The average transaction price in the U.S. in April fell 0.03% to $48,275 car auto cars
for new vehicles sold in the United States in April fell slightly from March and for the second consecutive month, it remains below the average manufacturer’s suggested retail price.sold in the U.S. last month fell 0.03% from March to $48,275. While only a small decrease, figures from March and April represent a reversal from the previous 20 months where new vehicle ATPs were holding above the average MSRP.
More specifically, the ATP in April was $378 below the average sticker price whereas in April 2022, it was $600 above sticker, representing a piece of good news for those shopping for a new car.Kelley Blue Book’s data reveals that the ATP for non-luxury vehicles last month was $44,750. Interestingly, this is a $461 increase from March 2023 and a 5.2% increase year-over-year but remained $381 below the average MSRP.
The average price paid for a new electric vehicle fell even more considerably. The ATP of new EVs sold in April was $55,089. That is a 7.5% decrease or $4,464 less than in March and a huge $10,096 less than in April 2022.advertisement scroll to continue “New-vehicle transaction prices are trending downward in 2023, which should feel like a breath of fresh air to buyers following the last few years of low supply and rapidly rising prices,”research manager of Economic and Industry Insights, Rebecca Rydzewski said. “Now that inventory levels are starting to climb and manufacturers are increasing incentives, the market will respond accordingly.
The increased supply of new vehicles has also allowed car manufacturers to up incentives. Kelley Blue Book has revealed that incentives averaged $1,714 in April, a $170 increase over March and representing 3.6% of the average transaction price.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Average Canada home price is up more than $100,000 since JanuaryCanada\u0027s housing market sprang back to life in April with sales rising more than 11% from the month before and prices climbing. Read more
Read more »
Pacific Northwest heat could send temperatures up to 30 degrees above average, breaking recordsOfficials are sending warnings out to Pacific Northwest residents this weekend as temperatures in the region are expected to break records. FOX13
Read more »
The average cost of giving birth in the USThe cost of childbirth varies widely depending on where you live, but one thing is clear: having a baby in the U.S. — with or without health insurance coverage — is expensive.
Read more »
Average gas prices drop slightly in LA, Orange countiesThe average price of a gallon of self-serve regular gasoline in Los Angeles County dropped to $4.84.
Read more »
Average long-term US mortgage rate falls to 6.35% this week, lowest level in 5 weeksThe average benchmark rate has now edged lower seven of the last nine weeks since reaching a high for this year of 6.73% in early March.
Read more »
Fixing instead of replacing: Average age of vehicles on US roads hits a record highAmericans are keeping their cars longer than ever
Read more »