The average price for a new electric vehicle (EV) in June reached $56,371, reflecting a 0.9% increase from May, according to Cox Automotive data (via @Tslachan). Despite this rise, June’s EV prices were 2.5% lower compared to the same month in 2023.
Since the spring, new EV prices have trended upwards, following a low of $53,235 in March. The market leader, Tesla, has played a significant role in this trend, with prices increasing 13% since January. While the prices for Tesla’s popular Model Y and Model 3 remained relatively stable in June, the introduction of the new Cybertruck has influenced the average transaction prices (ATPs) for Tesla vehicles.
Even more notable, is that in June, the Cybertruck was the best-selling vehicle priced over $100,000 in the U.S., with an average transaction price of $112,696 and over 3,200 units sold. I guess those that doubted the Cybertruck hype are definitely surprised by this stat.
The Cybertruck was also the best-selling U.S. electric pickup truck in Q2 as well.
Despite the rising prices, EV sales in the second quarter showed improvement over the first quarter and were up by more than 11% year over year. The quarter saw a record volume of 330,000 EVs sold in the U.S.
