U.S. EV Prices Drop Significantly, Led by Tesla

Despite lower prices, electric vehicles remain more expensive than non-luxury cars, and tax burdens could affect some owners.

Average transaction price for new EVs in the U.S. dropped to $52,314 in February, marking a 12.8% decrease year-over-year.
Tesla's Model 3 and Model Y led the price decline, with the Model Y reaching its lowest recorded price.
Despite the price drop, EVs remain about 19% more expensive than mainstream non-luxury vehicles.
Some EV owners may face higher annual taxes and fees, especially those relying on public charging stations.
Efforts to restructure EV taxes and fees are seen as crucial for promoting wider EV adoption.