In September 2023, the average price of a new electric car in the US dropped to $50,683, while a year earlier this figure reached $65,295. Government subsidies reduced the amount by $4,991, which is 9.8% of the final price. Compared to August of the same year, electric vehicles on average became cheaper by $1,529.
In addition to the price factor, a wider selection of models contributes to sales growth and lower costs. Over the past twelve months, 15 new electric models have entered the US market.
In the overall new car market in America, the average price decreased by only 0.7% over the year — to $47,899.
Tesla over the same period cut prices by 24.7%, outpacing Acura, Lexus, Infiniti, and Volvo in this indicator. In particular, the Model 3 sedan became more affordable by over 26% — its price dropped to $41,484.
However, not all brands made concessions: Audi and Porsche increased the cost of their cars by 8%, and Mercedes-Benz by 10%. In the mass-market segment, prices added 1% and amounted to $44,626.
