As Electric Vehicle Sales Dip, Deep Discounts Begin To Appear On Leaf, Bolt, Ioniq and Model 3
Electric vehicle sales have hit a speed bump in America as well as other key markets such as China. In July, sales of EVs in both of these important markets declined compared to recent months, and also compared to July of 2018. There is no question sales have slowed. This slowdown, along with constantly changing and improving models, means that deals are available. And you may be surprised that the deals are not just on low-volume models, but are even available on Tesla's popular Model 3. Here is a quick rundown on deals we have uncovered and where shoppers should look for the best prices. Just to be perfectly clear, these discounts are on top of the already amazingly generous federal and state incentives.
Mitsubishi Outlander PHEV $3,712 Discount
The Mitsubishi Outlander PHEV is one of our favorite EVs. We have tested it in winter and found that it worked great in real-world conditions. The Outlander PHEV has many great features such as fast charging capability and all-wheel drive. This crossover has two rows and ample storage room. The Outlander also earns top IIHS safety scores. Mitsubishi dealers are presently running a discount program offering not just money off of the sticker price (Which starts around $37K), but also zero-percent financing for 72 months! To get this deal, start with your local Mitsubishi dealer. Be sure you first find out what incentives are available from your state. The Outlander PHEV qualifies for $5,836 in federal tax credits for those buyers who can take advantage of them. We didn't have to look hard to find this deal. It was offered to us by the Mitsubishi dealer in our own town! (Cornerstone Mitsubishi, Wilmington, Mass) You can view the deal at the Mass Drive Green Website and it runs through September 3.
Chevrolet Bolt $13,250 Discount
The Chevy Bolt will soon receive an update that adds a bit of range. If the standard range of 238 miles is enough for you, check out the 2019 Bolt. Dealers are offering five-figure discounts on Bolts. The best we found was $13,250 off the price from Quirk Chevrolet, in Braintree, Mass. Bolts are costing customers under $20K after discounts, rebates, and tax incentives in some states.
Nissan Leaf $5,154 Discount
If you are in the Northeast and looking for a new Leaf you may be sad to find out that a $5K rebate from a local utility has just ended. Fear not! Dealers have picked up the discounting and one, Stateline Nissan in East Providence, RI, is offering $5,154 off the price. If you live in Rhode Island you also get a $1,500 rebate. On top of all of this is a full $7,500 federal tax deduction if you qualify. That means new Leafs cost buyers under $20K in that state. Check your local dealers for local deals near you. With the new longer-range Leaf now available, the standard range Leafs are perfect discount targets. The Nissan Leaf is down to about one-third its prior sales rate. You can bet Nissan wants to make a deal. The DriveGreen website also handles Rhode Island, so finding deals and comparing them is super easy.
Hyundai Ioniq EV $1,703 Discount
Perhaps you have heard the myths that Hyundai and Kia EVs are selling at above sticker price? We call baloney on that, but we can say with high confidence that the Ioniq EV is costing customers in Mass. under $20K after all of the incentives are tallied. One dealer in Arlington, Mass. is taking $1,703 off the price. After the full $7,500 federal tax credit and other local rebates, Mass Drive Green has Ioniqs listed at under $20K. Here's something to remember; Hyundai says on its sales website that it will pay you $50 to test drive an Ioniq Electric. Be sure to ask for that!
Tesla Model 3 $2,330
You must have heard by now that Elon Musk has abandoned his mandate that all new Teslas should sell at full price. That went out the window earlier this year. In March, your author was offered a discount on a new, never-driven Model 3 LR AWD trim in stock available for immediate delivery.
That's right, Model 3 cars in stock, no need to order. Tesla's Dedham, Mass. sales outlet (it's a Tesla direct-owned dealership) offered your author $2,330 off of that specific car, and other deals on new, never-driven Teslas were available.
Tesla's sales in America have declined by double digits in the past couple of months. Tesla says it is shifting inventory to other markets, which is true. The discounting also speaks volumes about demand. Check with your local Tesla dealer, design center, showroom, or whatever the name is in your area for the place that sells Teslas. Get on the e-mail list. They will contact you for test drives and deals.
We also suggest checking out the two Tesla discount clubs on Facebook. They are called Tesla Showroom Deals and Tesla Hidden Showroom Deals.com, and there is also a page on FB called Tesla Showroom Deals. These are big clubs. In total there are about 6,000 active members. Please don't pay full price for a Tesla. The minute you join the fan club and post your welcome image you are going to feel bad about it when other members post up the same car bought for less.
Although manufacturers are limiting inventory in many areas and shifting inventory to areas that buy more EVs, there are many places where EVs are hot and deals still exist. We wish you happy hunting.
See you in my next story titled: Jeep Still Has 2018 Wranglers For Sale And Wants To Make A Deal.
In addition to covering green vehicle topics, John Goreham covers safety, technology, and new vehicle news at Torque News. You can follow John on Twitter at @johngoreham.