EV prices rose for the first time in 2026, and the discounts are why

This article was published on August 14, 2026 The average EV sold for $56,126 in July, the first increase of 2026, and the reason is a discount that shrank rather than demand that recovered The average US electric vehicle sold for $56,126 in July, up 1.6% on a year earlier and the first rise of 2026, according to Kelley Blue Book. Automakers cut EV incentives by 24.3% year on year after pulling models and shrinking supply. The average electric car in the United States sold for $56,126 in July. That is 1.6% more than a year earlier and 1.2% more than June, and it is the first increase of 2026 after prices had fallen every month since December, according to Kelley Blue Book. The sticker is not what moved. Manufacturer discounts on EVs fell to $6,626 in July, down 24.3% on the same month last year, so buyers simply paid closer to the asking price. Electric cars are still discounted far harder than anything else on the forecourt. Incentives run at 11.8% of the transaction price against 6.4% across the industry, with Tesla at 10.4%. Automakers can pull back because they cut supply first. A dozen EV models have been discontinued in the US this year as tariffs, the lost tax credit and imp