Not just Tesla: Here are other car brands that have implemented deep discounts this year

When Tesla started increasing the MSRPs of its electric vehicles out of nowhere and for no good reason, we looked into it and concluded that it was just a strategy. This smart move helped the brand deal with industry-specific challenges. Basically, I tried to curb demand because manufacturing had become too complex.

But not having many cars to sell is not something you want to do as a for-profit car company. So, Tesla was able to put its affairs in order, increased production, and was forced to resume the process of convincing people to buy its units. After offering some incentives that became more attractive as the semesters ended, they did the most obvious thing and reduced their acquisition costs significantly.

The most notable downward price trend came earlier this month when the cool-looking Model

The Model S, Model Y, and Model 3 get their own discounts, too. Federal, state, local, and utility company incentives for electric vehicles, coupled with rising gas prices, have more and more Americans considering purchasing a zero-tailpipe-emissions vehicle that can be charged either at home or faster with a reliable and convenient supercharger.

What’s more, the prospect of barely-there battery-powered electric cars hitting the secondary market at huge discounts has helped Americans in need of wheels make the decision to buy a Tesla much easier.

But the known Eve The maker wasn’t the only one cutting prices this year. RealCarTips analysis published on Twitter (X) showed that the following models have become cheaper since the beginning of 2023:

• Dodge Durango – was $44,440, now $36,899 (-17.4%);
• Hyundai Ioniq 5 – was $49,186, now $41,315 (-16.2%);
• Dodge Charger – was $40,642, now $34,559 (-15.4%);
• Kia EV6 – was $45,574, now $39,048 (-14.5%);
• Dodge Challenger – was $35,265, now $30,755 (-13.1%).

Other notable reductions were applied to the Ford Edge (-12.5%), Kia Niro EV (-12.1%), and Volvo XC40 Recharge (-11.1%).

This practice must continue because inflation is still out of complete control, and many Americans face the prospect of having their cars repossessed due to missed car payments.

Lenders are also approving fewer loans, and some entities are going out of business. The auto industry may have to face a completely different reality soon enough unless something tangible changes.

But if you’ve been waiting to get a brand-new car, now might be a good time to start exploring options at brands that make low-demand units. So, definitely don’t ask Porsche for a great deal.