Shulou(Shulou.com)11/24 Report--

CTOnews.com, Aug. 15 (Xinhua)-- Tesla reduced the price of his car by 20% in a year, while the overall transaction price of electric vehicles fell by about 18%, according to the latest data from Kelly Blue Book (Kelley Blue Book), a US auto data site.

Kelly Blue Book tracks average transaction prices and their comparisons with the previous month and the same period last year. Tesla's average transaction price in July was $54660 (CTOnews.com Note: currently about 397000 yuan), down 0.8 per cent from June ($55105). A year ago, in July 2022, Tesla's average transaction price was $68215, down 19.9% from a year earlier and the biggest drop among major car companies.

The second biggest drop was Honda, where the average transaction price fell 2.6% from July 2022 to July 2023.

The overall average transaction price of electric vehicles also continued to decline 0.4% month-on-month, slightly lower than the industry average of 0.7%.

In the past year, the price of electric vehicles has fallen from $65108 to $53682, a drop of 17.9%. "the price of electric vehicles continues to fall, again led by market leader Tesla," Kelly Blue Book wrote in a press release released by its data. The average transaction price of electric vehicles in July was $53469, down from $53682 in June and down from more than $61000 in January. Incentives for electric vehicles accounted for 6.7% of the average transaction price, or $3755, in July. The average transaction price of electric vehicles is more than 19% lower than the peak of more than $66000 reached in June 2022 more than a year ago. "

Tesla began to cut prices sharply in early 2023, which helped the company put pressure on industry competitors such as Ford, which also cut prices in order to remain competitive. " The decline in the transaction price of electric vehicles compared with the same period last year is mainly due to Tesla's sharp price reduction on his popular models, "said Rebecca Rydzewski, research manager of Cox Automotive." Tesla's price is nearly 20% lower than that of a year ago, and other electric vehicle models, such as Ford Fmur150 Lightning, have been following in Tesla's footsteps. Although automakers report losses in the electric vehicle business, they are still actively pursuing their electric vehicle growth strategy. "

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