Details
• The average new-vehicle retail transaction price in June is expected to reach $45,978, flat from June 2022. The previous high for any month at $47,362was in December 2022.
• Average incentive spending per unit in June is expected to reach $1798, up from $918 in June 2022. Spending as a percentage of the average MSRP is expected to increase to 3.7%, up 1.7 percentage points from June 2022.
• Average incentive spending per unit on trucks/SUVs in June is expected to be $1,649, up $949 from a year ago, while the average spending on cars is expected to be $1,393, up $597 from a year ago.
• Retail buyers are likely to spend $47.9 billion on new vehicles, up $6 billion from June 2022.
• Truck/SUVs will account for 77.7% of new-vehicle retail sales in June.
• Fleet sales are expected to total 275,900 units in June, up 54.5% from June 2022 on a selling day adjusted basis. Fleet volume is expected to account for 20% of total light-vehicle sales, up from 16% a year ago.
• Average interest rates for new-vehicle loans are expected to increase to 7.0%, 194 basis points higher than a year ago.