Kia’s latest offering, the EV9, is making its debut at dealerships, and the company is wasting no time in enhancing its appeal to potential buyers.
Initially, early purchasers of the EV9 enjoyed a $3,750 customer cash incentive, but as of March 1, Kia has upped the ante to $5,000, as reported by CarsDirect. With this adjustment, the entry-level price for this SUV stands at $51,395, inclusive of a $1,495 destination fee.
Moreover, Kia is sweetening the deal with a $1,000 loyalty discount tailored for the EV9, potentially extending the savings for interested buyers. The automaker has slashed financing rates for the EV to a competitive 2.49% and has reduced monthly lease prices.
Notably, leasing an EV9 presents a workaround for the absence of tax credits, potentially providing a $7,500 discount at the point of sale.
While Kia has advised dealers against imposing markups on the EV9’s already elevated price tag, some have chosen to do so nonetheless. According to CarsDirect, certain dealerships have tacked on as much as $7,000.
Prior to these discounts, the EV9 ranged from $54,900 to $73,900 (excluding destination charges), indicating that markups could drive prices into unjustifiable territory.
Despite the absence of federal tax credits, the EV9 has outsold its counterpart, the EV6, thus far this year. These discounts are expected to sustain the competitiveness of the larger EV and provide a cushion for prospective buyers.
This strategic move echoes the approach adopted by GM for models that lost eligibility for tax credits, with the anticipation that forthcoming models like the Cadillac Lyriq and Chevy Equinox EV will regain eligibility later this year.
Even without incentives, the EV9 has exhibited promising performance. Kia commenced accepting orders late last year, garnering significant reservations early on. Sales figures reflect this enthusiasm, with 1,113 units sold in December and 1,408 in January.
These figures bode well for the anticipated Hyundai three-row EV, slated to be named the Ioniq 9, which will share the E-GMP platform with the EV9. However, a formal introduction of the SUV is not expected until June, coinciding with Kia’s plans to host a reveal event at the Busan International Motor Show in South Korea.
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