You Can Save Up To $2,000 On A New EV Or PHEV At Costco

• Costco is offering discounts for new EVs and PHEVs.
• Until November 2, 2025, Costco members can get up to $2,000 off on select models.

Costco, one of the largest wholesale retailers in the world, is offering its members discounts of up to $2,000 on select electric and plug-in hybrid vehicles. Until January 2, 2025, Costco’s Auto Program has vouchers for 10 EVs and 2 PHEVs from brands like Cadillac, Chevrolet, GMC, Polestar and Volvo.

The biggest discount of $2,000 is available for the Polestar 3 all-electric crossover that’s made in the United States, as well as the Volvo XC90 plug-in hybrid. Next is a $1,500 incentive for the purchase or lease of a Volvo XC60 plug-in hybrid.

The rest of the eligible models get a $1,000 discount. These are the Cadillac Lyriq, Chevrolet Blazer EV, Chevrolet Equinox EV, Chevrolet Silverado EV, GMC Hummer EV Pickup, GMC Hummer EV SUV, GMC Sierra EV, Volvo EC40 (formerly called C40 Recharge) and Volvo EX40 (formerly called XC40 Recharge).

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The reason for these incentives? Demand. The retailer said its members’ requests for all-electric cars rose 31% in the first half of the year compared to the same period last year, so it’s giving the people what they want.

“In the fourth-quarter promotions held in the past two years, we included two electric vehicles from one manufacturer,” said Jay Maxwell, Costco Auto Program general manager. “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.”

Photo by: InsideEVs

The Chevrolet Blazer EV was one of the most requested electric cars by Costco's members.

The Chevrolet Blazer EV was the most requested midsize electric SUV by Costco members in the first six months of the year, while the Cadillac Lyriq was the first name on the premium electric midsize SUV list. Meanwhile, the electric version of the Volvo XC40 was the most requested premium electric compact SUV.

To get the discount, Costco members can go on the company’s Auto Program website, select an eligible model, register for a savings certificate with a unique promotion code and then show the certificate at the dealership.

Last month, the American wholesaler that’s known for offering gas discounts to its members opened the first Costco-branded DC fast chargers at one of its warehouse stores in Washington. They’re made by Seattle-based Electric Era and can dispense up to 200 kilowatts of power to each connected EV. There are also batteries built into the stalls to keep the lights on when grid power goes down and to take advantage of low-peak electricity rates.