New car prices are climbing once again as the average transaction price jumped 2.2% to $48,510 in April. The figure reverses months of declines, but it’s important to note the number is still down 0.5% on a year-over-year basis.
That’s little consolation to buyers and Kelley Blue Book also found new vehicle incentives dipped. In particular, the average incentive in April was 6.3% of the average transaction price and that’s down from 6.6% in March. That being said, incentives have made a significant rebound since 2022 when there was a perfect storm of tight inventories and high demand for new vehicles.
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