New Car Prices Down 3.5% in January: Kelley

By: James Hickey, Managing Editor, DigitalDealer.com

The U.S. new-vehicle market sales pace slowed in?January 2024, despite lower prices and higher incentives.

The new-vehicle average transaction price (ATP) last month was?$47,401, down 2.6% from?December 2023?and down 3.5% compared to?January 2023, according to an analysis by Kelley Blue Book .

Kelley experts noted inventory levels have been increasing for the past year, shifting the market to favor buyers who are enjoying more choices, more discounts and lower prices.

As a result, year-over-year price declines accelerated in January, as dealers and automakers pulled the discount lever in an effort to maintain the new-vehicle sales pace. Continue Reading>>

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