If you haven’t been paying attention, the great EV revolution has moved over to the right lane. Inventories are high, prices are plummeting and even Tesla has had to trim its sails. The good news is there has never been a better time to go all-electric. And, there has never been a better selection of modern EVs to choose from. Follow along and we’ll show you 10 deeply discounted EVs on sale right now, based on a report by Autoblog.

Why is There a Fire Sale on EVs?

Soft consumer demand: As the market for electric cars populates, the demand from early adopters and enthusiasts has been satiated. This means that dealers and manufacturers have to sharpen their pencils to attract more average car buyers.

Shrinking cash on the hood: The federal tax credit of $7,500 for electric vehicles is gradually phasing out for some brands, such as Tesla and GM. This means that buyers have to pay more upfront for these vehicles unless they can find other discounts or rebates.

Crowded arena: The electric car market is getting more competitive, with new models and brands entering the scene. This creates more options for buyers, but also more pressure for sellers to offer competitive prices and features.

Volkswagen ID4

10 Deeply Discounted EVs

These are the 10 electric cars that have the highest discounts in 2024, based on the percentage of the average transaction price. Most are all high-margin luxury cars with only the Hyundai and VW attainable by mere mortals. Remember, automotive discounts are always on slow sellers. This list is a good barometer of the current state of the luxury EV market more than anything else.

• Mercedes-Benz EQE SUV: 18.6%
• BMW i7: 17.9%
• Volvo C40 Recharge: 16.8%
• Porsche Taycan: 15.5%
• Lexus RZ 450e: 14.7%
• Audi Q8 e-tron: 14.2%
• Volkswagen ID.4: 13.9%
• BMW i5:                 13.7%
• BMW i4:                 13.4%
• Hyundai Ioniq 5:  12.9%

Porsche Taycan

How to Find the Best Deals on an EV

Check online: You can use online tools and websites, such as Autoblog, Edmunds, or Kelley Blue Book, to find the latest prices, discounts, and incentives for electric cars in your area. You can also read reviews and ratings from experts and customers to learn more about the pros and cons of each model.

Shop around: Don’t settle for the first offer you see. Visit different dealerships and compare their prices and services. You can also negotiate with the salesperson to get a better deal or ask for additional perks, such as free maintenance, extended warranty, or accessories.

Time your purchase: Some times of the year are better than others for buying an electric car. For example, you might find more discounts and incentives at the end of the month, quarter, or year, when dealers are trying to meet their sales goals. You might also find more deals during holidays, such as Black Friday, Memorial Day, or Labor Day.

Mercedes-Benz EQE SUV

Bottom Line

The EV movement may have moved in the right lane but we think that will switch back to the fast lane soon. The siren song of the electric car still entices. Zero gas consumption, reduced carbon footprint, and a jet-smooth ride remain attractive to car buyers. Additionally, electric cars are even more attainable if you take advantage of the discounts and incentives available right now.