• The average new-vehicle retail transaction price in April is expected to reach a monthly record $37,572. The previous high for any month, $37,966, was set in December 2020.
• Average incentive spending per unit in April is expected to fall to $3,191, down from $4,953 in April 2020 and $3,573 in April 2019. Spending as a percentage of the average MSRP is expected to fall to 7.5%, down 4.2 percentage points from April 2020 and down 1.5 percentage points from April 2019.
• Average incentive spending per unit on trucks and SUVs combined in April is expected to be $3,173, down $1,989 from a year ago and down $445 from 2019, while the average spending on cars is expected to be $3,219, down $1,049 from a year ago and down $247 from 2019.
• Consumers are on pace to spend $49.8 billion on new vehicles, the highest ever for the month of April, and up $27.7 billion from April 2020 and up $14.2 billion from April 2019.