Ivan Drury was stunned when he found out how much his aunt was paying for a lease on the electric Honda Prologue SUV.
Drury, director of insights for Edmunds, tracks sales of electric vehicles closely. When his aunt inquired about leasing one, he replied with an emphatic “yes.”
The next day she returned home with the Prologue. Her monthly payment? $250.
“There are killer deals out there, to say the least,” Drury told ABC News. “If you’re contemplating getting an EV, just do it.”
The federal tax credit of up to $7,500 expires on Sept. 30, meaning prices could rise later this year, he said.
Stephanie Valdez Streaty, a director at Cox Automotive, said more than 130,000 EVs were sold in July, the second highest volume ever. The upcoming credit expiration was directly responsible for the record sales, she said, adding that August and September will post similar, if not higher, numbers. Nearly every automaker benefited from the EV buying spree, she added.
According to a recent survey from AutoPacific, 79% of “EV considerers” are aware of the tax credit, and “the impact of the repeal will no doubt be consequential as it effectively raises the cost of EVs significantly, making them less affordable to many interested shoppers.”
Robby Degraff, manager of product and consumer insights at AutoPacific, said automakers are “throwing money on the hood to get rid of these vehicles,” resulting in “insane” prices for EVs.
“People are rushing out to dealerships to take advantage of these deals,” he told ABC News. “If you’re on the fence about an EV, buy one ASAP. For a lot of people, it makes sense to upgrade to an EV.”