EV prices edged down in February, while gas-powered car prices crept up, narrowing the gap between the two, according to new estimates from Kelley Blue Book.
The average transaction price (ATP) for a new EV in February was $55,300. That’s down 1.4% year-over-year and 0.6% lower than in January.
As a result, the price gap between EVs and ICE vehicles narrowed to around $6,500, one of the smallest gaps on record.
Automakers boost incentives
Automakers leaned harder on incentives to move EVs in February. The average EV incentive package rose from 12.4% of the vehicle’s transaction price to 14.2%.
That’s more than double the incentives offered across the overall auto market, showing that automakers and dealers are still using aggressive discounts to keep EV sales moving.
Tesla prices rise, but sales slip
Tesla, still the leading EV automaker in the US, moved in the opposite direction on pricing.
Tesla’s average transaction price rose to $53,821 in February, up 3% year-over-year.
But sales declined. Kelley Blue Book estimates Tesla sold about 38,500 vehicles in February, down 8.9% year-over-year. It was Tesla’s lowest monthly sales figure since late 2021.
Even so, Tesla still outperformed the broader EV segment. Overall EV sales fell by about 26% year-over-year in February, according to estimates.
Read more: Tesla pushed EV prices lower in January, but sales kept sliding
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.
FTC: We use income earning auto affiliate links. More.
![This Hyundai SUV is electric and thought to be the IONIQ 1 [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2026/02/Hyundai-IONIQ-1-EV-front.jpeg?resize=1200%2C628&quality=82&strip=all&ssl=1 "This Hyundai SUV is electric and thought to be the IONIQ 1 [Video]")
