New Vehicles Fall Below Manufacturer Price for First Time in Nearly Two Years
Transaction prices on new vehicles have dropped below the manufacturer sticker price in March 2023 for the first time in 20 months, with the first quarter seeing a downtrend in prices.
The average price paid for a new vehicle by Americans fell to $48,008 in March, which is $171 below the average sticker price, according to a press release on April 11 by automotive research firm Kelley Blue Book. This is the first time in almost two years that the average transaction price (ATP) of a new vehicle fell below the average maximum suggested retail price (MSRP). A year back in March 2022, the ATP was almost $1,000 above the MSRP….