Costco Offers $2,000 Holiday EV Discounts—Tesla Misses Out on Seasonal Savings

Costco is kicking off the holiday season with discounts of up to $2,000 on select electric vehicles, including models from Chevrolet, GMC, Cadillac, Volvo, and Polestar. The promotion runs through January 2, but Tesla vehicles are notably absent from the lineup despite earlier partnership talks.

Costco Unveils New EV Holiday Discounts for Members

By January 2, members of selected Costco clubs can take advantage of a new program that offers discounts of up to $2,000 on certain electric automobiles.

Costco Auto is kicking up its Holiday Limited-Time Specials today, November 1. These savings are available to Costco members who buy or rent one of the participating electric vehicles:

• $1,000 on a 2024 or 2025 Chevrolet Silverado EV, Equinox EV or Blazer EV, GMC Sierra EV or HUMMER EV Pickup or SUV, or Cadillac LYRIQ.
• $1,000 on a Volvo C40 Recharge or XC40 Recharge
• $2,000 on the all-new Polestar 3 SUV

Focus on Chevrolet, GMC, Volvo, and Polestar EVs

Chevrolet, GMC, Volvo, and Polestar electric vehicles are the focus of the exclusive agreement. The Cadillac LYRIQ was the most sought-after premium midsize electric SUV among Costco members in the first half of 2024, according to the warehouse club, while the Chevrolet Blazer EV was the most desired automobile overall.

Out of a total of 23 automobiles, 10 are electric vehicles, making them eligible for the Costco incentive program. Costco has been actively working to expand the program's eligibility to include more electric vehicles, since demand for these types of vehicles is on the rise.

Growing Interest in EVs Shapes Costco’s Auto Program

The general manager of the Costco Auto Program, Jay Maxwell, stated:

“This year, nearly half of the vehicles — 10 out of 23 — are BEVs. Interest is growing, so it’s only fitting that we give Costco members a variety of electric vehicles to choose from.”

Tesla Left Out of Costco’s EV Program After Canceled Deal

Regrettably, the program does not include any Tesla EVs. In August, reports surfaced that Tesla was prepared to form a cooperation with Costco, per Teslarati. However, CEO Elon Musk reportedly canceled the arrangement because it "was not approved."