2026 Tesla Model Y. Photo: Kelley Blue Book The average new EV got cheaper in August, even as the average transaction price (ATP) paid for a new vehicle in the US climbed back above $50,000. New EV buyers paid an average of $54,813 in August, according to Kelley Blue Book. That was down 1.2% from July and 2.7% year over year. Meanwhile, the industry-wide ATP rose to $50,089 – up 0.5% month over month and 1.9% year over year. August was the first month in 2026 that the average new-vehicle price topped $50,000. That left EVs with a 9.4% price premium in August, down sharply from more than 16% a year earlier. In dollar terms, the average EV costs around $4,700 more than the average new vehicle – the smallest gap yet. Advertisement - scroll for more content EV prices also fell despite automakers pulling back slightly on discounts. Incentive spending averaged 12% of an EV’s transaction price in August, compared with 12.2% in July and 14.6% year over year. EV incentives were still nearly twice the industry-wide average of 6.5%. Tesla continued to pull down the overall EV average. Its average transaction price fell to $52,616 in August, down 2.4% from July and 3.4% year over year. Because Tesla still accounts for such a large share of US EV sales, its pricing has an outsized effect on the market as a whole. So, EVs haven’t reached price parity yet, but they’re moving closer while the average new car price rises. Read more: US EV prices are going back up as discounts shrink If you’ve ever considered going solar, make it easy by finding a trusted, reliable solar installer near you that offers competitive pricing by checking out EnergySage. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. Your personalized solar quotes are easy to compare online, and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. Stay up to date with the latest content by subscribing to Electrek on Google News. You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.