CONNECT WITH US
EV & Mobility

EV & Mobility

EVs cost less than a year ago, but September brought a setback

Electrek logo

Published on

Add as a preferred source on Google
EVs cost less than a year ago, but September brought a setback

New EVs still cost less than they did a year ago, but September brought buyers a double hit: higher prices and smaller discounts.

The average transaction price (ATP) paid for a new EV in the US rose to $55,879 in September, according to Kelley Blue Book, a Cox Automotive brand. That’s up about 2.4% from August’s downwardly revised average of $54,574.

Compared with September last year, though, EV prices were down 3%. Kelley Blue Book says a stronger mix of more affordable models helped lower the average.

So the longer-term picture is improving, even if September wasn’t a great month for bargain hunters.

The price premium for an EV over what Kelley Blue Book calls an “ICE+” model was 11% in September. That gap has stayed near 11% throughout 2026, down from an average of nearly 18% in 2025.

Automakers also pulled back on EV incentives. Discounts averaged 11% of the ATP in September – their lowest level this year and down from 14.2% a year earlier. (September 2025 was the last month before the $7,500 federal tax credit expired, so there were some great incentives on the table.)

At September’s average EV price, that works out to roughly $6,147 in incentives. That’s an industry average, so the actual offer will depend on the vehicle you’re shopping for. (The Polestar 4, pictured above, has a rebate of up to $25,000 off its MSRP of $56,400 to $57,800, until November 2.)

Across the broader new-vehicle market, average transaction prices rose for the fourth consecutive month.


Source link
Related Topics:EV & Mobility

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.