New EV prices edged up in October, but buyers still paid less than they did a year ago. The average transaction price for a new EV in the US was $56,220, up 1% from September and down 2.7% from October 2025, according to Kelley Blue Book, a Cox Automotive brand.
Across all new vehicles, the average hit a record $51,109, up 1.3% from September and 2.1% year over year, even as prices rose more slowly than they typically do in October.
EV incentives barely budged from September’s revised 11.2% of the average transaction price to 11.3% in October. That’s up from 10.3% a year earlier and well above October’s industrywide average of 6.8%.
Tesla’s average selling price fell from September to $54,194, but it was still up 1.2% year over year. The Cybertruck helped push that average higher. Cox Automotive estimates Tesla sold 1,914 Cybertrucks in October, its best month in more than a year, at an average price of $92,380.
That sales bump comes as Tesla prepares to end Cybertruck production at its Austin factory in mid-2027. Elon Musk said Tesla will dismantle the assembly line around June or July to make room for more Cybercab robotaxis.
Read more: EVs cost less than a year ago, but September brought a setback
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