The Average Transaction Price (ATP) for new electric vehicles (EVs) surged to $55,544 in December 2024, driven largely by a growing demand for luxury models and high-priced pickups. Reports indicate a year-over-year increase in ATP as sales of high-end vehicles rose, with full-size EV pickups like the Ford F-150 Lightning contributing significantly. Tesla's Cybertruck also helped boost its ATP by over 10% despite falling prices for older models, showcasing the evolving dynamics in the EV market, where luxury is becoming increasingly prominent and demand for higher-priced models persists.
The average transaction price (ATP) of new EVs reached $55,544 in December 2024, largely driven by luxury models and high-dollar EV pickups.
Despite a slight increase, the ATP growth does not stem from consumers simply spending more, but rather from a shift towards luxury and high-end pickups.
Sales of full-size EV pickups like the Ford F-150 Lightning increased significantly in 2024, helping push transaction prices to an all-time high across the EV category.
The Tesla Cybertruck's launch played a crucial role in elevating the company's ATP by 10.5%, alongside declining prices for older Tesla models.
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