Despite recent drops, new-vehicle prices are still up 15.5 percent versus March 2021
Transaction prices at lowest since point since December 2022. Prices are still much higher than they were in March 2021. EV prices rose in March when Tesla raised the price of the facelifted Model 3. The scars from all that pandemic-era price gouging are healing up and we’re getting back to a level market where Americans can buy a new car without feeling like they’re being scammed. The latest sales data shows that new-car transaction prices are at the their lowest level for almost two years.
Much of that drop can be attributed to Tesla’s price cuts, which account for one quarter of all EV prices, but increased prices for the recently facelifted Tesla Model 3 were also responsible for a small rise in EV transaction prices from $53,707 to $54,021 between February and March. KBB noted that while overall transaction prices for new cars had dropped, buyers had fewer genuinely affordable vehicle options than ever before.
New Cars Prices Reports Sales Study Tesla USA
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