Nutson's Auto News Weekly Wrap-up 2/11 2/17/2024
* Sales slow. The U.S. new-vehicle market sales pace slowed in January 2024, despite lower prices and higher incentives. According to an analysis by Kelley Blue Book, a Cox Automotive company, the U.S. new-vehicle average transaction price (ATP) last month in the U.S. was $47,401, down 2.6% from December 2023 and down a remarkable 3.5% compared to January 2023. The average price paid for a luxury brand vehicle in January was $60,978, down from $62,834 in December and the lowest average transaction price since the summer of 2021. At $44,052, non-luxury vehicle prices were lower in January 2024 by 2.1% year over year. The average price paid for a new electric vehicle in January 2024 was $55,353. Year over year, EV prices have tumbled 10.8%.