Tesla helped bring down EV average transaction prices nearly 18 percent year over year in July 2023 to $53,469 from $65,108 one year ago.
The past 12 months have been wild for electric vehicle prices as Tesla disrupted the market once again with its generous price cuts.that tracks monthly average transaction prices and how they compare to the previous month and the same month from a year prior shows the extent of these price cuts and how other automakers have reacted to Tesla's price reductions.
EV ATPs are down more than 19 percent from their recent peak of more than $66,000 just a little more than a year ago in June 2022.notes that the price declines in the EV segment have mirrored the inventory increases experienced by some automakers. At the end of July, the EV segment days' supply was near 100 days, while industry days' supply stood at 54 .
's lowest since April 2020, with the year-over-year ATP reduction being the largest among the automakers that are part of the study.estimates, the lower prices at Tesla are likely helping with sales volume, with the automaker reaching a record high volume of 59,813 units in July.
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