EV Transaction Prices Ease Down in September

Even with sky-high prices, more than 5,000 Tesla Cybertrucks were sold in September. - Photo: Tesla

Even with sky-high prices, more than 5,000 Tesla Cybertrucks were sold in September.

Photo: Tesla

Electric vehicle (EV) transaction prices in September were lower year over year by 0.9%, according to Kelley Blue Book data released this week.

At $56,351, the average transaction price for a new electric vehicle changed little from August and was higher than the industry-wide ATP by about 16%. The premium paid for an EV in September was at its lowest point in 2024. Through the end of Q3, the EV premium averaged 19%.

In September, incentive spending for electric vehicles also tracked well above the industry average, although incentives for electric vehicles declined month over month. September EV incentives averaged $6,904, or 12.3% of ATP, a 0.7 percentage point decrease from August, the highest point of 2024.

The average transaction price for a new Tesla — the top selling EV — declined in September compared to August but was higher year over year by 13.6% at $58,212.

ATPs for Tesla’s core volume models—the Model 3 and Model Y—were lower month over month in September, while transaction prices for the new Cybertruck continued to climb. 

Cybertruck ATPs hit $116,706 in September, the highest point since launch, according to Kelley Blue Book estimates. Even with sky-high prices, more than 5,000 Cybertrucks were sold in September.

Originally posted on Charged Fleet

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