If you thought car prices were finally about to come down from their oxygen-deprived, Everest-level highs, you’re half right, but also wrong. The average transaction price (ATP) for new vehicles in the US has steadily increased this year and is 1.5% or $699 up from November 2023, now sitting at $48,724.

 

While this figure is lower than December 2022’s record-setting $49,926, it’s still the highest recorded so far this year. Some brands are riding this modest uptick, but others, including Mercedes-Benz, are watching their prices drop faster than a novice skater on thin ice.