Average New-Vehicle Prices Down 1.4% Year Over Year in October, as Healthy Inventories, Higher Incentives Help Buyers

The average transaction price (ATP) for a new vehicle in October 2023 was $47,936, a 1.4% decline year over year; ATPs are down 3.5% from January. New-vehicle incentives in October were down 2.2% from September, while new-vehicle incentives are higher year over year by 117%. Tesla…