Labor Day is traditionally a cue for car dealers to roll out promotions as new model year vehicles arrive on the lot. And this year, some of the best deals are to be had on electric vehicle leases ahead of a $7,500 federal tax credit expiring on Sept. 30, according to auto research firm Edmunds.

Data from Kelley Blue Book shows EV prices have dropped steadily amid soft demand for electric cars. In July, the average sales price for a new EV was $55,689, down more than 4% from a year ago.

The tax credit saves EV leaseholders an average of $208 a month spread across a 36-month lease, Edmund found in analyzing dealership transactions. Leasing has become the most common way consumers enter the EV market, according to the auto industry data provider, which found that leases made up 70% of al

See Full Page