This pricing push comes as gasoline prices have climbed sharply, rising 33% over the past month to nearly $4 per gallon nationwide. The spike is contributing to renewed interest in electric vehicles, which offer lower running costs and the convenience of home charging.
At the same time, the market is adjusting after the federal $7,500 tax credit expired in late September. Automakers have introduced their own financial incentives to fill the gap, often combining direct discounts with low or zero-interest financing to maintain competitiveness.
Hyundai and Kia Expand Incentives Across Electric Lineups
Hyundai is offering up to $10,000 off all 2026 IONIQ 5 and IONIQ 9 models this month. Buyers financing their purchase can access 0% APR for up to 72 months, alongside an additional $5,000 discount on the IONIQ 5 and $3,000 on the IONIQ 9.
Lease pricing further illustrates the push toward affordability. The 2026 IONIQ 5 SE Standard Range, with an EPA-estimated 245 miles of range, is listed at $259 per month for 24 months with $3,999 due at signing. The extended-range SE RWD version, offering up to 318 miles, is available for $269 per month.
According to Electrek, Kia is applying a similar approach, with a $10,000 customer cash discount available across its EV lineup, including the 2026 EV6 and EV9.
Chevrolet Equinox EV Combines Pricing Cuts and Competitive Specs
General Motors is offering up to $10,000 off the Chevrolet Equinox EV, one of the best-selling electric vehicles in the US. The model ranked third last year, behind Tesla’s Model Y and Model 3, while the Hyundai IONIQ 5 placed fifth.
The 2026 Equinox EV RS includes $8,750 in customer cash and an additional $1,250 in conquest cash. The LT1 FWD version starts at $30,295 with a $6,500 discount applied. Lease offers are set at $259 per month for 39 months, with $4,029 due at signing.
The vehicle delivers up to 319 miles of EPA-estimated range on front-wheel-drive versions. Pricing spans from $36,495 for the LT1 FWD to $48,895 for the RS AWD, including destination fees. Buyers can also opt for 0% APR financing with a $1,250 purchase allowance if they currently own or lease a non-GM vehicle from model year 2012 or newer.
Features, Range, and Remaining Offers Shape Buyer Choice
The Hyundai IONIQ 5 and Chevrolet Equinox EV present different strengths in design and technology. Chevrolet’s model features a 17.7-inch infotainment screen, while Hyundai offers a 12.3-inch display but includes standard wireless Apple CarPlay and Android Auto, which are not available on the Equinox EV.
Interior space also varies slightly, with the IONIQ 5 providing up to 106.5 cubic feet of passenger volume compared to 102.2 cubic feet in the Equinox EV.
Other manufacturers are offering smaller but still notable incentives. Toyota is providing up to $7,000 off the 2026 bZ, C-HR, and bZ Woodland models, along with 0% APR financing. Honda’s Prologue comes with an $8,000 sales credit, and lease prices start at $269 per month for 36 months.
All these promotional offers, from Hyundai, Kia, Chevrolet, Toyota, and Honda, are scheduled to end on March 31, 2026, although availability may vary depending on location.
