March's Best EV Deals: Model 3 and a 3-Row SUV Lead the Discounts
As new EV sales slow, automakers and dealers are layering incentives to move metal. Edmunds and Motor Trend's latest deals data shows meaningful discounts on some of the best EVs you can buy right now.
The U.S. EV market is sending mixed signals in early 2026. New EV sales dropped roughly 27 percent year-over-year in February, according to Cox Automotive data — but at the same time, dealers and automakers are dangling increasingly attractive deals to move metal. If you’ve been waiting for the right moment to go electric, several models are offering compelling value right now.
Tesla Model 3: Up to $19,600 Off in Some Configurations
Tesla’s Model 3 continues to dominate the premium EV sedan segment, and with demand soft, inventory deals are better than they’ve been in years. Edmunds’ March 2026 deals data shows significant manufacturer and dealer incentives on certain Model 3 configurations — with effective savings approaching $19,600 in some markets when combining all available offers.
The long-standing Edmunds Top Rated Electric Car for 2026 (its second consecutive year winning the award), the Model 3 Long Range remains one of the most compelling EVs on the market: 341 miles of EPA-estimated range, access to Tesla’s Supercharger network, and strong residual values.
Even without stacking every incentive, a well-equipped Model 3 Performance can be had for significantly less than its $54,630 starting MSRP with current dealer discounting.
Hyundai Ioniq 5: $7,500 Off + Federal Credit
Hyundai is offering substantial discounts on the Ioniq 5, with Motor Trend’s March deals data showing up to $7,500 in manufacturer incentives on certain trims. Combined with the $7,500 federal EV tax credit for qualified buyers, the effective discount on a well-equipped Ioniq 5 can approach $15,000 in qualifying scenarios.
The Ioniq 5 was recently named Edmunds’ Top Rated Electric SUV for 2026, beating out strong competition from the Kia EV9, Volvo EX90, and Rivian R1S. Its 800V architecture allows for ultra-fast charging at DC fast stations — Hyundai says 10 to 80 percent in just 18 minutes at 350kW.
Lucid Air: Up to $14,500 Off
If budget isn’t the primary constraint but you want maximum range, the Lucid Air is seeing some of its deepest discounts yet. Motor Trend reports deals of up to $14,500 on certain Air Pure and Air Touring configurations. The Air Pure offers an EPA-estimated 410 miles of range — still the highest of any electric vehicle currently on sale in the U.S.
The Air has never been a high-volume seller, and Lucid has been working to improve its production economics. Current deals reflect both weak demand for ultra-luxury EVs and Lucid’s need to generate cash flow as it scales the Air and prepares the upcoming Gravity SUV.
The Used EV Opportunity
One thing driving new EV discounting: a looming glut of off-lease EVs. Industry analysts estimate that more than 300,000 electric vehicles are expected to come off lease in 2026 alone, flooding the used market. That surge in supply is pushing some used EV prices down sharply, which in turn is suppressing new car demand — creating a cycle that automakers are trying to break with deeper incentives.
For buyers who qualify for the federal tax credit, leasing can actually be the smarter play right now: many leases are factoring the $7,500 credit into monthly payments, which can make a $55,000 EV significantly more affordable on a per-month basis than financing the full purchase price.
The deals are real — and for the right buyer, now is a genuinely good time to go electric.
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