New Electric Vehicle Average Prices Rise to $56,126

Average transaction prices for new fully electric vehicles rose to $56,126 in July 2026, according to data from Kelley Blue Book. This figure represents a 1.6% increase over July 2025 and a 1.2% increase from June, reversing a downward price trend that began in December.

The previous decline was driven by manufacturer incentives following the late 2025 expiration of the $7,500 federal tax credit for US-made clean vehicles. Market analysts now attribute the price hike to tighter supply as automakers discontinue specific products, alongside increased demand caused by high gasoline prices. While luxury segment purchases continue to inflate the average, several lower-cost models are expected to enter the market soon.

Upcoming affordable options include the Slate pickup truck, starting at $24,950, and the Ford Fathom, starting at $28,350. Additionally, Toyota and Subaru Corporation have introduced new electric vehicle lines with starting prices in the high $30,000 range.