Five New EVs With The Biggest Price Drops In 2026

According to CarEdge, new vehicle prices are expected to rise 2% to 4% in 2026, meaning that it may not be the best time to buy a new car. However, CarEdge also noted that EV prices are projected to fall 3% to 8% as federal incentives expired in the second part of 2025. This poses a question: Is 2026 a good year to buy an EV? The short answer is that it depends on what you’re buying.

The broader auto market may be tightening, but the EV segment is telling a very different story as many automakers scramble to clear inventory and win over buyers who no longer have a $7,500 federal tax credit softening the initial blow. With that in mind, if discounts are what you are after, we are pleased to report that many EVs received significant price cuts for 2025.

For example, at the tail end of that year, Tesla slashed Model Y prices by about $5,000, while GM discounted the Chevrolet Equinox by $4,000. However, although these discounts are indeed welcome, they pale in comparison to some more premium brands that discounted select EVs by five figures. Here are five new EVs with the biggest price drops in 2026.

When we drove the new Maserati Gran Turismo Folgore, we said that it is a strong first step for automaker’s electric future: It was extremely quick, fun to drive, and handled well. Maserati’s “T-Bone” battery layout allows for predictable handling, and even though the Fulgore weighs a lot, it can still spin up its wheels under acceleration and it does not feel as floaty as some other EVs do in the corners. However, regardless of all the bells and whistles, the market seems to not be overly fond of it.

CarsDirect recently reported that Maserati has instructed dealers to discount the new coupe and convertible Folgore variants by $85,000, while also noting that this is “the biggest discount we’ve seen on any new car, period.” This represents a 43% discount on a new Maserati. With that in mind, the electric Gran Turismo Folgore is now less expensive than its internal combustion counterpart, the Modena.

It must be said that it is unknown whether this is a short-term move or a permanent repositioning of the Folgore. Regardless, Maserati seems to be in a bit of a pickle lately, as the brand’s sales numbers took a sizable hit in 2025. With just 7,900 cars sold, the figure stands in stark contrast to 11,300 in 2024, and an even bigger drop from 26,600 in 2023.

Interestingly enough, the Gran Turismo Folgore is not the only trident-badged EV that is getting a big discount this year. The Maserati Grecale Folgore is the entry-level offering that replaced the likes of the Ghibli, the Quattroporte, and the Levante. When we drove the 2025 Maserati Grecale Folgore, we found it to be quite brisk, but also weighed down by its heavy batteries, so much so that it can’t keep up with its ICE variant and many other competitors from the compact SUV segment.

Overall, the Grecale has an estimated EPA range of 245 miles, meaning that it is better than the Gran Turismo. Regardless, this did not help dealers sell the Grecale, which is why the company reportedly instructed them to discount it by $40,000. Given its $121,290 MSRP, that is roughly a third off the price. Some reports are even suggesting Maserati is struggling so much with the Grecale that they are now trying to sell special editions to boost desirability.

Looking at the bigger picture, both 2024 and 2025 were very tumultuous years for Maserati, and it culminated by its then-CEO, Davide Grasso, being fired due to supposedly not being able to position the brand correctly. The brand overall has been on life support many times in recent decades, and it is unclear as to how brand owner Stellantis hopes to turn its luck around this time.

The Mercedes EQ range is arguably one of the most comprehensive lineups of electric cars from any brand on the market. Mercedes managed to enter the EV game earlier than some other German carmakers, meaning that its EQ line already consists of more than a dozen models. However, at the top of the EQ range sits the EQS SUV. When we reviewed the Mercedes EQS SUV in 2023, we found it to be comfortable, refined, smooth, and effortless to drive.

Overall, the EQS certainly succeeded as a luxury SUV. However, at the top of the range sits the EQS 680 by Maybach. Given how well the “standard” EQS manages luxury car things, you’d think that the EQS 680 Maybach would feel like a dream. In reality, maybe it actually does feel like a dream, but if you bought one and later realized Mercedes is now discounting them by $50,000, that dream could quickly turn into a nightmare.

This means that you can get a Maybach for 27% off. Even worse, KBB reported that the EQS 680 is a champion when it comes to depreciation because it loses 41% of its value in just the first two years. That’s a $74,620 drop in value, meaning that you’ll lose more than $100 every day of ownership. Indeed, it is a nightmare after all, at least in the financial sense.

When we looked through the market to find the cheapest hybrid SUV you can buy in 2026, we realized that the Kia Niro is the one. The entry-level variant of the Niro hybrid can be had for $28,885 with the destination charge included, meaning that Kia wants to make the Niro as competitive as possible. However, if we take a look at the Kia Niro EV, the situation is quite different. Overall, the Niro EV is indeed the cheapest Kia EV, but its MSRP is almost $40,000.

Kia first discounted the Niro EV by offering an $8,500 discount, but the brand recently bumped that up to $10,000, meaning that it basically took a quarter of the MSRP of the new Niro EV, bringing it closer to the price of the hybrid version. This is not just exclusive to the Niro; this discount is actually across Kia’s entire EV range, further emphasizing dwindling sales and the popularity of EVs.

As such, the Kia EV6 has been discounted by 23%, and even the EV9 “lost” 18% of its original MSRP. Besides the price, Kia is also offering very competitive finance and lease deals on its EV lineup. 0% APR, a $2,500 bonus, and even a $16,000 cash bonus if you fancy the Kia EV6 GT. All of this makes these incentives, according to Autoblog, “one of the best EV lease deals currently available in the country.”

To add more fuel to the EV fire, industry discounts are not just tied to expensive EVs, but also some of the more “affordable” makes and models currently available. For instance, the Hyundai IONIQ 5 is one of the best-selling EVs in the U.S., and when we drove the Hyundai IONIQ 5, it impressed us with its styling, torque, a techy interior, and great versatility. If any of these aspects excite you, now could be a great time to actually buy it.

Following the expiration of the $7,500 federal EV tax credit in late 2025, Hyundai officially announced MSRP reductions of $7,600 to $9,800 for the next model year. As CarsDirect noted, this represents an 18% price cut compared to the 2025 model. Hyundai confirmed the move directly via an official press release, stating the reductions were made to “better align with current market dynamics.” However, it is worth noting that, as CarsDirect pointed out, the picture is a little more nuanced than the headline suggests.

At the time of the announcement, the outgoing 2025 IONIQ 5 was simultaneously receiving an $11,000 rebate, which temporarily made it the cheaper option of the two. Regardless, the 18% MSRP reduction on the 2026 model is permanent, making it one of the more significant price repositioning moves any automaker has made in the EV space this year, especially for such a popular model.