Sales incentives were up 136% year over year in November, indicating the new-vehicle market is shifting to a buyer’s market, not a seller’s market.
Compared to the start of the year, transaction prices for new vehicles are down 1.7%, or $865, the largest January to June tumble in the past decade.
The average price for a new vehicle in March fell below sticker for the first time in 20 months, according to KBB.
Average transaction prices are still $310 over average MSRP, though that’s down from the $900 above sticker for January 2022, according to Kelley Blue Book.
According to Kelley Blue Book, the growing electrified vehicle segment far outpaces the rest of the industry in Q3 2022, with record sales in the U.S. market.
According to data from Kelley Blue Book, the average transaction price (ATP) for a new vehicle surpassed the $48,000 mark in June, the highest ATP on record.
This year, Ford and Toyota pickup trucks were awarded top honors in their respective categories.
For the first time in a decade, vehicle buyers were essentially paying sticker price (MSRP) for new vehicles.
New-vehicle prices increased $749 year-over-year in July, while decreasing $473 from the previous month, and the average transaction price for light vehicles in the United States was $38,378.
The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the United States was $38,393 in November.
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