EV prices are rising again as automakers pull back on discounts
Car companies slashed thousands off their EV prices as consumer interest waned. Now, prices are slowly inching back up.
The average transaction price for electric vehicles rose for the first time in six months, according to Kelley Blue Book (KBB). In July, the average price reached $56,126, representing a 1.6% increase from July 2025. This marks the first upward adjustment in EV prices so far in 2026. The surge can be attributed to two primary factors: reduced inventory on dealership lots and higher gas prices.
For the first time in 2026, the average cost of purchasing a new fully electric vehicle increased compared to the same period in the previous year.
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