7 EVs for Middle-Class Retirees Getting Massive Price Drops for 2026
Written by
Angela Mae Watson
Edited by
Zuri Anderson
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Electric vehicles (EVs) can be a smart purchase for those who want to cut down on emissions and save money on fuel. But they’re not cheap.
According to Kelley Blue Book, new EVs cost anywhere from $29,280 to over $100,000. The average cost is around $57,000. Middle-class retirees who want an EV may want to wait until prices drop.
Vehicle pricing does fluctuate every few months, so don’t be surprised if the following EVs see huge price drops in the coming months.
Chevrolet Bolt EV
Comfort, affordability and ease are all vital when it comes to driving as an older adult. The 2023 Chevy Bolt EV checks all those boxes. And while it does lack an all-wheel-drive option, it’s spacious with a decent driving range of about 259 miles.
The latest Chevy Bolt EV has a starting price of $44,600, as per U.S. News & World Report. It also ranks high in safety.
As dealerships start moving out older vehicles to make way for newer models, prices are likely to drop. Already, Car and Driver estimates the 2027 Chevy Bolt will cost around $35,000. That’s significantly cheaper than what’s already out there.
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Hyundai Kona Electric SUV
According to Car and Driver, the 2025 Hyundai Kona Electric SUV has a starting MSRP of $34,470 to $42,645.
For middle-class retirees, it’s a more affordable option than other EVs on the market right now. It also has large cargo capacity, comfortable seats and ranks third-best out of all electric subcompact SUVs.
As for pricing, the 2025 Hyundai Kona could see a price drop next year. The 2026 version has a starting MSRP of $32,975, which is already lower than even the cheapest new 2025 model. To make the newest model even more competitive, and to make room, dealerships may drop their prices even more.
Tesla (Model S, Y and X)
If there’s one thing older Americans love, it’s brand recognition. In fact, one report cited by MarketingCharts.com found that 81% of adults ages 55 and up tend to stick with brands they like.
When it comes to EVs, Tesla is one that stands out about the rest. But Tesla has already seen massive price drops. An iSeeCars study found that Tesla prices fell between 12.1% and 12.3% last year. The EVs with the greatest price drops were the Model S (12.3% decrease), Model Y (12.3% decrease) and Model X (12.1% decrease).
If history repeats itself, retirees could see even lower prices for these vehicles in 2026.
Cadillac Lyriq
A luxury vehicle like the 2025 Mercedes-Benz G-Class with its starting MSRP of $149,400 might be out of reach for middle-class retirees. But the 2025 Cadillac Lyriq isn’t a bad runner-up.
Ranked fourth-best by Car and Driver out of all mid-size luxury SUVs, the Cadillac Lyriq has a $60,090 starting MSRP. It gets an estimated 326 miles on full charge, has a futuristic look and offers a smooth ride. If you’re in the market for a cruiser, it’s not a bad choice.
Also, the 2026 model has a $60,695 starting price. Once dealerships switch over to the newer model, chances are the older models will drop in price.
Ford Mustang Mach-E
The Ford Mustang Mach-E is the third best-selling new EV in February 2025, according to Cox Automotive. Key reasons for its popularity are its smooth ride, responsive handling and comfy interior.
Prices for this EV are already competitive for what you’re getting, but they’re also on the decline. The 2024 model has a starting average price of $39,995. Meanwhile, the 2025 model starts at $37,995.
The 2026 Ford Mustang Mach-E is expected to cost the same as the 2025 version. But as the older models become a little less relevant to consumers seeking the latest and greatest, prices are bound to fall.
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