- The federal government’s $7,500 electric vehicle tax credit is gone, but many automakers are replicating it on their own
- Kia is the latest with a huge price drop — up to $10,000 off most electric models
The federal government’s $7,500 electric vehicle (EV) discount disappeared at the end of September, but some EVs are less expensive now than they were when it was available. Several manufacturers have come up with discounts on their own that are at least as generous as the shuttered federal program.
Kia may be the most aggressive. The automaker has launched a discount program taking $10,000 off the price of many of its electric models.
Kia’s $10,000 Customer Cash discount works on 2025 editions of the Kia Niro EV and EV6, and the 2026 version of the 3-row EV9. Unlike the federal rebate, Kia restricts it to “well-qualified buyers.” Kia offers it only on models available on dealer lots today – it won’t work on custom orders.
A restrictions page says the offer ends today, but we expect Kia to extend it shortly, as all three models are still well-stocked on dealer lots.
Kia is just the latest automaker to offer dramatic EV discounts. BMW, Stellantis, General Motors, and Ford have all run programs to match the expiring discount.
Despite the programs, EV sales fell dramatically after the federal program ended. The average EV still sells for about $9,000 more than the overall average new car price.
