June 16, 2024
News

ATP’s increase by 2.2% while credit availability declines

Challenges related to affordability became more pronounced as the average transaction prices for new vehicles reached their highest point since December 2023 in April. This increase was primarily driven by a decrease in incentives, coupled with a reduction in credit accessibility. The average transaction price (ATP) for new vehicles went up by 2.2% on a monthly basis, reaching $48,510, which represents a 0.5% decrease compared to the previous year, according to Kelley Blue Book. Despite […]

**FAQ**

1. What factors contributed to the increase in average transaction prices for new vehicles in April?
– The increase in average transaction prices for new vehicles in April was primarily driven by a decline in incentives and a decrease in credit access.

2. How much did the average transaction price for new vehicles increase by on a monthly basis?
– The average transaction price for new vehicles increased by 2.2% on a monthly basis in April.

**Conclusion**

The rise in average transaction prices for new vehicles in April, coupled with a decrease in incentives and credit access, has resulted in increased affordability challenges for consumers. It is important for consumers to carefully consider their budget and financing options when purchasing a new vehicle in order to make an informed decision.

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