Kia EV9 discounts reached over $18,000 on average in June
The electric vehicle deals are heating up. As new models hit the market, automakers are offering massive incentives. Some are offering discounts in the five-digit range, like the Kia EV9, with discounts topping $18,000 in June.
Electric vehicles continue outpacing gas-powered cars
According to S&P Mobility Global’s latest data (via Automotive News), EV registrations reached 108,026 in June, up 3.1% from last year.
S&P analyst Kent Chiu said that June’s numbers were “good for EVs” as they continued to outpace the overall market. Light vehicle sales fell 8.8% to around 1.2 million as the market trended toward electric. The shift pushed EV market share up to 8.9% in June 2024, up from 7.9% a year ago.
Several brands, including Kia (+105.9%), Cadillac (+403.9%), and Toyota (137.6%) saw triple-digit EV registration growth in June.
The report noted that new models, like the Tesla Cybertruck (check out our review), with 4,675 registrations, helped boost the segment. Other new models, like the Kia EV9 (1,736), Chevy’s Blazer, and Equinox EVs (3,054 combined), contributed to the growth.
Kia EV9 had over $18,000 in discounts on average in June
However, behind the growth were “pretty strong incentives,” Chiu explained. Toyota’s bZ4X had an average of $11,761 in incentives in June, according to Motor Intelligence. Nissan’s Ariya had an average of $14,779.
The Kia EV9, the brand’s electric three-row SUV, was among the top with average discounts of $18,081 in June.
Chiu noted, “As more EVs come to market and occupy segments that match internal-combustion vehicles, there will be more consumers that switch over to the EV space.”
You can already see the shift with new models like Kia’s EV9. Kia delivered nearly 11,500 EV9 models in the US through July.
Starting at $56,395, Kia calls the EV9’s starting price a “wake-up call” to the industry. With massive new incentives, the EV9 is already stealing market share from gas-powered rivals.
|
Kia EV9 Trim |
MSRP (including $1,495 destination fee) |
EPA Est. Range (miles) |
| Light RWD | $56,395 | 230 |
| Light Long Range RWD |
$60,695 | 304 |
| Wind e-AWD | $65,395 | 280 |
| Land e-AWD | $71,395 | 280 |
| GT-Line e-AWD | $73,900 | 270 |
The trend is expected to continue as new, lower-cost EVs, like the Chevy Equinox EV, hit the market. Chevy will launch a $35,000 Equinox EV that will be available later this year.
Ready to take advantage of the massive savings? We can help you get started. You can use our links below to view offers on some of the most discounted EVs in your area.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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