The paradox revolves around transaction prices. They were close to record levels in September. J.D. Power said the average new-vehicle transaction price is projected to reach $45,622, up 10.3% year-over-year. and the fourth-highest price ever. There is evidence of some consumer hesitation because of the mix of available vehicles, but it hasn’t been enough to change OEM incentive spending. Average incentive spending per unit is expected to total $936, down 47.8% year-over-year -the fifth straight month of sub-$1,000 average incentive spending per J.D. Power.