• Fleet sales are expected to total 198,412 units in October, down 12.1% from October 2024. Fleet volume is expected to account for 15.9% of total light-vehicle sales, down 0.9 percentage points from a year ago.
• Internal combustion engine (ICE) vehicles are projected to account for 79.2% of new-vehicle retail sales, an increase of 2.4 percentage points from a year ago. Plug-in hybrid vehicles (PHEV) are on pace to make up 1.0% of sales, down 1.4 percentage points from October 2024, while electric vehicles (EV) are expected to account for 5.2% of sales, down 3.4 percentage points year over year, and hybrid electric vehicles (HEV) are expected to account for 14.2% of new-vehicle retail sales, up 2.0 percentage points.
• U.S. final assembly vehicles are expected to make up 56.7% of sales in October, up 5.5 percentage points from a year ago.
• Trucks/SUVs are on pace to account for 82.3% of new-vehicle retail sales, up 1.3 percentage points from October 2024.
• Retail inventory levels are currently at 2.27 million units, an 11.5% increase from October 2024.
• The industry’s inventory days of supply is 61 days in October, up from 59 days a year ago.
• The average new-vehicle retail transaction price in October is expected to reach $46,057,up $994 from October 2024. Transaction price as a percentage of MSRP rose to 90.5%, up 0.7 percentage points from a year ago.
• Retail buyers are on pace to spend $46.1 billion on new vehicles, down $2.0 billion from October 2024.
• Average incentive spending per unit in October is expected to reach $2,674, down $444 from October 2024. Incentive spending as a percentage of the average MSRP is expected to decrease to 5.3%, down 1.0 percentage point from October 2024.
• Average incentive spending per unit on trucks/SUVs in October is expected to be $2,798, down $473 from a year ago, while the average spending on cars is expected to be $2,068, down $350 from a year ago.
• Leasing is expected to account for 20.5% of sales this month, down 2.7 percentage points from a year ago.
• The average time a new vehicle remains in the dealer’s possession before sale is expected to be 49 days in October, down from 50 days a year ago.
• 29.3% of vehicles sold in less than 10 days in October, down 1.8 percentage points from a year ago.
• Average monthly finance payments are on pace to be $758, up $21 from October 2024. The average interest rate for new-vehicle loans is expected to be 6.56%, down 0.14 percentage points from a year ago.
• So far in October, average used-vehicle retail prices are $29,446, up $473 from a year ago. Trade-in equity is trending towards $8,378, which is up $386 from a year ago.
• 26.6% of trade-ins are expected to carry negative equity this month—an increase of 2.2 percentage points from October 2024.
• Finance loans with terms greater than or equal to 84 months are expected to reach 11.8% of finance sales this month, up 2.2 percentage points from October 2024.