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Pandemic-induced ATPs receding as inventories, incentives ascend.
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June conditions balanced between high prices, interest rates and rising income and incentives.
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June average price increase least since pandemic began, Cox says.
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Higher incentives, inventory drive demand as average price stays below MSRP.
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Robust demand and increased vehicle availability drive significant growth.
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Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
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Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.
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The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.
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J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
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