New-Car Prices Virtually Flat Year Over Year in August Due to Declining Electric Vehicle Prices, Tesla Price Cuts, According to Kelley Blue Book
Tesla price cuts continue to lead electric vehicle (EV) prices lower.
- Tesla price cuts continue to lead electric vehicle (EV) prices lower.
- The average transaction price of a new vehicle in August was $48,451, up only $42 from one year ago, according to Kelley Blue Book, a Cox Automotive company.
- Led mostly by aggressive price cuts from Tesla, luxury vehicle prices last month were down 3.3% year over year.
- For comparison, Kelley Blue Book estimates incentives averaged 10.8% of ATP in August 2020 and 10.5% in August 2019.