February ATP Points Up Market Divide
Overall sales fell while $100K-plus models sold like hotcakes.

Sales of vehicles priced over $100,000 have spiked since the pandemic while the typical consumer is challenged by still-high average prices.
Pexels/Erik McIean
February’s new-vehicle market activity told a story of haves and have-nots, as sales fell amid still-high vehicle prices and loan rates while consumers with more means scooped up premium models in ever-growing numbers.
Cox Automotive data show the average transaction price rose 1% year-over-year to $48,039. Though that was down about the same amount from January, it’s still up 25% from February 2020, the last full month before the pandemic began in the West.
Despite incentives being up 19% year-over-year, sales were down 9% for the month, Cox said.
Some brands’ ATPs offered bright spots for the cost-conscious. Stellantis’ Chrysler, Dodge, Jeep and Ram ATPs fell sharply in February, noted Cox, which pointed out Jeep’s 11% year-over-year drop.
Meanwhile, 52,000 vehicles have sold at prices over $100,000 in the first two months of the year, up from 46,000 in the same period last year and from about 12,000 in 2020 for a dramatic 333% pop in the premium segment in five years. The Range Rover led the $100K club’s February sales, Cox said.
“While affordability is a challenge for many households, six-figure vehicles continue to sell well and have experienced a four-fold increase in sales volume since early 2020,” said Executive Analyst Erin Keating.
“The income divide remains a key issue for new-vehicle sales momentum, as the industry continues to count on high income households with prime and super prime credit scores to drive sales.”
The electric-vehicle ATP was up significantly more than the gas-powered equivalent to $55,273, Cox said, or a 4% year-over-year increase. The average EV incentive package was its highest in more than five years at 15% of ATP.
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Originally posted on Auto Dealer Today
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