Looking for a great deal on a new vehicle? Electric vehicles from one or two model years ago are gathering cobwebs on dealer lots and now overlap 2024 model-year vehicles. Dealers are offering five-figure discounts to move the old inventory.
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Update May 9, 2024: The 2022 VW ID.4 mentioned in this story is still shown on a dealer website as new and unsold.
As we enter the second quarter of 2024, it won’t be long before 2025 model-year (MY) vehicles are announced, followed up by dealer inventory. The incoming MY vehicles usually appear about mid-summer. As crazy as this might sound, many new battery electric vehicles are sitting on dealer lots branded with 2023 MY on their stickers. That is very bad news for dealers who are also stocking 2024 model-year vehicles with more on the way. If you want a new EV, this could be very good news for you because deep discounting on new EVs is the norm right now.
It’s not just one-year-old battery-electric vehicles sitting around unsold. Minuteman Volkswagen of Bedford, Mass., has an unsold 2022* model-year ID.4 battery-electric vehicle sitting on the lot. As well as 2023s. The dealer has discounted the new ‘22 by a whopping $10,000 and is adding much more if you happen to be in a special class, such as a military veteran or college grad.
Here are some examples of new unsold 2023 MY battery-electric vehicles we found in the Metro Boston Area in 3 minutes of searching:
1) 2023 Subaru Soltera at Metro West Subaru in Natick stock # MP1423
2) 2023 Ford Mustang Mach-e Townsend Ford stock # 23T186
3) 2023 Toyota bZ4X Acton Toyota stock # 231875
4) 2023 Nissan Leaf Plus Nissan of Merrimack Valley Stock #563512
5) 2023 Volvo XC40 Recharge Pure Electric Plus HC Volvo Norwood Stock #: 307454
Deals On Leftover Vehicles Are Always Worth A Look
The strategy of looking at leftover new cars predates the modern electric car era. This is not a new or unique strategy. Rather, it is a proven way for shoppers to find a good deal on a new vehicle.
Your Warranty Will Not Be Shortened
If you are concerned that purchasing a leftover vehicle your new car warranty will be diminished, don’t be. Warranties are not linked to the model year of a vehicle. They begin their countdown when the new vehicle is sold. Your new but leftover electric vehicle would have the same warranty as a newer model-year vehicle sitting next to it on the lot. Be sure to bring that up with your dealer.
Tesla tries very hard to obscure model years with its vehicles. However, the EPA and registry of motor vehicles force Tesla to use model years for many purposes. On its long list of discounted in-stock new vehicles, Tesla does not indicate the model year of the vehicle. However, if you go to www.FuelEconomy.Gov you may find one interesting clue as to what model year Tesla is presently selling. Tesla has yet to provide EPA with 2024 model year data. So, are all the Teslas being sold today actually 2023s? We don’t know. We just know that the EPA is still waiting to load Tesla Model year 2024 data in Q2, and ten manufacturers have already sent EPA 2025 data.
Tesla maintains a list of leftover and in-stock new inventory you can access here. We recently spotted some very unusual Tesla discounting trends that will benefit shoppers.
Automakers Are Offering Steep Discounts On Unsold Battery-Electric Vehicles
If you are shopping for a new EV right now, be sure you look closely for new inventory from prior model years. These are the vehicles dealers will most likely discount the most. Negotiate hard. Test drive the leftover model and then ask if you can try a “Current model year vehicle.” Ask why the old model has sat unloved for so long. Don’t be afraid to walk away if you cannot get a good deal. After all, the list of slow-moving EVs is long and spread across nearly all brands, as our local search in one market where EVs are very popular has proven.
Author Note: This story was created the week ending April 6th. Inventory mentioned in this story will change as time passes.
*Minuteman Volkswagen Stock #: 22478. 2022 ID.4 Pro S in Scale Silver Metallic, VIN WVGUNPE2XNP040926. No mention of this being a demo in dealer notes.
John Goreham is an experienced New England Motor Press Association member and expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. In addition to his eleven years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can connect with John on Linkedin. Please note that stories carrying John's by-line are never AI-generated, but he does employ Grammarly grammar and punctuation software when proofreading.
Image of VW ID.4 courtesy fo VW. Image of 2024 MY vehicle listings courtesy of EPA.
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