Subaru Solterra Hits A Best-Ever, What’s All The New Excitement About?

Subaru of America (SOA) reported that the Subaru Solterra all-electric SUV saw a massive increase in sales in May. Why is Subaru's new EV surging when sales have been mediocre at best? Read my Solterra report here.

First, I'll show you May's sales performance and then explain why Solterra's sales have been so good in the last two months.

SOA says, "Solterra achieved its best month ever at 1,546 vehicles sold, beating its previous record (1,456) from last month."

The Best-Ever Month For Solterra

SOA reported that 1,546 Soltrra EVs were delivered to customers in May compared with only 436 in May 2023. That's a massive increase of 254.6 percent. That increase put Solterra sales through the first five months at 4,149 models delivered to customers. 

Solterra Sales Surge in 2024

At this time last year, SOA had only sold 2,398 Solterra EVs. The Solterra is up 73 percent for the year, the highest percentage increase of any Subaru car line. 

The Forester is the only other Subaru nameplate with a double-digit increase in 2024. My report is here.

Why Are Solterra Sales Surging Now?

When overall electric vehicle sales are slowing, why is the Solterra hot right now? Earlier in the year, too many 2023 Subaru Solterra EVs were sitting on retailer's lots. Subaru had to do something. Read my report here. 

Solterra By The Numbers

SOA reported that U.S. retailers delivered only 446 Solterra EVs to customers in March, a 13.1 percent decrease in sales compared with March 2023. SOA only sold 1,147 Solterra EVs in the first three months of 2024, a 15.6 percent decrease year-to-date compared with last year, when they sold 1,359 EVs.

Subaru of America knew it had to act quickly, so it offered customers additional manufacturer incentives and tremendous financing. 

Subaru of America said, "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."

Ray Shefska from CarEdge said "Slow Solterra sales will drop Subaru of America prices by $5,000, and retailers will be ready to sell significantly under MSRP." He was right. 

The price drops, customer incentives, and 0% financing worked. Sales surged in April and May. The Camden, N.J. automaker sold the remaining 2023 models and has continued the deal on the newly upgraded 2024 Solterra. 

Something Else Interesting Happened

Typically, a Subaru model in its second year does not receive any new upgrades. Minor changes in trim level options may be made, but no significant changes are made. 

Not So With Solterra

Subaru Cororpaotion knew they needed to make the Solterra more attractive to customers. So they gave it three new upgrades. 

• Solterra has improved charging performance
• A redesigned steering wheel 
• New EyeSight capability

Read about my 2024 Solterra upgrades report here.

And there's more. Subaru knew they couldn't raise the price of the updated Solterra, so they kept the price the same. They also kept the 0% financing.

Here is the 2024 Solaterra Pricing

The 2024 Solterra has three trim levels: Premium, Limited, and Touring. The Solterra Premium trim 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). 

In addition to keeping the price the same, SOA says, "Now through July 1, 2024, get 0% APR Financing for 72 months on a new 2024 Solterra."

Subaru of America typically doesn't incentivize its models. They build just the right amount on vehicles so that retailers can make a good profit and customers get the best pricing. 

But as the overall electric vehicle climate went from hot to cold almost overnight in America, Subaru had to act quickly. That's why Solterra sales jumped so much in the last two months. June could look good, too. Stay tuned.

How About You?

Are you less or more likely to buy a new electric vehicle now? Click the red Add New Comment link below and let us know.

I am Denis Flierl, a top Torque News reporter since 2012. I’ve invested over 13 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 X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.

Photo credit: Competition Subaru