Kelley Blue Book reports that new-vehicle prices in the U.S. dropped year over year by 0.4% in September, with the average transaction price (ATP) at $48,397.
Incentive spending rose for the third consecutive month, now representing 7.3% of the ATP, a notable increase from 4.8% in 2023.
Smaller, affordable vehicles like the Mitsubishi Mirage, Chevrolet Trax, and Toyota Corolla are helping keep prices stable. The shift away from high-priced segments, such as full-size pickups, is contributing to the decrease.
Electric vehicle (EV) prices also dropped slightly by 0.9%, with incentives remaining high. Tesla’s average transaction price for September hit $58,212, with the Cybertruck ATP climbing to $116,706. For more insights, visit Kelley Blue Book.
