With Tariffs Looming, Automakers’ EV Incentives Are Booming

Though Kelley Blue Book reports that while new-vehicle transaction prices once again rose last month to a national average of $48,907, full-electric car, truck and SUVs are becoming more affordable. Year over year, new EV prices have dropped by 2.8%, with automakers’ cash, lease and financing incentives becoming more plentiful and valuable, now averaging more than $8,400 per vehicle.

There’s also a heightened sense of urgency in play as the one-time $7,500 federal tax credit/rebate on 15 still-eligible EVs is set to expire on September 30 as part of the recently passed budget bill. That’s likely to further erode EV sales and leases, as a recent Cars.com survey found that 53% of current EV owners considered the tax rebate to be a major factor in their buying decisions.

As it now stands the credit can only be claimed by income-qualifying buyers on a relative handful of EVs that meet certain requirements for domestic production and are priced under $50,000 for passenger cars and $80,000 for trucks, vans and SUVs. Some automakers have managed to exploit a loophole in the legislation that passes all or part of the incentive to those who lease an EV that otherwise doesn’t qualify for the credit.

In addition, it’s yet to be seen to what extent Trump’s tariffs will ultimately affect the sticker prices on both imported models and those built in the U.S. with parts and systems built elsewhere on the globe. Some brands have already announced they’ll be standing ground on retail prices, at least for the time being, while others will either hike their MSRPs to cover some or all of the tariff costs or adjust their U.S. market offerings to help keep their core customers. Motor1.com reports that Mercedes-Benz is going in the other direction and will be cutting the sticker prices of its slow-selling EQ-Class electric vehicles by amounts ranging from $4,150 to $12,950 for the 2026 model year.

A deep dive into automakers’ websites uncovered more than 40 sizzling summer incentives being offered on EVs of all styles and sizes this month, with some deals extending into August. These include buyers’ rebates as generous as $10,750, financing rates at or near 0.0% and lease bonus cash as rich as $11,500. We’re noting the best of the best deals below, and cite the 15 models that remain eligible for the federal tax credit.

Note that several automakers also offer special cash-back rebates for current owners, those driving competitors’ vehicles, members of the military and first responders. On the downside, advertised lease and financing deals are typically limited to consumers having top credit scores and qualifying household incomes. Some rebates may be limited to those financing a vehicle purchase through an automakers’ captive finance division.

Finally, be aware that incentives may vary from one part of the country to another to address supply and demand issues. Check automakers’ websites under a “Special Offers,” “Local Deals” or similar tab for details on what’s being offered locally.

Best Electric-Vehicle Incentives For July 2025

• Acura ZDX: 0.0% financing for 72 months; qualifies for $7,500 federal tax credit
• Audi S e-tron: $5,000 cash back
• Audi RS e-tron GT: $5,000 cash back
• BMW iX: $7,500 cash back
• BMW i4: $5,000 cash back
• BMW i5: $5,000 cash back
• Cadillac Lyriq: qualifies for $7,500 federal tax credit
• Cadillac Optiq: qualifies for $7,500 federal tax credit
• Chevrolet Blazer EV: 0.0% financing for 60 months plus $1,000 cash; qualifies for $7,500 federal tax credit
• Chevrolet Equinox EV: 0.0% financing for 60 months plus $1,000 cash; qualifies for $7,500 federal tax credit
• Chevrolet Silverado EV: 0.0% financing for 60 months plus $1,000 cash; qualifies for $7,500 federal tax credit
• Dodge Charger: $4,500 cash back, 1.9% financing for 72 months or $7,500 lease bonus cash
• Ford F-150 Lightning: qualifies for $7,500 federal tax credit
• Fiat 500e: $7,500 lease bonus cash
• Genesis GV60: Up to $14,250 lease bonus cash
• Genesis Electrified GV70: $7,500 Cash Back or $16,000 lease bonus cash
• GMC Hummer EV Pickup/SUV: $3,000 cash back or 0.0% financing for 60 months
• GMC Sierra EV: $3,000 cash back
• Honda Prologue: $7,500 lease bonus cash or 0.0% financing for 60 months; qualifies for $7,500 federal tax credit
• Hyundai Ioniq 5: Up to $7,500 cash back or $7,500 lease bonus cash; qualifies for $7,500 federal tax credit
• Hyundai Ioniq 9: Up to $5,000 cash back
• Hyundai Ioniq 6: Up to $7,500 cash back, 0.0% financing for 48 months or $7,500 lease bonus cash
• Hyundai Kona Electric: Up to $7,500 cash back or 0.99% financing for 48 months
• Jeep Wagoneer S: $4,500 cash back or 1.9% financing for 72 months (2024 model: $10,750 cash back or 0.0% financing for 72 months plus $3,000 cash back); qualifies for $7,500 federal tax credit
• Kia EV6: $5,000 cash back or 0.0% financing for 60 months; qualifies for $7,500 federal tax credit
• Kia EV9: $5,000 cash back or 0.0% financing for 48 months; qualifies for $7,500 federal tax credit
• Kia Niro EV: $7,500 cash back or 0.0% financing for 72 months
• Mercedes-Benz EQB: $11,500 lease bonus cash
• Mercedes-Benz EQE: $11,500 lease bonus cash
• Mercedes-Benz EQS: $11,500 lease bonus cash
• Nissan Ariya: Up to $10,000 cash back or 0.0% financing for 72 months plus $2,000 cash
• Nissan Leaf: 0.0% financing for 72 months
• Subaru Solterra: $7,500 lease bonus cash
• Tesla Cybertruck: qualifies for $7,500 federal tax credit
• Tesla Model 3: qualifies for $7,500 federal tax credit
• Tesla Model X: qualifies for $7,500 federal tax credit
• Tesla Model Y: qualifies for $7,500 federal tax credit
• Toyota bZ4X: 0.0% financing for 72 months plus $2,000 cash or $12,500 lease bonus cash
• 2025 Volkswagen ID.4: $5,000 cash back or 0.0% financing for 72 months
• 2025 Volkswagen ID.Buzz: $2,500 cash back
• 2025 Volvo EX30: $4,000 cash back or 1.99% financing for 72 months plus $1,000 cash
• 2025 Volvo EX40: $4,000 cash back or 1.99% financing for 72 months plus $1,000 cash
• 2025 Volvo EX90: $4,000 cash back or 1.99% financing for 72 months plus $1,000 cash