Average Price Paid For New EVs Down $3,600 In December 2022: KBB via insideevs.com
calculations, new-vehicle ATPs have been above the average manufacturer's suggested retail price , for more than a year. Prices remain elevated despite the fact that new-vehicle inventory levels are increasing from historic lows earlier in 2022.
Kelley Blue Book also notes that incentives increased last month to 2.7 percent of the average transaction price, compared to 2.2 percent in November. In December 2021, incentives averaged 3.8 percent of ATP, while in December 2019, before the pandemic and when inventory was plentiful, the average incentive package was 10.9 percent of ATP.
Unsurprisingly, EVs had the highest incentives in December at 6.2 percent of ATP – again influenced by changes at"Incentives overall are still very low but trending upwards. Electric vehicles and luxury cars had incentives close to 6% of ATP, and both saw ATP decline in December as a result. Plus, with the new tax credits on the way, electric vehicle ATPs will drop lower for qualifying vehicles.
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