EV price drops, verified

Every entry is a manufacturer MSRP change with a date and a source. Dealer discounts, lease specials, and "up to" offers don't count — those move weekly and we'd be lying if we presented them as price cuts. Updated October 2026.

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Questions, answered

Why are EV prices dropping?

Competition, scale, and US production. Hyundai credits its Ioniq 5 cuts to building cars at Metaplant Georgia instead of importing them. Tesla uses new decontented trims to lower entry prices without cutting existing ones. The pattern: as factories scale, MSRPs fall.

Should I wait for prices to drop further?

If you need a car now, buy now — cuts are unpredictable and model-specific. If you're flexible, late-model-year clearance (fall) is historically when manufacturers move metal. Track this page.

Do price drops affect used EV values?

Yes — directly. When a new Model 3 gets $5,500 cheaper, every used Model 3 is worth less overnight. See our EV depreciation guide for which models hold value best.