New EV prices ticked up in September and the discounts got thinner, according to Kelley Blue Book, so the deal you see this month is probably a bit worse than August's. The average new EV in the US sold for about $55,900, up slightly from August.
Kelley Blue Book is a Cox Automotive brand, and its numbers track what buyers actually paid, not sticker prices. Zoom out and the picture looks better: that average is about 3% below a year ago, which the firm credits to a stronger mix of cheaper models.
Automakers pulled back on incentives
Discounts averaged 11% of the transaction price, the lowest this year and well down from a year earlier. There's a catch in that comparison. That month was the last before the $7,500 federal tax credit expired, so incentives then were unusually rich, and this year's pullback looks sharper for it.
Some deals are still big. Polestar is offering up to $25,000 off its 4 SUV through early November. That's one brand's push, not a market-wide trend, so check the model you actually want.
Tesla and the wider market
Tesla (TSLA) saw its average price climb from August to about $54,300, only slightly above a year ago. The Model 3 and Model Y made up nearly all of its sales. Across all new vehicles, average prices climbed for a fourth straight month.
One month isn't a trend, and the source doesn't say whether the incentive pullback will continue. October data will show whether this discount pullback continues through year end.
Sources
Reported by the WattsUpNext desk from the sources linked below. Spot an error? Tell us at corrections@wattsupnext.com.
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