Costco Wholesale's (NASDAQ:COST) auto program is offering incentives of up to $2000 for members on several EVs from Volvo, Polestar, Chevrolet, and Cadillac.
What Happened: The deals run from May 1 until July 31 for Costco members who buy or lease certain EVs from the four brands, including both battery electric and plug-in hybrid vehicles.
Under the limited-time offer, eligible Costco members can purchase or lease a new Polestar 2 and receive $2,000 as an incentive. The car has an MSRP of $49,990.
Eligible buyers can also get a $1000 incentive on the Cadillac Lyriq, the Chevrolet Blazer EV, or the Chevrolet Equinox EV.
To be eligible for the incentives, buyers must have been a Costco member by April 30, and place their order by the end of July.
Similar incentives are also available on Volvo EVs and plug-in hybrids including model year 2024 and 2025 XC90, the most popular Volvo vehicle in the Costco Auto Program.
"Costco Auto Program recognizes that for many car owners, vehicles are an extension of their own personality and style," said Jay Maxwell, General Manager at Costco Auto Program. "Keeping this in mind, we are happy to offer savings on vehicles from four different manufacturers to help Costco members step into the hybrid or electric vehicle that best fits their lifestyle."
Why It Matters: The limited-time incentive is in addition to all available incentives for Costco members, implying that the final discount might be higher.
This is the first time the Costco Auto program has arranged for incentives to be available on vehicles from all four brands simultaneously.
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