8 Electric Vehicles that Will Have Massive Price Drops in Late 2025
Written by
Angela Mae
Edited by
Zuri Anderson
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Electric vehicles (EVs) are all about saving on fuel costs and lowering emissions, but the initial cost of purchasing one isn’t cheap. As per Kelley Blue Book, new EVs cost an estimated $55,689 on average. Some, like the 2025 Mercedes-Benz EQS SUV, have a six-figure starting price.
That doesn’t mean the dream of owning an EV is out of reach. If you’re in the market for an electric vehicle, here are five that are likely to see massive price drops in the coming months.
Tesla (Models S, Y, X, and 3)
According to an iSeeCars study, electric vehicle prices fell more than 24% in 2024 with Tesla dropping the most of all EV makers. The vehicles with the biggest price drops were the Tesla Model S and Y, both of which saw a 12.3% year-over-year (YoY) decrease. The Model X wasn’t far behind with a 12.1% YoY price reduction.
Here’s the average cost of these three vehicles as of July 2025, and the YoY price drop:
- Model S — $47,416 average price ($6,662 drop)
- Model Y — $29,141 average price ($4,071 drop)
- Model X — $50,392 average price ($6,950 drop)
The Tesla Model 3 also fell, but only by 4.3%. Still, if recent trends continue, Tesla vehicles could continue to see significant price reductions. Wait long enough and, while the federal tax credit might be no more, you could still end up saving in the long run.
2025 Cadillac Lyriq
The Cadillac Lyriq ranks high as one of the best luxury electric SUVs, but it’s already seen price cuts. The 2024 model starts at $58,590, while the 2025 model starts at $60,090 — that’s only $1,500 more.
Perhaps more significantly is that the 2026 model has a starting price of $60,695. That’s hardly any difference at all. As dealerships clear out their inventory of last year’s models, you might see price cuts for new or nearly new Cadillac Lyriqs by next year.
Audi Q4 e-tron
The Audi Q4 e-tron is an all-electric SUV. The 2025 model has a starting price of $49,800. But this is already lower than the 2024 model, which started at $55,200.
This price drop could be attributed to several things, including other competitors producing EVs with greater range and faster charging capabilities. The Audi Q5 (hybrid) is also comparable in terms of overall rankings and specs, but the starting price is just $40,328. Once those tax incentives go, the manufacturer may need to nudge its EV prices down a little to compete with other models.
Chevrolet Bolt EV
The Chevrolet Bolt EV is already priced reasonably low compared to others on the market, but it may become even cheaper as dealers start preparing for the newest model.
Currently, the average starting price for a 2025 Chevrolet Bolt is $44,600, per U.S. News & World Report. This is $4,200 less expensive than the 2024 model.
But according to Car and Driver, the 2027 Chevrolet Bolt is expected to come in at just under $35,000. If that’s the case, older versions are likely to drop even more.
Ford Mustang Mach-E
While not the biggest price drop, the 2025 Ford Mustang Mach-E has a lower average price than last year’s model. These vehicles cost $36,995 and $39,995, respectively.
The Ford Mustang Mach-E is one of the five best-selling EVs in the country, according to Cox Automotive. But as other models enter the market, Ford may need to lower prices even further to stay competitive — especially with brands like Tesla.
Editor’s note: Prices are accurate as of Oct. 23, 2025. Prices and availability may vary by location.
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