Kia Sweetens The Deal With $5,000 Cash-Back For Popular EV9: Here’s How Much New Starting Price Would Be

In a recent move to stay competitive in the burgeoning EV market, Hyundai Motor Co-owned (OTC:HYMTF) Kia has significantly ramped up the discount on its 2024 EV9 models, offering customers a hefty $5,000 cash rebate.

What Happened: As reported by Electrek on Tuesday, Kia has chosen to amplify its discount on all 2024 EV9 models. This follows the automaker’s decision to open EV9 orders in November with a starting price tag of $54,900.

The first three-row electric SUV from Kia has seen a warm reception, with 2,726 units sold in the U.S. within the first two months of the year. After implementing price cuts in its home market, Kia has now introduced a new discount on the 2024 EV9 in the US.

According to a memo dispatched to dealers, Kia is now offering $5,000 in customer cash on all 2024 EV9 trims, a 33% increase from the previous $3,750 offer. With this discount, the EV9’s starting price could potentially drop to $51,395. Furthermore, Kia is also offering a $1,000 loyalty discount, which could lead to potential savings of up to $6,000.

Despite Kia’s plea to dealers to avoid markups, several have already hiked prices by up to $7,000 over MSRP due to high demand.

The new EV9 discount emerges as rivals, including Ford and Nissan, have announced similar strategies to remain competitive in the expanding EV market.