In September, the Tesla Cybertruck average transaction price (ATP) rose to $116,706, the highest point since launch, according to Kelley Blue Book data released today.
And yet, even with sky-high prices, EV industry leader Tesla sold more than 5,000 Cybertrucks in September.
The ATP for a new Tesla declined in September compared to August but was higher year-over-year by 13.6% at $58,212. ATPs for Tesla’s core volume models – the Model 3 and Model Y – were lower month-over-month in September.
EV transaction prices in September overall were lower year-over-year by 0.9%. At $56,351, the average transaction price (ATP) for a new EV changed little from August and was higher than the industry-wide ATP by approximately 16%. The premium paid for an EV in September was at its lowest point in 2024. Through the end of Q3, the EV premium has averaged 19%.
In September, incentive spending for EVs also continued to track well above the industry average, although EV incentives declined month-over-month. September EV incentives averaged $6,904, or 12.3% of ATP, a 0.7 percentage point decrease from August, which was the highest point of 2024.
Kelley Blue Book notes that new vehicle transaction prices overall (both EVs and gas) have been steady through 2024, and higher incentive spending boosts sales volume. Cox Automotive executive analyst Erin Keating said, “We still believe there is potential for growth in the market for the rest of the year, but with the uncertainty of a national election around the corner and major weather events disrupting business, maybe a slow, steady pace is all we should expect.”
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Read more: In August, incentives for EVs were 80% higher than for gas cars
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