[Auto] Average New Car Price Actually Drops, but It's Still over $48,000

[Teacher™]

What's this, an actual decline in the average new-vehicle transaction price (ATP)? Apparently, yes, said KBB, which reported that the ATP in March was down from the month before. It's been almost two years since that happened. The decline was only 1.1 percent, meaning the average price is still high, at just over $48,000. But it's the first sign that the relentless upward pricing pressure is starting to fade away. You can probably guess the reasons, which center on increased new-vehicle supply compared to the last few years of the global pandemic. And once shoppers have options, dealers can't use as many price-increasing tricks. It's been a while—20 months, to be exact—but the average price of a new car is once again below the official sticker price. For almost two years now, the average new car price has kept climbing and climbing, assisted by plenty of dealer markups that regularly reminded us that car shopping is a perfectly good way to get frustrated on a Saturday. But, according to data from Kelley Blue Book, the average new-car buyer paid less than the sticker price in March. As KBB's Twitter account said, "Whew." The average transaction price (ATP) for a new vehicle also dropped in March, down to a still-high $48,008. Compared to February, though, it's down 1.1 percent.

https://www.caranddriver.com/news/a43611570/average-new-car-price-down-still-high/