Cox Automotive reported that the average transaction price (ATP) for electric vehicles fell to $54,508 in March, narrowing the gap with internal-combustion vehicles to about $5,800.
EV ATP declined 2.8% for the third consecutive month while ICE ATP rose to $49,275, up 3.5% year-over-year; automakers also boosted incentives, with EVs averaging 14.6% of ATP—about $8,000.
Tesla, Inc.'s ATP was $53,421 in March, down 2.6% year-over-year and 1.2% from February, with incentives rising to 12.3% and U.S. sales falling 8.4% year-over-year, Cox Automotive said.
Average MSRP remained above $50,000 at $51,456 for the 12th straight month, up 3.9% year-over-year, and Cox Automotive reported that every vehicle segment saw year-over-year transaction price increases.
This article is based on reporting from Jalopnik.
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