New-Vehicle Prices, Volume Take Seasonal Dip
Settle in a normal January decline after particularly hot December sales.
The seasonal 2% month-over-month decline in the average transaction price to $48,641 followed December's near-record ATP.
Pexels/Sarmad Mughal
New-vehicle prices fell from December but were up year-over-year, according to a Cox Automotive estimate.
The seasonal 2% month-over-month decline in the average transaction price to $48,641 was a welcome dip, as December’s nearly $50,000 ATP approached the record.
But it reflected the normal January drop from more elevated December luxury vehicle sales and was more than 1% above the year-earlier ATP, said Cox, which also pointed to about a 1% decline in incentives.
The $3,486 average incentive package was still 29% above a year earlier at 7% of ATP.
Luxury brand sales fell dramatically in January from the December highs, some by over half, pushing down the ATP, Cox said. Overall sales also dipped 25% from December.
After the brisk December sales, January started off with new-vehicle inventory under three million units for the first time since October, Cox said.
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