TAG SEARCH RESULT: new-vehicle sales

May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.

Less price-sensitive buyers splurged for the latest models in April, with the industry’s average transaction price rising 2% from a year ago despite rising fuel prices.

Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.

December’s average transaction price for a new vehicle rose nearly 2% from a year ago to a record high of $36,113, the firm reported last week.

Total new-vehicle sales didn't grow for the first time since the Great Recession, but the American International Automobile Dealers Association said last week its member dealers remain optimistic about 2018.

The fourth-quarter reading of the Cox Automotive Dealer Sentiment Index shows dealers are optimistic about the next three months. Concerns about price pressure and showroom traffic persist.