The average price of new electric cars continued to decrease in February, thanks in no small part to Tesla.
Gasgoo News "Kelley Blue Book" shows that driven by Tesla Model 3 and Model Y price cuts, U.S. electric vehicle prices fell by nearly 13% year-on-year in February.
The latest revised electric vehicle transaction price data from Cox Automotive and Kelley Blue Book show that the average selling price of an electric vehicle in the United States was $52,314 in February, down from the revised $54,863 in January.
In February, the transaction price of electric vehicles in the United States fell by 12.8% year-on-year, which accelerated compared with the 11.6% year-on-year decrease in January. Tesla Model 3 and Model Y are the two most popular electric vehicles in the United States, which to a certain extent have led to a general decline in the price of electric vehicles in the United States.
![Tesla Model 3 and Model Y take the lead in price cuts! 1]()
Hefty incentives and discounts on most electric models have also played a major role in driving down EV prices, with Kelley Blue Book estimating, for example, that Polestar's incentive package accounts for more than 10% of the average transaction price.
Stephanie Valdez Streaty, director of industry analysis at Cox Automotive, said: "While higher inventory levels and increasing competition are continuing to drive down the price of electric vehicles in the United States, it must be recognized that electric vehicle prices are still higher than mainstream non-luxury models. Nearly 19%."
Polestar, another EV-only automaker, also saw the average transaction price of its models go down to $56,180 last month, a decrease of 3.7% compared to January and 11.3% year over year.
The cheapest EV on the market remains the Nissan Leaf, which retails for $28,140 before taxes and fees (or up to $3,750 in tax credits), while the cheapest combustion car is the $16,695 Mitsubishi Mirage. Granted, the Mirage is smaller than the Leaf, but some people just need a simple form of transportation to get them to work every day.
So will it effect ev chargers?