New incentives and dealer discounts are making several electric vehicles much more affordable this season. This guide collects the most meaningful current discounts, explains how they work, and gives step-by-step advice for verifying and negotiating the best final price. It covers major models that frequently appear in promotions: Chevy Equinox EV, Hyundai Ioniq 5, Kia EV3, Leapmotor C10, Deepal S07, Smart EVs and a few Chinese-brand rivals appearing in Australia.
Why these discounts matter
Auto makers and dealers use price reductions to clear inventory, protect market share and respond to rising competition from newer, lower-cost EVs. For buyers this can mean thousands off MSRP, shorter wait times, and access to larger vehicles or longer-range trims at prices that used to be reserved for compact EVs.
However, advertised savings are not always straightforward. Understanding how discounts are structured, whether they interact with government incentives, and what they mean for long-term ownership value is essential before signing a sales contract.
Quick list: notable EV discounts (overview)
- Chevrolet Equinox EV (US) — large factory/dealer discounts reported on multiple trims, with some offers around $8,000 to $10,000 off on specific models.
- Hyundai Ioniq 5 (US) — national/multi-region incentives reducing prices by several thousand dollars on many trims.
- Kia EV3 (Australia) — drive-away reductions on base and mid-range trims; discounts vary by region and trim, often several thousand AUD off advertised drive-away price.
- Leapmotor C10 (Australia) — factory bonuses and dealer drive-away deals frequently totaling a few thousand AUD.
- Deepal / Deeple S07 (Australia) — cash-back and promotional offers, sometimes combined with free charging credits.
- Smart EVs (Australia) — large markdowns reported on certain variants, with reductions cited up to approximately $13,500 AUD on some models.
- XPeng G6 (Australia) — competitive long-range variants showing material discounts in some markets.
Understanding the different types of discounts
Not every discount is applied in the same way. Here are the common formats and what to watch for:
- Manufacturer cash: Direct reduction from the maker to the buyer or dealer. Usually reliable and transparent.
- Dealer discount: Price reductions negotiated at the dealership. Can vary widely between locations.
- Factory bonus/finance incentive: Lower rates or cash back tied to specific financing or lease programs.
- Drive-away pricing (Australia): An all-in price that includes on-road costs. Compare carefully to ex-showroom with separate on-road fees.
- Time-limited promotions: Seasonal campaigns or end-of-quarter push events. Good for timing negotiations but often limited in quantity.
Top current deals explained (model-by-model)
Chevrolet Equinox EV (United States)
The Equinox EV competes as a compact/mid-size crossover with competitive EPA range in base trims. Recent pricing activity includes sizeable off-invoice discounts on selected trims, notably higher-spec RS and mid-level LT trims. These discounts can drop the effective price well into the territory of smaller EVs, making the Equinox an attractive value proposition for buyers seeking range and interior space on a budget.
Hyundai Ioniq 5 (United States)
Hyundai has periodically applied incentives across the Ioniq 5 lineup. Discounts often appear on both standard-range and extended-range variants. When combined with dealer contributions and finance offers, out-the-door pricing can be substantially lower than MSRP, especially for remaining inventory of earlier model years.
Kia EV3 (Australia)
Kia’s newly introduced EV3 has shown drive-away reductions on some trims, with larger markdowns on the entry-level standard-range models and modest reductions on long-range variants. Buyers should focus on the long-range or mid-spec trims for the best balance of range and value, and double-check whether the advertised drive-away price includes dealer delivery and registration.
Leapmotor C10 (Australia)
Leapmotor has offered factory bonuses and drive-away pricing that lower the purchasable price by a few thousand AUD. These models often include modern features and a competitive cabin size relative to price. Verify the exact inclusions—warranty, roadside assistance and any charging credits—before committing.
Deepal S07 (Australia)
Deepal-branded crossovers have appeared with cash-back deals and promotions that include free public charging credits for a limited period. For buyers prioritizing range and battery size, these deals can be compelling compared with similarly priced rivals.
Smart EVs (Australia)
Smart has trimmed pricing across its small electric models, and select dealerships are listing significant savings on inventory models. These cars suit urban buyers who want a unique compact EV. Availability is limited by dealer footprint, so ask your local showroom about stock and any additional incentives.
XPeng G6 and other Chinese-brand rivals
Several Chinese manufacturers have aggressively priced long-range SUVs and crossovers in Australia. These models often bring high WLTP ranges, fast charging capability and generous feature lists for a lower price than established Western rivals. Discounted long-range variants can be excellent value if after-sales support, warranty terms and charging compatibility meet your standards.
How to verify whether a discount is real and worth it
- Get the detailed quote in writing: Ensure the quote shows MSRP, factory incentives, dealer discounts, and all charges (delivery, registration, admin fees). Look for a final out-the-door or drive-away price.
- Ask for the VIN or stock number: Verify the car being discounted is new, unsold inventory (not a demo with mileage you did not expect).
- Check the window sticker or Monroney label (US): Confirms standard equipment and official MSRP.
- Confirm warranty and battery guarantees: Promotional pricing should not reduce factory warranty terms; get any dealer-added warranties in writing.
- Compare multiple dealers and aggregator sites: Use at least three quotes to spot outliers.
- Verify government incentives separately: Federal or state incentives may have eligibility rules and separate application processes.
Practical negotiation checklist
Use this step-by-step checklist when negotiating an EV purchase:
- Get pre-approved financing and bring the offer to the dealer.
- Request a written itemized offer that includes all fees and discounts.
- Ask whether incentives are conditional (e.g., require specific financing) and for any expiration dates.
- Be prepared to walk away; dealers will often match offers to close a sale.
- Negotiate trade-in value separately from the new car price to keep comparisons clean.
- Confirm whether accessories or dealer add-ons are optional and their exact cost if you want them removed.
How discounts affect eligibility for government EV incentives
Government incentives differ by country and can change quickly. Important points to confirm:
- United States: Federal tax credits are tied to IRS rules and vehicle qualifications. A dealer discount does not change whether a vehicle meets the technical requirements for a credit, but some credits depend on MSRP thresholds, vehicle origin and buyer income. Consult the IRS guidance or a tax professional before assuming a specific tax benefit.
- Australia: Australia does not currently have a national point-of-sale rebate equivalent to the US federal tax credit. Instead, incentives are mostly state-level (registration discounts, stamp duty exemptions) or manufacturer promotions. Drive-away pricing can absorb typical on-road costs, but check whether state EV rebates apply after purchase.
- Other markets: Always verify local rules for point-of-sale rebates, tax credits or EV registration benefits; they can significantly affect the net cost.
Common pitfalls and mistakes to avoid
- Confusing drive-away vs ex-showroom: Drive-away should include registration and on-road costs; ex-showroom will not. Always compare like-for-like.
- Assuming discounts are national: Many promotions are regional or dealer-specific. Confirm stock and regional availability.
- Ignoring total cost of ownership: A low purchase price does not guarantee low running costs. Consider charging access, home charger installation, insurance and resale expectations.
- Overlooking battery chemistry and range claims: WLTP estimates (used in Australia/Europe) are higher than EPA ratings (US). Check the applicable test cycle to set expectations.
- Not checking warranty transfer rules: A large discount on a demo car might come with reduced warranty or pro-rated coverage—get this in writing.
Where to monitor and track the best EV deals
Stay updated using multiple sources:
- Manufacturer websites: Official incentives and national programs are listed here first.
- Automotive news sites: Regional outlets often report markdowns and dealer programs as they appear.
- Dealer websites and local aggregator portals: Drive-away offers and dealer-backed discounts show up here.
- Forums and social media groups: Real buyers often post screenshots of confirmed deals and contract terms.
- EV comparison tools: Aggregators that compare drive-away pricing can expose discrepancies between dealers.
Short buyer’s decision framework
Use this simple framework to decide whether a discounted EV is right for you:
- Need: Does the vehicle meet your real-world range, size and charging needs?
- Price: Is the final out-the-door price demonstrably lower than comparable models after incentives?
- Support: Does the dealer and manufacturer offer reliable service, warranty and software updates in your area?
- Ownership cost: Calculate insurance, electricity costs, maintenance and potential home charger/battery costs.
- Timing: If the discount is significant but inventory is limited, weigh the urgency vs waiting for the next model refresh.
Frequently asked questions
Will a manufacturer discount make me ineligible for government EV rebates?
Not usually. Government eligibility is based on vehicle specifications and buyer criteria; discounts do not change vehicle technical qualifications. However, some rebates depend on the purchase price or MSRP thresholds, so always confirm the specific program rules.
Are big discounts a sign of a bad car?
Not necessarily. Discounts often reflect manufacturer strategy—clearing inventory, adjusting to competitive pricing, or promoting a new model launch. Verify warranty, reliability reports and owner feedback to evaluate the vehicle itself.
Should I buy a discounted demo car?
Demo cars can offer great value but check mileage, warranty coverage and service history. Ensure any reduction is proportionate to usage and get everything documented.
How do WLTP and EPA ranges compare?
WLTP tends to report higher numbers than EPA. When comparing models across regions, convert expectations conservatively: a WLTP range figure will typically be optimistic compared with EPA. Consider real-world reviews and owner reports for practical range estimates.
Final checklist before signing
- Obtain a full written contract showing final out-the-door or drive-away price.
- Confirm VIN and vehicle condition if buying a dealer demo or showroom car.
- Verify warranty, battery coverage and roadside assistance inclusions.
- Ensure any advertised charging credits or free charging are explicitly documented.
- Keep a copy of all communications, offers and disclosures used during negotiation.
Takeaway
Significant EV discounts are available right now across a range of brands and markets, from compact city cars to long-range crossovers. The best deals combine transparent manufacturer incentives, dealer contributions and clear drive-away pricing. Always verify the details in writing, compare multiple offers, and weigh the purchase against total cost of ownership and after-sales support.
Use the verification checklist, negotiation tactics and decision framework in this guide to turn an attractive headline discount into a reliably low final price you can be confident in.