Overview
- Buyers paid an average of $49,191 for new vehicles in January, the highest January on record and nearly 2% higher year over year, while the industry’s average MSRP reached $51,288 for a tenth straight month above $50,000.
- Average incentives fell to about $3,200 in January from roughly $3,774 in December, equal to around 6.5% of transaction prices as companies tightened offers.
- EV demand slumped to about 66,000 sales in January, down roughly 20% to nearly 30% from a year earlier, and EV incentives dropped to 12.4% of ATP from 18.3% in December.
- True entry-level new cars have largely vanished from the U.S. market, with the Mitsubishi Mirage discontinued and Nissan Versa production reportedly ended, and fewer than 4,000 subcompact cars sold in January.
- Porsche led brand pricing at an average $128,761, full-size pickups continued to command prices above $70,000 with strong volumes, and compact SUVs remained the value anchor around $36,000.