Source: Gasgoo Author: Xing Yun
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According to foreign media reports, Kelley Blue Book showed that driven by price cuts of Tesla Model 3 and Model Y, 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 a 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.
Image source: Tasla
It is estimated that the transaction price of Tesla Model Y in February was US$49,363, the lowest price on record and a 16.2% decrease compared with February 2023. The transaction price of Model 3 in February was US$43,614, a year-on-year decrease of 12% and close to the lowest level in history.
Hefty incentives and discounts on most electric models have also played a significant role in driving down EV prices; Kelley Blue Book, for example, estimates that Polestar’s incentive package accounts for more than 10% of the average transaction price.
Stephanie Valdez Streaty, head of industry analysis at Cox Automotive, noted: “While higher inventory levels and increasing competition are continuing to drive down the price of EVs in the U.S., it is important to acknowledge that EVs are still nearly 19 % more expensive than mainstream non-luxury models.
