USA: Average price of a new electric car has fallen by $15,000 in the past year

RahulNagaraj · 19th October 2023, 16:29

According to a new report, the average transaction price (ATP) of a new electric vehicle in the USA has gone down by 22 per cent over the last 12 months.

The report states that the average prices of new EVs last year were around $65,295, which has since dropped to $50,863 last month - a significant $15,000 reduction. One of the main reasons for this is attributed to Tesla, which has aggressively reduced the MSRPs of its EVs on multiple occasions over the course of the year.

USA: Average price of a new electric car has fallen by ,000 in the past year-teslamodelx.jpg

Another factor is the availability of electric vehicles, which as measured by days' supply, is well above the industry average at 97 days, compared to ICE vehicles, which saw around 52-58 days of supply. Reports also link reduced average prices of EVs to the larger variety on offer compared to last year.

Stephanie Valdez-Streaty, Director of Industry Insights, Cox Automotive, stated, "EV sales continue to grow in the US, partly due to strong supply and more choice." She further added, "At last check, we had 15 new EV models for sale that were not available a year earlier. Better choices and more options are helping push prices lower and drive higher sales."

Reports also state that, in general, the ATP of a new car in the USA has gone down by 0.7% at $47,889.

Looking at brand-wise reports, the ATP of Tesla EVs has gone down by 24.7% over the last 12 months. However, brands like Audi & Porsche have increased the prices of their models by 8% in the last year, while prices of EVs from Mercedes-Benz have become 10% more expensive.

Source: InsideEVs

Link to Team-BHP news

inwester · 19th October 2023, 21:50

Quote:

Originally Posted by RahulNagaraj

One of the main reasons for this is attributed to Tesla, which has aggressively reduced the MSRPs of its EVs on multiple occasions over the course of the year.

This is the only one real reason I can think of.

ELON MUSK.

When I bought the Tesla Model Y in 2020, I paid $56,000 with options, before taxes.

A year later in 2021, same spec was around $60,000.

In 2022 it skyrocketed to over $71,000.

Now it's back down to $52,500.

There is a Google sheets on Reddit that tracks the price of all Tesla models if anyone is interested.

https://docs.google.com/spreadsheets...#gid=231426599

19th October 2023, 16:29	#1
RahulNagaraj Senior - BHPian Join Date: Mar 2021 Location: Bangalore Posts: 2,252 Thanked: 21,700 Times	USA: Average price of a new electric car has fallen by $15,000 in the past year According to a new report, the average transaction price (ATP) of a new electric vehicle in the USA has gone down by 22 per cent over the last 12 months. The report states that the average prices of new EVs last year were around $65,295, which has since dropped to $50,863 last month - a significant $15,000 reduction. One of the main reasons for this is attributed to Tesla, which has aggressively reduced the MSRPs of its EVs on multiple occasions over the course of the year. Another factor is the availability of electric vehicles, which as measured by days' supply, is well above the industry average at 97 days, compared to ICE vehicles, which saw around 52-58 days of supply. Reports also link reduced average prices of EVs to the larger variety on offer compared to last year. Stephanie Valdez-Streaty, Director of Industry Insights, Cox Automotive, stated, "EV sales continue to grow in the US, partly due to strong supply and more choice." She further added, "At last check, we had 15 new EV models for sale that were not available a year earlier. Better choices and more options are helping push prices lower and drive higher sales." Reports also state that, in general, the ATP of a new car in the USA has gone down by 0.7% at $47,889. Looking at brand-wise reports, the ATP of Tesla EVs has gone down by 24.7% over the last 12 months. However, brands like Audi & Porsche have increased the prices of their models by 8% in the last year, while prices of EVs from Mercedes-Benz have become 10% more expensive. Source: InsideEVs Link to Team-BHP news Last edited by RahulNagaraj : 19th October 2023 at 16:32.
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