Tag Archives: Erin Keating

Kelley Blue Book data reported today shows that the average transaction price (ATP) for a new vehicle in the U.S. was $48,623 in October, up from September and higher than year-ago levels. Incentives increased again as many automakers try to clear their inventory. The electric vehicle ATP dropped month-over-month, but was higher year over year, with incentives at their highest level this year.

“’Tis the season for automakers to make their final push for 2024 sales,” said Cox Automotive Executive Analyst Erin Keating. “While some automakers focus on managing production, many will likely maintain or even increase their seasonal incentives to attract buyers. With competition intensifying, these strategies will be crucial in maintaining market share and driving end-of-year sales. Our team is generally optimistic for new-vehicle sales to close out the year – extra incentives will certainly help.” Continue reading →