Subaru Solterra EV Sales Are So Disappointing A Big Price Cut Is Coming

Where is the 2023 Subaru Solterra now, and where is it going? Solterra sales continue to drop, and a significant price cut could be coming.

If you've been on the fence, here's why you should wait to buy that electric vehicle. According to Ray Shefska at CarEdge, electric vehicle prices are ready to drop in 2024. He says the 2023 Subaru Solterra is one EV that will drop in price.

Ray Shefska says, "Performance-wise, the Solterra just isn't worth the high price tag. However, I may change my thinking if Subaru takes cues from the sluggish market and drops prices by $5,000. The Subaru Solterra, already experiencing price cuts in Australia, faces slow sales in North America and even slower charging speeds."

What Are The Solterra's Strengths? 

Shefska says, "High ground clearance and futuristic Subaru looks are two that come to mind. With sales failing to take off more than 18 months after launch and plenty of 2023 Solterras STILL sitting on the lot, it's past time for a big price cut for this EV."

I can think of more Solterra strengths than what Shefska says. The Solterra has Subaru's excellent Symmetrical all-wheel-drive system for all-weather performance. In addition, it comes with an X-Mode for extreme weather capability. 

The Solterra also gets the highest safety score from the IIHS. It's one of the safest EVs you can buy today. Solterra is one of only four Subaru models to earn the IIHS Top Safety Pick+ award in 2024. 

Why Will Subaru Need To Drop Solterra's Price?

Subaru is in a precarious situation now. Too many 2023 Solterra EVs are still unsold, and they need to make room for the 2024 Solterra models, which come with new upgrades. The 2024 models are the same price, so Subaru of America must quickly move the remaining 2023 Solterra models off the retailer's lot. 

Check out the new 2024 Solterra Upgrades here. 

• Base 2023 Solterra MSRP: $46,340
• Average Selling Price: $50,103
• Current Market Day Supply: 363 days

The Solterra Is Underperforming

As I examine Subaru Solterra's sales performance, I see that buyers are reluctant to spend nearly $50,000 on Subaru's first EV.

What is the price of the 2023 and 2024 Solterra?

The 2023 and 2024 Solterra have three trim levels: Premium, Limited, and Touring. Pricing for the Solterra Premium trim level starts at $46,340. The Limited trim carries a starting manufacturer's suggested retail price of $49,840. The top-of-the-line Touring trim is priced at $53,340. Prices include destination and delivery fees ($1,345). Note: The 2023 model year destination and delivery fee is $1,225. 

Solterra By The Numbers

Subaru of America (SOA) reports that U.S. retailers delivered 446 Solterra EVs to customers in March. That's a 13.1 percent decrease in sales compared with March 2023. SOA has sold 1,147 Solterra EVs in the first three months of 2024. That's a 15.6% decrease year-to-date compared with last year when they sold 1,359 EVs.

Subaru of America Is Already Offering Special Financing On Solterra

Subaru of America says, "Now through April 30, 2024, get 0% APR Financing for 72 months on a new 2024 Solterra—manufacturer offer. No down payment is required. Monthly payment of $13.89 per $1,000 financed."

"Now through April 30, 2024, lease a new 2024 Solterra for $329 monthly on a 36-month lease (Premium trim, code RED-11). $329 due at lease signing. $0 security deposit."

Should Customers Wait For Solterra Prices To Drop?

Ray Shefska says slow Solterra sales will result in Subaru of America dropping prices by $5,000. Savvy shoppers who want a 2023 Subaru Solterra may wish to wait. When the 2024 models arrive this spring, retailers will be ready to sell significantly under MSRP. 

Thanks for reading, everyone. I hope you enjoyed this Subaru Solterra report. See you tomorrow for my latest Subaru Report.

MORE SUBARU SOLTERRA NEWS

• How do owners of the all-new Subaru Solterra like their new electric vehicle? According to J.D. Power, Solterra has a low overall customer satisfaction rating. See why it gets lower than average for all mainstream EVs.
• Customers will want to know about startling new developments at Subaru. Check them here before you buy any new 2024 Subaru Solterra, Outback, Crosstrek, Forester, or another Subaru model.

I am Denis Flierl, a top Torque News and Subaru reporter since 2012. I’ve invested over 30 years in the automotive industry in a consulting role, working with every major car brand. I am an experienced Rocky Mountain Automotive Press member. You'll find my expert Subaru analysis here. Follow me on my The Dirty Subaru website, Dirty Subaru blog, X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.

I’ve got you covered! - I cover all Subaru all the time. 

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Photo credit: Tucson Subaru