6 EVs That Will Get Cheaper in 2026
Written by
J. Arky
Edited by
Rebekah Evans
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Getting an electronic vehicle (EV) is a great way to “go green” but not always the best way to keep some green in your pocket. Even though plenty of EVs have become more affordable, some are still out of the price range for many drivers hoping to get behind the wheel and save at the pump. Thankfully, a few EVs are projected to go down in price in 2026.
“In the upcoming year, EV vehicle prices are expected to fall. The change in the EV is a result of several market variables all coming together,” said CWK media automotive reporter Kendra Sommer. “Variables like former President Joe Biden’s EV Tax credit … The cost of EV Batteries is coming down and the overall demand is starting to wane, which results in manufacturers making pricing changes.”
Which makes and models exactly? GOBankingRates asked a few automotive experts for their predictions on the six EVs that will get cheaper in 2026. Here’s what they are forecasting.
Ford Mustang Mach-E
- Starting price: $39,840
Daniel Vasilevski, owner of ProElectrical said one model that will experience the greatest price drop and that is the Ford Mustang Mach-E.
“When compared to the manufacturer’s current suggested retail price for each trim level, I can see that there will be a reduction of approximately $4,500 to $6,000,” Vasilevski explained. “That represents a decline of nearly 15% from current sticker prices because Ford must clear out substantial unsold inventory.”
Hyundai IONIQ 5
- Starting price: $36,600
Melanie Musson, auto industry expert with AutoInsurance.org, noted that the Hyundai IONIQ 5 will likely be $10,000 cheaper in 2026.
“EV manufacturers are forced to play on an even playing field with standard gas-engine vehicles,” Musson explained. “There are no government incentives and prices are dropping so that people end up paying about the same as they would have with the tax credit. The IONIQ 5 can lower costs because Hyundai can manufacture a large number of vehicles at its U.S. plant.”
Tesla Model Y
- Starting price: $41,630
Vasilevski highlighted that the Model Y is still a dominant player in its class with longer range capabilities and better integration of vehicle software than electric vehicles like the Mach-E.
“Since raw materials costs for battery packs have dropped significantly over the last twelve months, it gives the manufacturer some wiggle room to lower its pricing,” Vasilevski said.
Kia EV9
- Starting price: $56,495
According to Musson, the Kia EV9 is getting cheaper for 2026, thanks in part to it being manufactured at the same plant as the IONIQ 5 in Georgia, U.S.
“Streamlined, American manufacturing has saved Kia a lot of money and they’re able to maintain profitability while lowering prices,” Musson said.
Cadillac OPTIQ
- Starting price: $52,695
Sommer highlighted that the luxury compact electric crossover SUV debuted in the North American market in the 2025 model year, but for the 2026 model, Cadillac has lowered the price by about $2,000.
Sommer test drove this vehicle last summer. “One of my favorite vehicle features is GM’s Super Cruise, which is a hands-free driver assistance technology. If you’re looking for an EV with a hint of luxury, this is a great option,” Sommer said.
Ford Lightning
- Starting price: $57,375
Musson also foresees the Ford Lightning getting about $4,000 cheaper in 2026.
“In addition to the lower price tag, the lower-end models are being made with a better, longer-range battery pack,” Musson added.
Editor’s note: All car prices were sourced from Car and Driver.
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