These past few months have been a rollercoaster ride for electric vehicle prices. Tesla increased the MSRP of the Model Y and then decreased the leasing fee for the Model 3. BMW also slashed the leasing cost for the i4 making it the cheapest car to lease in its portfolio, while Lucid made headlines with discounts of almost $30,000 on inventory Air sedans.
Not to be left out, Genesis is now offering deals for both leasing and purchasing, according to CarsDirect.com.
Genesis gets in the discount game
Genesis, which is part of the Hyundai Motor Group, is offering $7,500 off its EVs this month. All battery-powered Genesis models can get the discount when leasing, and almost all can benefit from the cut when purchasing.
Until the end of April, all Genesis EVs–that’s the GV60, Electrified GV70 and Electrified G80–can benefit from a $7,500 lease cash discount. This brings the starting price of the entry-level GV60 crossover down to $45,850 with the destination charge ($53,350 without the discount), while the larger Electrified GV70’s MSRP goes down from $67,800 to $60,300.
The same discount is also available when purchasing, although, as CarsDirect points out, the so-called Retail Bonus Cash can’t be combined with low-interest financing. The GV60 and Electrified GV80 are eligible for 5.49% APR for 60 months or 5.99% APR for 72 months.
The flagship Genesis Electrified G80 sedan is not eligible for the purchase discount but the $7,500 lease cash incentive is still available until April 30.
From left: Genesis GV60, Genesis Electrified GV70 and Genesis Electrified G80
Furthermore, no Genesis EV is currently eligible for the $7,500 federal tax credit when purchasing, making the GV60 roughly $9,000 more expensive than the entry-level Tesla Model Y with which it competes. The Model Y is eligible for the federal tax credit, which effectively lowers its starting MSRP from $44,830 (including destination charge) to $36,880.
The base Genesis GV60 comes with a single electric motor that makes 225 horsepower and has an EPA-estimated range of 294 miles on a full charge. Spend roughly $14,000 extra and you can get the larger Electrified GV70 SUV which offers all-wheel drive and an EPA-estimated range of 236 miles. Meanwhile, the Electrified G80 sedan starts at $75,625 without any incentive and is only available with all-wheel drive and an EPA-estimated range of 282 miles.
