Average New-Vehicle Prices Down 1.4% Year Over Year in October, as Healthy Inventories, Higher Incentives Help Buyers
New-vehicle incentives in October were down 2.2% from September, while new-vehicle incentives are higher year over year by 117%.
- New-vehicle incentives in October were down 2.2% from September, while new-vehicle incentives are higher year over year by 117%.
- Compared to one year ago, when incentives were near historic lows, average new-vehicle transaction prices in October were lower by 1.4%, or approximately $670.
- Year to date, new-vehicle transaction prices have fallen more than 3.5% as downward price pressure continues to favor buyers in the market.
- Still, even with the gains in October, average EV prices are down more than $13,000 year over year.