'The Trend Is Clear': How EVs Are Closing In On Gas Car Prices

According to Kelley Blue Book, in August the average price of a new EV in the US was $54,813 — only 9.4% higher than the average price of a new ICE vehicle ($50,089). A year ago the gap was 16%, and average EV subsidies fell from $8,200 to $6,600.

• Average new EV price in August was $54,813, down 2.7% year-over-year
• Average new ICE vehicle price rose almost 2% to $50,089
• EV subsidies fell from $8,200 to $6,600, but still double the industry average
• Price cuts are driven by affordable models Toyota bZ, Chevy Bolt, Hyundai Ioniq 5, and Subaru Trailseeker