EV prices are rising again as automakers pull back on discounts

For the first time in 2026, EV prices are rising.

In July, the average transaction price for a new fully electric vehicle jumped to $56,126, per Kelley Blue Book. That’s a 1.6% increase compared to the same month in 2025, and a 1.2% rise compared to June.

The increase breaks a monthslong trend. EV prices had been falling since December.

After the $7,500 federal tax credit for US-made clean vehicles expired in late 2025, automakers leaned more heavily on their own incentives to prop up EV sales amid declining demand. Those manufacturer discounts helped put downward pressure on EV transaction prices through the first half of the year.

Sam Abuelsami…

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