Several automakers are offering discounts of up to $10,000 or more on popular electric vehicles, such as the Hyundai IONIQ 9 and Chevy Equinox EV. This comes after the $7,500 tax credit expired at the end of September, many automakers began offering incentives to match it. With gas prices increasing by 33% over the past month, buyers are returning to electric vehicles due to a lower total cost of ownership than comparable gas-powered vehicles. Hyundai is offering $10K in discounts on both 2026 models, while Kia is offering a $10k customer cash discount across its entire EV lineup. GM is offering an additional $3,000 off its best-selling electric vehicle, the Chevy Equineox EV, with a $8,750 in customer cash and a $6,500 customer discount. The 2026 Hyundai IONSIQ 5 SE Standard Range model is available for lease for as low as $259 per month.