New-vehicle average transaction prices (ATP) in last month was $48,510, up 2.2% from last month, the highest price since December 2023.
Days’ supply increased to 74 days as sales decreased through the month of April.
Discounts and incentives in April dropped to 6.3% of ATP, the first decrease since October 2023.
3-Month Sales Trend*
Month
Avg. Daily Retail Sales
February
50,000
March
53,700
April
52,400
Average Transaction Price*
Month
Amount
February
$47,285
March
$47,218
April
$47,510
Days’ Supply*
Month
# of Days
February
76
March
72
April
74
Daily Holding Cost Per New Car*
Month
Amount
February
$7.60
March
$7.71
April
$7.74
Dealer Profit Per New Car**
Month
Amount
February
$2,574
March
$2,487
April
$2,588
OEM Days’ Supply*
Rebates & Incentives
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Average Blended Incentive is $3,465.
There are very few OEMs offering 0% APR or even supported rates below 2.9% currently.
The average new car loan is currently 9.74%, which is near a 24-year high.
Inventory levels remain abundant across most segments providing options to consumers while also offering attractive incentives.
Full-Size Pick-up Segment
Sales were proportionate to March and remained mostly consistent over a 6-moth average while active supply continued to increase slightly for April.
Mid-Size SUV Segment
All models were up from the start of 2024.
“With the impact of tax refund season effectively over, the vehicle market is seeing declining sales momentum. The next few weeks and months could be challenging if consumers en masse believe that they are better off waiting.”
