New-Vehicle Sales Incentives Climb Higher in July, According to Kelley Blue Book Estimates - Cox Automotive Inc. (2024)

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Data Point

ATLANTA, Aug. 13, 2024– New-vehicle prices were lower year over year for the 10^th consecutive month in July. Higher inventory levels and higher incentives have shifted the U.S. auto market to favor buyers, but high loan rates and tight credit conditions continue to hold industry sales below potential.

In July, according to data released today by Kelley Blue Book, the average transaction price (ATP) for a new vehicle in the U.S. was $48,401. New-vehicle prices in July were mostly unchanged from the revised-lower June ATP of $48,424 (lower by $23) and last year ($106).