Kia and Genesis Offer Steep Discounts on Electric Vehicles
Kia and Genesis have joined the growing number of automakers providing attractive discounts on electric vehicle (EV) models. Genesis is offering a $7,500 rebate on select EVs, including the GV60 and GV70 Electrified. These incentives bring the starting price of the GV60 down to just $45,850 and the GV70 Electrified to $60,300 (including destination).
Kia, known for its competitive pricing, is offering a $7,500 rebate on the EV9 SUV. This SUV starts under $55,000, and the rebate effectively reduces the price to $48,895 (including destination). Kia’s pricing strategy is aimed at shaking up the EV market and generating strong demand for its first three-row electric SUV.
Genesis Expands EV Lineup, Outpaces Luxury Brands
Genesis has been rapidly expanding its EV lineup in the US, outperforming most luxury brands. The brand launched its first EV in the US, the EV60, in May 2022, and sales have soared since then. Genesis has added the Electrified GV70 SUV and G80 sedan to its EV lineup, bolstering its presence in the growing electric vehicle segment.
The brand’s commitment to an all-electric future is paying off, with Genesis selling 6,403 electric vehicles in the US last year, representing a 283% increase over 2022. This growth surpasses that of established luxury brands like Lexus and Lucid.
Automakers Embrace EV Transition
Kia and Genesis are among several automakers embracing the transition to electric vehicles. BMW, Tesla, Hyundai, and Ford, among others, have also announced price cuts on their EVs to stimulate sales and encourage consumers to adopt electric transportation.
This wave of discounts reflects the growing competition in the EV market and the auto industry’s recognition of the need to accelerate the adoption of electric vehicles. With more affordable pricing options, consumers are likely to consider electric vehicles more seriously, leading to increased EV penetration on the roads.
