MENU
SEARCHSlight incentives pullback pushes ATP to its highest of the year, but Cox expects them to resume along with inventory.
Inventory, which was flat for the month, is expected to resume its gradual rebuilding, and incentives will likely follow it, Cox said.
Pixabay/LuckyLife11
New-vehicle affordability waned in April as manufacturers took their feet off the incentive gas.
The average transaction price rose 2% to $48,510, according to Cox Automotive, which said that’s the highest ATP since December, though about flat, or a half percent, down from a year earlier.
April’s average incentive came in at 6.3% of the average transaction price, down just slightly from 6.6% in March for the first incentive drop since October, Cox said. It attributed the shift to a remove from automakers’ push for a strong finish to the first quarter.
Inventory, which was flat for the month, is expected to resume its gradual rebuilding, and incentives will likely follow it, said Executive Analyst Erin Keating.
New-vehicle sales fell month-over-month, in part due to fewer selling days, Cox said.
Luxury models helped pad the overall ATP as their transaction prices rose 2.4% month-over-month while their incentives fell more than 1%.
Originally posted on Auto Dealer Today
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →
Performance and profits start with people chosen and led the right way.
Read More →
Kerrigan metrics show there’s plenty of demand, though many sellers are waiting to pull the trigger.
Read More →
Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.
Read More →
Despite incentive spending not keeping pace with deliveries volume, consumers make their purchases ahead of tariffs impact.
Read More →
Hybrid solution combines benefits of reinsurance and dealer-owned warranty companies.
Read More →
Understanding how it plays into inventory risk management is an important consideration.
Read More →
Kerrigan Advisors poll shows percentage of retailers expecting lower profits, valuations is on the rise.
Read More →