With gas prices surging, driving an EV sounds even more attractive right about now. This month, several automakers are offering discounts of $10,000 or more on popular EVs like the Hyundai IONIQ 5 and Chevy Equinox EV.
Top-selling EVs with discounts of $10,000 or more
Not only are EV drivers saving money at the pump right now, but waking up with a full charge every morning beats stopping for gas.
After the $7,500 tax credit expired at the end of September, many automakers stepped in, offering their own incentives to match it. Some are offering even higher discounts to draw in buyers as new models arrive.
With gas prices up 33% over the past month, nearing a national average of over $4.00 per gallon, buyers appear to be turning back to EVs.
According to on-site shopping data from Edmunds, shopper consideration for electrified vehicles (EVs, PHEVs, and HEVs) surged 20% from the prior week in the first week of March. Most of the interest, Edmunds pointed out, was “driven by growing interest in battery electric vehicles,” which saw the largest increase.
With generous upfront discounts and low (often 0%) APR financing rates, most EVs now have a lower total cost of ownership than comparable gas-powered vehicles.
Hyundai IONIQ 5, Chevy Equinox EV, and Kia EVs
For one, Hyundai is offering up to $10,000 in discounts on all 2026 IONIQ 5 and IONIQ 9 EV models this month.
For those looking to finance, the deal might be even better. Hyundai is offering 0% APR financing for up to 72 months, plus an extra $5,000 off the 2026 IONIQ 5. The three-row IONIQ 9 is available with 0% APR financing for up to 72 months with an additional $3,000 off.
Hyundai has the 2026 Hyundai IONIQ 5 SE Standard Range listed for lease for as low as $259 per month right now. The offer is for 24 months with $3,999 due at signing.
| Hyundai IONIQ 5 Trim | Driving Range (miles) | 2026 Starting Price* | 2026 Monthly Lease Price in February |
| IONIQ 5 SE RWD Standard Range | 245 | $35,000 | $259 |
| IONIQ 5 SE RWD | 318 | $37,500 | $269 |
| IONIQ 5 SEL RWD | 318 | $39,800 | $309 |
| IONIQ 5 Limited RWD | 318 | $45,075 | $399 |
| IONIQ 5 SE Dual Motor AWD | 290 | $41,000 | $339 |
| IONIQ 5 SEL Dual Motor AWD | 290 | $43,300 | $379 |
| IONIQ 5 XRT Dual Motor AWD | 259 | $46,275 | $419 |
| IONIQ 5 Limited Dual Motor AWD | 269 | $48,975 | $469 |
That’s for the Standard Range model with up to 245 miles of range. You can upgrade to the extended range IONIQ 5 SE RWD, with up to 314 miles of range, for just $10 more per month at $269. Looking for something bigger? The IONIQ 9 is available to lease for as low as $369 per month.
Hyundai’s sister company, Kia, is offering a $10,000 customer cash discount across its entire EV lineup, including the 20206 EV9, EV6, and Niro EV.
After closing the gap with Tesla in the US EV market last year, GM is offering $10,000 off its best-selling electric vehicle, the Chevy Equinox EV.
The 2026 Chevy Equinox EV RS is available with $8,750 in customer cash, plus an additional $1,250 in conquest cash. With a $6,500 customer cash discount, the 2026 Chevy Equinox LT1 FWD starts at just $30,295 this month.
Chevy has the 2026 Equinox EV FWD LT with LT1 and the convenience package available to lease for $259 a month for 39 months, with $4,029 due at signing. Or, you can opt for 0% APR financing plus an extra $1,250 purchase allowance if you own or lease a 2012 model year or newer non-GM vehicle.
The Chevy Equinox EV and Hyundai IONIQ 5 were among the best-selling electric vehicles in the US last year. The electric Equinox ranked third behind the Tesla Model Y and Model 3, while the IONIQ 5 was fifth. With $10,000 in savings and gas prices surging, they are even more attractive right now.
| 2026 Chevy Equinox EV trim | Starting Price* | EPA-estimated Range |
| LT 1 FWD | $36,495 | 319 miles |
| LT 1 AWD | $39,795 | 307 miles |
| LT 2 FWD | $43,295 | 319 miles |
| LT 2 AWD | $46,595 | 307 miles |
| RS FWD | $45,595 | 319 miles |
| RS AWD | $48,895 | 307 miles |
So, which one to choose? The lowest-priced 2026 Hyundai IONIQ 5 SE RWD Standard Range trim starts at just $35,000, but it has an EPA-estimated driving range of 245 miles. The SE RWD, starting at $37,500, delivers a range of up to 318 miles. Chevy’s electric Equinox is priced from $34,995 (not including the $1,395 destination fee), with up to 319 miles of range.
The Chevy Equinox EV also features a “best-in-class” 17.7″ touchscreen infotainment (shown below on the left), beating the Hyundai IONIQ 5 at 12.3″ (shown on the right).
On the other hand, the IONIQ 5 features standard wireless Apple CarPlay and Android Auto, which are not available on the Equinox EV.
Hyundai’s electric SUV also offers more interior space, with up to 106.5 cubic feet of passenger volume, compared to the Chevy Equinox EV at up to 102.2 cubic feet.
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