Five New EVs Experiencing Significant Price Reductions in 2026

As reported by CarEdge, prices for new vehicles are anticipated to increase by around 2% to 4% in 2026, suggesting that it might not be an ideal time for purchasing a new vehicle. In contrast, projections indicate that EV prices could decline by 3% to 8% as federal incentives come to an end in the latter half of 2025. This raises the question: is 2026 a favorable year for buying an EV? The answer ultimately hinges on the specific model you’re considering.

While the overall auto market is tightening, the EV sector is presenting a contrasting narrative, as numerous automakers strive to offload excess inventory and attract buyers who will no longer benefit from a $7,500 federal tax credit. If price reductions are a priority for you, you may be pleased to learn that many electric vehicles are seeing significant markdowns for the year 2025.

For instance, near the end of 2025, Tesla reduced the price of the Model Y by approximately $5,000, while GM lowered the Chevrolet Equinox’s price by $4,000. However, these reductions are minor compared to some luxury brands, which have implemented ten-thousand-dollar price cuts on select electric vehicles. Below are five electric vehicles showcasing the most notable price reductions in 2026.

After experiencing the Maserati Gran Turismo Folgore, we found it to be an impressive foray into the brand’s electric future, boasting rapid acceleration, enjoyable handling, and a well-balanced ride. The unique “T-Bone” battery configuration enhances the vehicle’s handling precision, and despite its weight, it exhibits solid acceleration without the feel of unsteadiness common in some other electric vehicles. Despite its allure, it seems it hasn’t struck a chord in the market.

CarsDirect has reported that Maserati has directed its dealers to offer discounts of up to $85,000 on the new coupe and convertible Folgore models, marking a staggering 43% reduction on a new vehicle. As a result, the electric Gran Turismo Folgore is now more affordable than its gas-powered sister, the Modena.

It’s uncertain if this action is a temporary measure or a permanent shift for the Folgore. Nevertheless, Maserati is currently facing challenges, evidenced by a significant drop in sales, having sold only 7,900 units in 2025, a sharp decline from 11,300 in 2024 and a staggering drop from 26,600 in 2023.

Interestingly, the Grecale Folgore is not the only Maserati enjoying significant price reductions this year. The Grecale Folgore, which serves as the brand’s entry-level model replacing the Ghibli, Quattroporte, and Levante, has also seen substantial markdowns. Our experience driving the 2025 Maserati Grecale Folgore revealed it to be speedy but hindered by its heavy battery setup, which restricts its agility compared to both its internal combustion engine variant and other competitors in the compact SUV class.

The Grecale boasts an estimated EPA range of 245 miles, a notable improvement over the Gran Turismo. Unfortunately, this hasn’t sufficiently boosted sales, leading Maserati to reportedly instruct dealers to apply a discount of $40,000 on the model. With an MSRP of $121,290, this roughly translates to a 33% reduction.

In a wider view, both 2024 and 2025 were tumultuous for Maserati, culminating in the dismissal of its then-CEO, Davide Grasso, who reportedly struggled to effectively position the brand. Maserati has faced challenges in the past, and it remains unclear how its parent company, Stellantis, plans to revitalize the brand moving forward.

The EQ lineup from Mercedes is regarded as one of the most extensive ranges of electric vehicles from any manufacturer. Having entered the EV market earlier than many rivals, Mercedes has developed a robust portfolio, boasting over a dozen models, including the flagship EQS SUV. Our review of the EQS SUV affirmed its luxury credentials, noting its comfort, refinement, and smooth performance.

While the EQS SUV stands out as a deluxe offering, the high-end EQS 680 Maybach is even more commanding. However, potential buyers now face a daunting reality: a $50,000 price drop on the model could turn a high-end purchase into a financial shock for those who bought it prior to the discount.

Currently, buyers can enjoy a 27% markdown when purchasing an EQS 680. Additionally, reports from KBB highlight the rapid depreciation of the model, claiming it loses 41% of its value within the first two years—translating to over $74,620 lost in equity and resulting in an average loss of more than $100 every single day of ownership.

Upon searching the market for the least expensive hybrid SUV available in 2026, we discovered that the Kia Niro stands out. The entry-level variant of the Niro hybrid is priced at $28,885, including destination fees, showcasing Kia’s intent to remain competitive. However, the situation is quite different for the Kia Niro EV. Although it remains the least expensive Kia EV, its MSRP is just shy of $40,000.

Kia initially offered an $8,500 discount on the Niro EV, which has now increased to $10,000, effectively lowering a quarter of its MSRP. This strategic pricing adjustment brings it closer to the hybrid variant’s price point. Furthermore, this discount trend isn’t isolated to the Niro EV; it extends across Kia’s entire electric vehicle lineup, underscoring declining sales and the growing popularity of EVs.

In addition to the Niro, the Kia EV6 experienced a 23% reduction, while the EV9 witnessed an 18% drop in its original MSRP. Beyond just price reductions, Kia is also offering appealing financing and leasing incentives across its EV collection, including a 0% APR, a $2,500 bonus, and an enticing $16,000 cash incentive for the Kia EV6 GT. Such offerings have been described by Autoblog as “one of the best EV lease deals currently available in the country.”

To further support the growing interest in electric vehicles, discounts are surfacing not only in the high-end segments but also among the more affordable options. For instance, the Hyundai IONIQ 5 ranks among the top-selling electric vehicles in the U.S. Our evaluation of the IONIQ 5 highlighted its appealing design, impressive torque, advanced technology features, and remarkable versatility, making it a great buy.

In light of the expiration of the $7,500 federal EV tax credit at the end of 2025, Hyundai announced price reductions of $7,600 to $9,800 for the upcoming model year. According to CarsDirect, this constitutes an 18% decrease from the pricing of the 2025 model. In an official press release, Hyundai confirmed this move as a strategy to “better align with current market dynamics.” However, the overall scenario is slightly more complex than it appears at first glance.

At the time of this announcement, the outgoing 2025 IONIQ 5 was receiving an $11,000 rebate, making it the more attractive choice temporarily. Regardless, the 18% MSRP reduction for the 2026 model is confirmed as a long-term adjustment, marking one of the most significant pricing strategies seen in the EV sector this year, especially for such a widely respected model.