Overview

• Kelley Blue Book reports the September average transaction price reached $50,080, up 2.1% from August and 3.6% year over year.
• Electric vehicles set records with an estimated 11.6% share in September and 437,487 sales in the third quarter as buyers rushed to purchase before federal incentives expired.
• The average new-vehicle MSRP hit a record $52,183, while dealer and manufacturer incentive spending rose to 7.4% of the transaction price, or about $3,700.
• Luxury models remained a major driver, with more than 60 nameplates averaging above $75,000 and roughly 94,000 such vehicles sold, accounting for 7.4% of September sales.
• Affordability pressures intensified for lower-credit buyers, with subprime 60+ day delinquencies at 6.43% in August and average new-loan rates near 9% including roughly 18%–20% for deep subprime borrowers.