EV prices rise to $56,126 in July as incentives fall

New-vehicle prices hit 2026 high of $49,855 as buyers shift to cheaper models

EV incentives fell to $6,626 in July, down 9.1% from the previous month and 24.3% from July 2025, according to Kelley Blue Book. Incentives stood at 11.8% of the average transaction price, down 15.8% from a year earlier but still above the industry average of 6.4%, the Cox Automotive brand said.

The two months of rising EV prices mark a turn after a year of declines that had pushed prices lower for much of 2025. The July figure was up 1.6% from the same month a year earlier, the first positive year-over-year reading since December.

Across the broader market, new-vehicle prices hit their highest level of the year in July, rising to $49,855, Kelley Blue Book said. The manufacturer’s suggested retail price for new vehicles rose to $51,621 in July, a 1.9% increase year over year, the Cox Automotive brand added.

“New-vehicle sales in July were lower year over year by 1.5% and mostly flat compared to June, as the market slowed, and buyers continued to migrate to lower-priced vehicles,” Kelley Blue Book said. Sales mix is keeping industry average prices lower, as segments including subcompact SUVs, compact cars, and mid-size cars saw year-over-year sales gains in July, the firm said.

Elsewhere in the auto and transport sector, Daiwa analysts said the humanoid-robot industry is moving toward initial commercialization. They noted that Schaeffler has secured a humanoid-robot order book of 350 million euros as of June from three global original equipment manufacturers across seven products, including an order from XPeng IRON for which production will start from the fourth quarter. Schaeffler has also held discussions with more than 45 global manufacturers of humanoid robots, Daiwa said, viewing that as strong evidence the industry is moving from sample testing toward nominated production programs. The 350 million-euro order could translate to around 20,000 humanoid robots, assuming an average selling price of $75,000 per robot with a 45% gross margin, and that Schaeffler supplies 50% of the cost value, the analysts added.

Oil prices extended the previous session’s gains as talks to reopen the crucial Strait of Hormuz waterway hit an impasse. In early European trading, Brent crude rose 2.1% to $89.61 a barrel, while WTI futures rose 2.2% to $83.90 a barrel after settling 5% higher on Monday. “The pattern keeps repeating — initial enthusiasm when negotiations appear promising, only for that optimism to dissipate just as quickly,” analysts at ING said. “Yet the oil market remains very headline-driven, which leaves prices whipsawing.”

In shipbuilding, Maybank Research analyst Hussaini Saifee said Yangzijiang Shipbuilding’s upward cycle may be longer than previously expected, citing strengthening newbuild demand and a firmer pricing outlook. Large containership inquiries have re-accelerated together with continuing tanker and gas-carrier demand, while 2029 slots are nearly full, the analyst said. Maybank Research lifted its 2026-2028 forecasts for the Singapore-listed shipbuilder’s net profit after tax by 12%-19%, raised the stock’s rating to buy from hold, and raised the target price to 5.00 Singapore dollars from 4.15 Singapore dollars. Shares were 10% higher at 4.62 Singapore dollars.

CGS International analysts also remained bullish on Yangzijiang, citing its high earnings visibility and US$22.4 billion order book. The brokerage raised its 2026, 2027 and 2028 shipbuilding segment gross margin estimates to 37%, 35% and 33%, respectively, from previous forecasts of 35% in 2026, 32% in 2027 and 31% in 2028. CGSI lifted its target price to S$5.75 from S$5.10 and reiterated its add rating. Shares rose 8.6% to S$4.56, leading gains on the benchmark FTSE Straits Times Index.