Tesla average transaction prices down 25% in a year, undercutting even some gasoline cars

But with Tesla's most recent price cuts, the base-level Model 3 sedan is now priced at a significantly lower $38,990. The. After the $7,500 federal tax credit, the Model 3 comes out to $31,490 while the Model Y could go for $36,490 — not to mention a slew of possible state incentives.

In Tesla's case, the trim level options could bring its average up or down, but its sticker prices are essentially its transaction prices. Just last month, the Model 3 saw an ATP of $41,484 — still substantially below the overall average — while the Model Y transacted, on average, for $53,069 , according to Kelley Blue Book. Those will likely shift with the latest cuts., but down almost 25% from a year earlier.

EV prices, in particular, have been up for debate. An EV changed hands for $50,683 on average last month — down from a whopping $65,000 just a year earlier.in EV prices overall. There are less expensive EVs on the market, but much of the new electric product thus far has been geared toward higher-end buyers.

The company's price cuts have been an effort to stoke demand as it sees incremental drops in market share as more electric competition enters the market. Tesla'sfirm may be losing money with each cut it makes, but it's all in the name of price parity. The closer the price EVs get to the price a car buyer would pay for an internal combustion engine vehicle, the more likely they are to consider going electric.

Source: Car News Wire (carnewswire.net)

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