New electric vehicles (EVs) experienced a slight price increase in April, with consumers observing fewer promotions compared to previous months, consistent with updated forecasts from Kelley Blue Book, a division of Cox Automotive.
By April, the average transaction price for a brand-new electric vehicle had surged to $59,255. The data shows a notable increase of 3.7% compared to the same period last year, with a slight edge over March’s figures, up just 0.2%. Kelley Blue Book revised its March estimate downward, pegging the average value at $59,132.
Cox Automotive government analyst Erin Keating notes that “since President Trump imposed auto tariffs 47 days ago, new car prices have consistently risen.”
During the same period, incentives experienced another decline. In April, Tesla’s share of common electric vehicle transactions shrank to 11.6%, a decline from their peak of 13.9% in November 2022. For the second consecutive month, electric vehicle (EV) purchase incentives have experienced a decline.
Tesla spearheaded a remarkable performance in May, boasting a record-breaking sales figure of over 45,000 electric vehicles, marking its highest achievement thus far. The majority of these robust sales figures originated from the cutting-edge Model Y, which has solidified its position as the top-selling electric vehicle in the US market. Tesla’s common transaction value surged to $56,120 in April, marking a consecutive increase month-over-month and year-over-year.
While the Cybertruck has held strong as one of the top-selling electric vehicles priced above $100,000, its median gross sales value stood at $89,247 in the most recent period. Despite a stellar year, gross sales of the divisive pickup plummeted below 2,000 units for the first time, hinting at a potential slowdown in demand.
According to Kelley Blue Book’s preliminary data, total new electric vehicle (EV) gross sales in April saw a decline of nearly 6% compared to the previous month of March. Despite a sluggish start to the year, electric vehicle (EV) gross sales have still managed a 5.4% increase year-to-date in 2025 compared to the same period in 2024.
Tesla’s Model 3 and Model Y prices surged higher in March as sales declined?
