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Vehicle Affordability – Price Increases Small as Incentives Grow
“Average transaction prices are rising 2 – 4% year-over-year across key vehicle segments, powered by a convergence of product cycles and supply dynamics,” said Erin Keating, Executive Analyst, Cox Automotive, the parent company of KBB. “Redesigned SUVs from Toyota, Kia, Jeep, and Hyundai are commanding higher prices out of the gate, while Ford’s F-Series production constraints are tightening truck inventory, lifting average transaction prices, with freshened Ram pickup stepping in to capture buyers at the premium end,” said Keating. Continue reading →