Chicago Auto Trade Association - Cox Auto Market Summary Reveals Downward Trend in New-Vehicle Transaction Prices

New Light-Vehicle Sales

August saw a notable increase in new light-vehicle sales, marking a significant month-over-month improvement.
New light-vehicle sales were up 7.6% year-over-year in August.
By volume, new-vehicle sales were up 11.2% month-over-month to the highest volume since March.
The August SAAR (seasonally adjusted annual rate) was 15.1 million, down 1.1% from last year and 4.5% from July.

Fleet Sales

Sales into fleet categories experienced a decline, contrasting with the overall market trends.
Sales into large rental, commercial, and government fleets were down 21.4% year-over-year.
Retail sales were estimated to be up 7.6% from last year, with an estimated retail SAAR of 12.7 million.

Vehicle Pricing

Vehicle pricing trends in August reveal shifts in transaction prices, manufacturer’s suggested retail price (MSRP), and manufacturer incentives. [Check back in the Newsroom tomorrow for the Kelley Blue Book average transaction price report.]
The average transaction price of a new vehicle in August declined 0.6% from July to $47,870.
The average price relative to the average MSRP was steady at 96.9%.
The average incentive spend from manufacturers increased 1.9% in August to $3,447, up 46% year over year.

Chicago Automobile Trade Association
18W200 Butterfield Rd.
Oakbrook Terrace, IL 60181
(630) 495-2282

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