Prices of Tesla electric vehicles have been slashed by more than one-fifth year-over-year, while the entire EV industry has slashed prices by over 10 percent.
Although the U.S. new vehicle market slowed down in terms of sales in January, prices are lower, and incentives are higher, meaning things should pick up as the year goes on.
For EVs, the average transaction price managed to drop 10.8 percent in January 2024 compared to the same month a year prior. At $55,353, it was a considerable drop but a slight increase from the $53,611 in December, which was the lowest point in the past 12 months.
Tesla’s massive price cuts have been the main trigger to the substantial drop in the EV sector overall, Mark Strand, Senior Director of Business Intelligence at Cox Automotive, said.
“First and foremost, the overall narrative is unchanged – EV prices have come down significantly in the U.S. in the past year, led by price cuts at Tesla. Our newly revised EV pricing data more accurately reflects the real-world pricing of electric vehicles in the U.S. With new EVs launching into the market seemingly every month, our pricing models have to be continually updated and revised to capture a clear picture of the market.”
The Model Y’s price has dropped more than 21 percent in the past year, going from an average of $63,000 to $50,000.
Another trigger to lower average transaction prices has been incentives, which have more than tripled in the past year.
Cox uses the example of the Volkswagen ID.4, which carried an average incentive package of roughly 6 percent. However, last month, that jumped to nearly 17 percent per transaction.
According to the data table shared by Kelley Blue Book, Tesla’s average transaction price has gone from $62,350 to $49,518. Those prices represent January 2023 and January 2024, respectively.
Across the entire automotive industry, prices have dropped around $1,600 as a whole, roughly 3.5 percent.
I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
ivermectin 6 mg otc – buy tegretol paypal carbamazepine 400mg sale
how to buy isotretinoin – linezolid 600 mg for sale order generic zyvox 600mg
buy amoxil pill – cost diovan 80mg purchase combivent pill
buy azithromycin online cheap – tindamax 500mg drug order bystolic 5mg generic
buy omnacortil tablets – prednisolone 10mg us progesterone pills
buy lasix generic – furosemide 100mg usa betamethasone 20gm sale
buy clavulanate online cheap – order cymbalta 40mg generic cymbalta canada
order tizanidine without prescription – order microzide generic cheap microzide 25mg
tadalafil 40mg cheap – order cialis pills viagra 50mg pill
viagra sildenafil 100mg – viagra 25mg buy tadalafil 40mg generic
cenforce us – cenforce 50mg pill purchase glycomet
omeprazole pills – order lopressor 50mg online tenormin where to buy
medrol 16 mg tablets – medrol medication aristocort price
buy desloratadine pills for sale – buy generic loratadine for sale priligy cheap
order misoprostol generic – xenical 120mg drug buy diltiazem without a prescription
acyclovir 800mg without prescription – order generic zovirax order rosuvastatin for sale
motilium 10mg cost – buy tetracycline generic brand flexeril