Electrek reported on Tuesday that electric vehicle (EV) prices in the U.S. market showed signs of stabilization in January.
Kelley Blue Book, a respected automotive research firm, reported that the average transaction price for EVs in January reached $55,614. This figure represents a slight uptick from December but a 1.4% decrease compared to last year. Interestingly, while EV sales incentives dipped 3.1% from December, they surged by an impressive 48.6% year over year.
Overall, the cost of EVs is showing a downward trend. Although EVs still command a 14.3% premium over the broader automotive market, this gap has narrowed significantly from 17.4% a year ago.
Tesla’s Cybertruck saw its price drop 6.5% year over year, now below $98,000, while the Model X also experienced a price reduction. On the other hand, the most popular EVs in the United States, Model Y and Model 3, recorded transaction price increases of 2.2% and 6.2%, respectively. Tesla’s average transaction price rose 4.5% from last year to $55,380.
While January’s total new vehicle sales climbed 5.1% compared to the previous year, they fell more than 25% from December’s robust performance. New vehicle inventory dipped below 3 million units in early January for the first time since late October.
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