Lexus Responds To EV Price Wars With Whopping RZ Discount

Lexus is offering some enticing deals on its fully electric RZ crossover this month, and if any model needed a discount, it's this one. When theLexus RZarrived, welamented its high starting price, especially since it doesn't qualify for a tax credit like itsTesla Model Yrival.

The starting price of around $60,000 undermined an otherwise excellent luxury crossover, but customers can now get up to $10,000 in lease cash for a new RZ this month.

CarsDirectspotted a bulletin sent to dealers outlining this saving and other incentives for the RZ this month. As reported by the publication, this is the largest RZ discount so far and marks a shift in the automaker's approach to pricing. Obviously, Lexus feels compelled to respond to theEV price wars initiated by Tesla.

When combined with the Clean Vehicle Rebate in California, it's possible to save up to $12,000 when leasing the RZ, making for a far more appealing purchase than before. Previously, leasing a 2023 RZ on the East Coast would've cost $789 per month over 36 months with $4,999 due initially. But the latest bulletin shows a monthly cost of $699, down by $90/month. In Los Angeles, the lease cost is nearly $200 less ($599/month) than it was previously, making the RZ just $24/month more expensive than leasing the Model Y there. In short, the RZ is a far better lease deal right now than it was.

Currently, buying a new RZ will cost you $59,650 for the base Premium or $65,150 for the Luxury. Both models have the same dual-motor, all-wheel-drive setup with 308 horsepower. It's quick, but not the quickest EV around.