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