Discounts on Electric Vehicles Are Ramping up as Sales Slump
By:
Pete Grieve
Pete Grieve
Reporter | Joined May 2024
Has also written:
See full bio
- The Share of Homes for Sale With Price Cuts Hit a 6-Year High
- Young Job Seekers Are Falling Victim to a ‘Money Mule’ Scam
- When Will the Fed Cut Rates? Cooling Inflation Builds Hope for September
- To Save Money on Insurance, Drivers Are Agreeing to ‘Incredibly Intrusive’ Monitoring Technology
- Why People Are Giving up on Buying Vacation Homes
Editor:
Brad Tuttle
Brad Tuttle
Senior Editor | Joined January 2014
Has also written:
See full bio
- Here’s Why a Gas Tax Holiday Isn't as Great as It Sounds
- Gas Prices Are Over $4 in Every State for the First Time
- 7 Strategies People Are Using to Combat High Gas Prices
- Gas Prices Just Passed $6 in a Major U.S. City for the First Time Ever
- Your State Taxes on Groceries, Income, Gas and More Could Soon Be Slashed
Getty Images
Electric vehicles are selling slowly so far in 2024 in a disappointment for automakers that were betting on a faster pace of adoption.
In response, manufacturers like Ford are cutting sticker prices on EVs by thousands of dollars, and the industry is offering large incentive deals to try to tempt more buyers.
In the first quarter of the year, electric vehicles made up a 7.3% share of all new U.S. car sales, a decrease from a share of 8.1% in the previous quarter, according to Kelley Blue Book data. It was the first time since 2020 that EV sales declined from one quarter to the next.
Ads by Money. We may be compensated if you click this ad.Ad
