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Stay up to date with the latest content by subscribing to Electrek on Google News. You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews. [...] That’s still down 46.9% from last August, when buyers were still rushing to claim the federal $7,500 EV tax credit, but there’s some good news.
According to Cox Automotive’s August EV Market Monitor, new lower-priced electric models helped drive growth last month while narrowing the price gap with gas-powered vehicles even further.
Advertisement - scroll for more content [...] The average transaction price (ATP) for a new EV fell to $54,754 in August, down 1.3% from July and 2.8% from the year prior.
The price gap between EVs and gas cars narrowed to $4,847, or 9.7%. Cox Automotive said the lower ATP was mainly due to higher sales of lower-priced EVs such as the Toyota bZ, Chevrolet Bolt, and Toyota C-HR, as well as the Tesla Model 3, whose ATP dropped 1.9% from July.
EV-ATP-price-August-2026
New EV ATP in August 2026 (Source: Cox Automotive)
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