Although sales of electric cars are rising, with as many as 15 new models hitting the market this year, the biggest festival is reducing its transaction values. Led by Tesla’s recent price cuts on its most popular models, the Model 3 and Model Y, Cox Automotive reports that the average value of outdoor electric vehicles has risen from $65,000 a year ago to $50,683.
In addition to source and demand forces, recent declines in the price of electric vehicles are further driven by a welcome increase (at least for investors) in automakers’ incentives, i. e. , cash rebates and other offers on models that would otherwise be ineligible for origin. and apply for temporary federal tax credits of $7,500. Last month, those spiffs accounted for 9. 8% of the segment’s average transaction value.
How attractive are EV deals from automakers these days?Savvy buyers can recoup money as lucrative as $20,000 for the Audi RS e-tron GT.
We’ve compiled a list of the cash rebates introduced this month on some of the most sought-after electric cars, trucks, and SUVs. Most are smart until the end of the month. Also keep in mind that many brands that are otherwise exempt from the federal tax credit, such as BMW, Genesis, Hyundai, Kia, and a few others, are taking advantage of a loophole in the law that allows them to grant those leases, rather than buy them: a $7,500 cash bonus for electric vehicles to help reduce monthly bills and/or expenses.
And, as always, keep in mind that new auto reimbursement systems are being spread across the region to address local source and application issues, and more deals will be offered to recent school graduates and the military. So be sure to check the internet sites of car suppliers. Brands and retailers in the touch domain to see what’s on offer locally.