster charging. The Audi Q5 (Hybrid) is also comparable in terms of overall rating and specifications, but with a starting price of just $40,328. When these tax incentives disappear, the manufacturer may have to lower the prices of its electric cars slightly to compete with other models.
Chevrolet Bolt EV
The price of the Chevrolet Bolt EV is already low enough compared to other cars on the market, but it could become even cheaper as dealers start to prepare for the latest model.
Currently, the average 2025 The Chevrolet Bolt has a starting price of $44,600, according to US News & World Report. That’s $4,200 less than the 2024. model.
However, according to Car and Driver, it is expected that by 2027 The Chevrolet Bolt will cost just under $35,000. In that case, older versions are likely to drop even more.
Ford Mustang Mach-E
While the price drop for the 2025 Ford Mustang Mach-E isn’t the biggest, the average price is lower than last year’s model. These vehicles are priced at $36,995 and $39,995 respectively.
According to Cox Automotive, the Ford Mustang Mach-E is one of the top five best-selling electric cars in the country. But as other models enter the market, Ford may have to cut prices further to stay competitive, especially with brands like Tesla.
Editor’s Note: Prices are accurate as of 2025. October 23 Prices and availability may vary by location.
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