In March 2023, the average transaction price of a new vehicle in the US dropped below the MSRP for the first time in 20 months, as reported by Kelley Blue Book. The ATP in March was $48,008, a 1.1% decrease from the previous month, while still remaining 3.8% higher compared to the same period last year. Sales volumes increased 20% month-over-month and 8% year-over-year, attributed to improved supply, a better mix of lower-priced models, and strong fleet sales. That’s the good news.
Unfortunately, for EVs, the average price paid in March for a new EV increased by 0.5% compared to February 2023, reaching an average of $58,940. Despite Tesla cutting prices recently, the rise in EV prices is attributed to increased sales from Mercedes, Rivian, Lucid, and other brands, which offset the lower-priced Tesla products.
Let’s get those EV prices lower.
Don’t forget about our giveaway. We’ll pick a winner at the end of April. The winner gets to pick out any single item on Rivian’s Gear Shop for up to $50. To be entered, all you have to do is:
Make sure you are subscribed to the newsletter
Forward the newsletter to two friends and have them subscribe
In Other EV News
Chipotle has announced a new all electric restaurant design aimed at maximizing energy efficiency and utilizing 100% renewable energy. This initiative supports the company’s science-based targets to reduce greenhouse gas emissions 50% by 2030 compared to 2019 levels.
The launch of Genesis Home has been announced, which is an ecosystem that allows customers to electrify their homes. To streamline the home electrification process, Genesis Home pairs top products and pre-vetted installers with dedicated Energy Advisors who guide customers through the entire journey.
For more Electric Vehicle News and Autonomous Vehicle News, check out the rest of the free newsletter.
EPG is a staffing and recruiting company that is 100% focused on helping electric and autonomous vehicle clients hire the best people through their industry and product-specific expertise. To learn more, you can contact our CEO, Joe Rooney at Joe@EPGAmerica.com or schedule time on his calendar.