Kia is slashing EV prices to keep pace with low-cost rivals

Kia is cutting prices in the US, Europe, and other key markets in response to a wave of new low-cost rivals.

Kia’s EV price cuts are working, but for how long?

After reporting record first-quarter sales on Friday, Kia attributed the growth to strong demand for hybrid and electric vehicles.

The Korean automaker sold 232,000 eco-friendly vehicles in the first three months of the year, including 86,000 purely electric models.

Although EV sales rose 55% from Q1 2025, Kia’s net profits fell 23% due to higher discounts and incentives in overseas markets.

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“Chinese companies launched an aggressive push with low-priced EV models, and in some European countries their market share has been rising much faster than we had anticipated,” Kia’s CEO Song Ho-sung said during the company’s Investor Day earlier this month.

Song said during the event (via Reuters) that Kia has closed the gap with low-cost Chinese EV brands in Europe this year, like BYD, to 15% to 20% from around 20% to 25% in 2025.

BYD and other leading Chinese automakers, like Geely and Leapmotor, are quickly gaining market share in the region with lower-priced, and oftentimes, more advanced electric vehicles.

BYD’s vehicle registrations surged nearly 150% in Europe alone last month to over 37,500. The sudden wave of new low-cost models has forced rivals like Kia to respond with discounts and more affordable vehicles to keep pace.

Earlier this month, Kia reduced EV4 prices in Spain by over €8,300 ($10,000) after Volkswagen launched the new and improved ID.3 Neo.

After launching the entry-level EV2 earlier this month, the Korean automaker now offers a full lineup of electric vehicles, alongside the EV3, EV4 (hatch and fastback), EV5, EV6, EV9, and PV5 electric van.

Kia has also reduced EV prices in the US. Just last week, we learned that the 2026 EV6 will be $5,000 cheaper than the 2025 model. By the end of the year, Kia is also set to introduce the EV3, which will compete with low-cost EVs like the new Chevy Bolt and Nissan LEAF.

With the new 2026 models en route, Kia is discounting all 2025 EV6 and 2026 EV9s by up to $10,000. If you’re ready to see one in person, check out the links below to find local deals and available models near you.