KBB: Electric Vehicle Prices Fell 15% In Nov.
Electric vehicle prices fell 15% in November, while new vehicles arriving to market helped General Motors, Toyota, Jeep, and others enjoy a strong month of sales, Kelley Blue Book reported.
The average price of new-vehicle transactions rose $946 per transaction (or 1.1%) to $32,769 for light vehicles compared to the same month last year. The average sale price rose 3% from October, according to Kelley.
Toyota saw the strongest increase (5%) thanks to sales of its redesigned 2014 Corolla and double-digit gains for the all-new Lexus IS sedan. General Motors benefited from strong demand for its redesigned 2014 Silverado pickup truck.
"Transaction prices continue to rise as consumers look for newly introduced or redesigned models as well as crossovers and pickup trucks," said Alec Gutierrez, a senior analyst with Kelley.
Automakers have been cutting prices on electric vehicles. Dodge saw a price drop from its high-volume Dodge brand.