- Fall is generally the time of year when car dealers offer big discounts to make way for next year's inventory
- This year is no different, with expensive luxury cars and EVs seeing the biggest discounts.
- Here are the most heavily discounted vehicles for October 2024.
These Are the Biggest Car and SUV Discounts for October 2024
Looking to score a great deal on a Mercedes? You're in luck
Ah, the autumn. The time of year when the nights grow longer, leaves turn to a crisp auburn and car dealers slash prices of current inventory to make room for an influx of updated models. Nature really is glorious, isn't it?
On the subject of slashing vehicle prices, now is a great time to score a deal on a new 2024 model year car as dealers stock their lots with 2025 versions. Here are the cars, trucks and SUVs with the biggest discounts in October 2024.
Note that the discounts listed here include applicable incentives for electric vehicles and plug-in hybrids. The vast majority of EV buyers lease them — 78% of all new EV transactions were leases in September, according to Ivan Drury, director of insights at Edmunds — and leases are available for the full $7,500 tax credit. This credit technically goes to the company leasing the car (usually the automaker's finance arm), but since many of these finance companies pass along the tax credit, some of the discounts for EVs and PHEVs noted below will partially incorporate these incentives.
Am I Ready for an EV?
- EV ownership works best if you can charge at home (240V outlet) This typically means a 240V home installation, or other places your car is parked for several hours each day. Don't expect a regular household outlet (120V) to suffice.
- Adding a home charging system is estimated to cost $1,616 in This is an estimate for your area. Using your address and the answers you provide, Treehouse can provide a more accurate price.
- Edmunds is partnering with Treehouse, an independent provider of home EV installation services. Learn more Edmunds customers receive a 10% installation discount and 4% smart charger discount. Discount excludes permit, hosted inspection, and load management devices. Valid for 30 days.
Mercedes-Benz EQS SUV
Luxury EVs have the highest discounts
The growth of electric vehicle sales has slowed through 2024, so it comes as no surprise that the cars that top our list of most heavily discounted cars are EVs. The Mercedes-Benz EQS large luxury electric sedan tops the list with an average discount of $27,596. We like the EQS just fine, and its range is exceptional; the base EQS 450+ is rated at 352 miles of range by the EPA, but we traveled a whopping 422 miles on the Edmunds EV Range Test. Even so, it faces stiff competition from the Tesla Model S, Lucid Air and BMW i7. Its crossover stablemate, the EQS SUV, comes in second with an average discount of $23,310. The EQS SUV is a great three-row electric SUV and one of the best EVs we've ever tested.
Prospective buyers can also expect healthy discounts on the midsize Mercedes EQE and EQE SUV, which are a size class smaller than their EQS siblings. The discounts here aren't as generous — standing at $15,231 and $18,442, respectively — but it does bring the price of these well-regarded EVs from an average MSRP in the mid-$80,000s to an average transaction price (or ATP) into the high-$60,000 range. The bleeding doesn't stop there for the three-pointed star; the last EV in Merc's lineup is the EQB, and it, too, sees a steep discount of $11,113.
Other luxury EVs with notable discounts include the BMW iX ($7,397), GMC Hummer EV ($7,037), GMC Hummer EV SUV ($6,919), BMW i4 ($4,997) and Audi Q8 E-Tron ($4,922).
2023 Infiniti QX80
Other luxury cars are hit hard, too, especially Mercedes
Discounts for non-electric luxury cars and SUVs are plentiful, too, but they primarily center on the most expensive vehicles in an automaker's lineup. The luxury non-EV with the biggest discount is the Infiniti QX80; not only is it in the middle of a model year changeover, but the 2025 QX80 is also all-new. That means smoking deals on the outgoing 2024 QX80. If you don't mind purchasing an SUV with bones that date all the way back to 2011, you can save $14,662 on average. The Mercedes S-Class, which serves as the pinnacle of Mercedes' sedan lineup, is a much newer (and better) vehicle, but large luxury sedans aren't exactly flying off the shelves. On average, buyers looking to cruise in supreme comfort can save $12,070.
Rounding out the list of luxury cars and SUVs with the biggest discounts are the Mercedes-Benz GLE Coupe ($7,266), Mercedes-Benz GLE ($6,265), Mercedes-Benz GLS ($6,261), Mercedes-Benz C-Class ($6,126) and Volvo XC90 ($5,844).
Big discounts on Stellantis brands
A pair of Stellantis plug-in hybrids top our list of the biggest discounts for non-luxury brands. The Jeep Grand Cherokee 4xe and Jeep Wrangler 4xe are both powered by a turbocharged 2.0-liter inline-four paired to a plug-in hybrid system. We're not huge fans of its application in the Grand Cherokee, but it makes the Wrangler feel pretty lively. Shoppers can expect to see a discount of $12,905 for the Grand Cherokee 4xe and $9,298 for the Wrangler 4xe.
The Dodge Challenger is no longer in production, but there are still quite a few examples lingering on dealer lots. On average, you can save $5,395 on one of these gas-powered Dodge coupes.
Non-luxury vehicles outside the Stellantis umbrella that also see big discounts include the Subaru Solterra EV ($7,775) and Buick Enclave ($5,079).
Model | Avg MSRP | Avg transaction price | Discount |
---|---|---|---|
2024 Mercedes-Benz EQS | $119,109 | $91,513 | $27,596 |
2024 Mercedes-Benz EQS SUV | $114,112 | $90,803 | $23,310 |
2024 Mercedes-Benz EQE SUV | $85,900 | $67,458 | $18,442 |
2024 Mercedes-Benz EQE | $84,093 | $68,862 | $15,231 |
2024 Infiniti QX80 | $88,249 | $73,587 | $14,662 |
2024 Jeep Grand Cherokee 4xe | $71,963 | $59,058 | $12,905 |
2024 Mercedes-Benz S-Class | $153,199 | $141,130 | $12,070 |
2024 Mercedes-Benz EQB | $58,761 | $47,647 | $11,113 |
2024 Jeep Wrangler 4xe | $64,972 | $55,673 | $9,298 |
2024 Subaru Solterra | $49,887 | $42,113 | $7,775 |
2025 BMW iX | $97,290 | $89,893 | $7,397 |
2024 Mercedes-Benz GLE Coupe | $102,079 | $94,813 | $7,266 |
2024 GMC Hummer EV | $111,148 | $104,111 | $7,037 |
2024 GMC Hummer EV SUV | $109,536 | $102,617 | $6,919 |
2024 Mercedes-Benz GLE | $83,154 | $76,890 | $6,265 |
2024 Mercedes-Benz GLS | $101,819 | $95,558 | $6,261 |
2024 Mercedes-Benz C-Class | $56,419 | $50,294 | $6,126 |
2024 Volvo XC90 | $73,759 | $67,915 | $5,844 |
2024 Acura MDX | $62,162 | $56,558 | $5,604 |
2024 Porsche Cayenne | $110,124 | $104,601 | $5,524 |
2023 Dodge Challenger | $61,668 | $56,273 | $5,395 |
2024 BMW 7 Series | $116,233 | $111,124 | $5,108 |
2024 Cadillac Escalade | $113,864 | $108,769 | $5,095 |
2024 Buick Enclave | $53,601 | $48,522 | $5,079 |