New-car prices hit $49,855 average in the US as dealer discounts shrink

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Average new-car prices climbed to $49,855, their highest point so far this year.

Incentives fell again as stronger sales helped dealers clear inventories faster.

Stellantis transaction prices jumped nearly 11 percent compared with last July.

Anyone hoping manufacturers might soften the blow of a big MSRP on the new car they’re considering might want to think again. Americans paid an average of $49,855 last month, the highest figure recorded so far this year, against an average MSRP of $51,621.

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An analysis from Cox Automotive, citing Kelley Blue Book data, puts the average transaction price up 0.2 percent from June and 1.9 percent from July 2025. That’s still below December’s record $50,612, but July usually brings a slight monthly decline rather than an increase.

Related: The Average Used Car Crossed $27,000 For The First Time Since 2023

As ATPs rose, incentives headed the opposite way. Automaker spending dropped to $3,192 per vehicle, equivalent to 6.4 percent of the average transaction price . That’s down from 7 percent in June and 7.3 percent a year ago, marking the second consecutive monthly decline and the lowest level since January.

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Why are automakers feeling less generous? Inventory is tightening. Available supply stood at 2.73 million vehicles heading into August, 3.5 percent below the previous month, while days’ supply dropped from 82 to 75. Buyers were simply taking vehicles home faster than manufacturers were replacing them.

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Cox Automotive

Some brands are experiencing inflation more than others. Stellantis ’ average transaction price reached $58,423, a hefty 11 percent increase from last July, with its Jeep brand up 10 percent alone. Lincoln jumped 13 percent to $77,714, while Porsche rose percent to a steep $129,423, KBB says.

There are at least some crumbs of comfort. Shoppers are increasingly gravitating toward cheaper categories such as compact cars and smaller SUVs, helping prevent the industry average from climbing even faster. Compact cars averaged $27,904, while subcompact SUVs came in at $31,052.

EV shoppers aren’t escaping either. Their average transaction price rose to $56,126 ,while previously juicy electric incentives dropped 24 percent from last year to $6,626. Tesla’s incentives alone fell nearly 34 percent year over year.

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All of which means you’re going to have to bring your best negotiating game to come away with much of a bargain if you’re planning on buying a new car this summer.

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Average Transaction Price By Automaker

Group July ’26 June ’26 July ’25 MoM %

Change YoY %

Change

BMW $72,435 $71,659 $70,213 1.1% 3.2%

Ford Motor Company $58,957 $57,550 $56,956 2.4% 3.5%

Geely Auto Group $62,404 $61,689 $59,604 1.2% 4.7%

General Motors $53,840 $54,532 $54,009 -1.3% -0.3%

Honda Motor Company $38,814 $39,091 $39,652 -0.7% -2.1%

Hyundai Motor Group $39,174 $39,232 $39,081 -0.1% 0.2%

Mazda Motor Corporation $37,349 $37,326 $37,214 0.1% 0.4%

Mercedes-Benz Group AG $72,159 $72,589 $72,789 -0.6% -0.9%

Renault-Nissan-Mitsubishi Alliance $38,657 $38,168 $36,037 1.3% 7.3%

Stellantis $58,423 $57,211 $52,788 2.1% 10.7%

Subaru Corporation $37,400 $37,275 $35,935 0.3% 4.1%

Tata Motors $102,695 $103,219 $106,904 -0.5% -3.9%

Tesla Motors $53,891 $53,107 $53,026 1.5% 1.6%

Toyota Motor Corporation $47,118 $46,962 $45,370 0.3% 3.9%

Volkswagen Group $58,141 $57,850 $56,644 0.5% 2.6%

Industry

Average $49,855 $49,758 $48,916 0.2% 1.9%

SWIPE

Average Transaction Price By Brand

Brand July ’26 June ’26 July ’25 MoM %

Change YoY %

Change

Acura $49,759 $49,712 $49,559 0.1% 0.4%

Audi $65,749 $66,330 $65,173 -0.9% 0.9%

BMW $74,376 $73,508 $72,462 1.2% 2.6%

Buick $36,901 $38,153 $34,846 -3.3% 5.9%

Cadillac $86,361 $85,647 $80,481 0.8% 7.3%

Chevrolet $48,990 $49,371 $49,113 -0.8% -0.3%

Chrysler $50,002 $49,145 $48,338 1.7% 3.4%

Dodge $53,124 $52,632 $50,693 0.9% 4.8%

Ford $58,373 $56,817 $56,434 2.7% 3.4%

Genesis $64,953 $64,586 $63,565 0.6% 2.2%

GMC $66,857 $67,529 $65,234 -1.0% 2.5%

Honda $37,760 $38,016 $38,751 -0.7% -2.6%

Hyundai $37,337 $36,821 $38,729 1.4% -3.6%

Infiniti $68,687 $69,302 $65,706 -0.9% 4.5%

Jeep $52,533 $52,954 $47,807 -0.8% 9.9%

Kia $38,812 $39,179 $37,173 -0.9% 4.4%

Land Rover $103,825 $104,238 $108,550 -0.4% -4.4%

Lexus $63,795 $63,751 $60,881 0.1% 4.8%

Lincoln $77,714 $73,063 $68,791 6.4% 13.0%

Mazda $37,349 $37,326 $37,214 0.1% 0.4%

Mercedes-Benz $72,159 $72,589 $72,789 -0.6% -0.9%

MINI $41,112 $41,004 $40,845 0.3% 0.7%

Mitsubishi $34,065 $34,626 $32,633 -1.6% 4.4%

Nissan $37,087 $36,796 $34,747 0.8% 6.7%

Porsche $129,423 $127,265 $118,963 1.7% 8.8%

Ram $67,523 $66,192 $63,401 2.0% 6.5%

Subaru $37,400 $37,275 $35,935 0.3% 4.1%

Tesla $53,891 $53,107 $53,026 1.5% 1.6%

Toyota $44,391 $44,296 $42,755 0.2% 3.8%

Volkswagen $39,164 $40,275 $40,561 -2.8% -3.4%

Volvo $62,442 $61,583 $58,623 1.4% 6.5%

Industry

Average $49,855 $49,758 $48,916 0.2% 1.9%

SWIPE

Average Transaction Price By Segment

Segment July ’26 June ’26 July ’25 MoM %

Change YoY %

Change

Compact Car $27,904 $27,976 $27,205 -0.3% 2.6%

Compact SUV/Crossover $37,745 $37,707 $36,742 0.1% 2.7%

Entry-level Luxury Car $61,290 $61,227 $57,749 0.1% 6.1%

Full-size Pickup Truck $66,980 $66,421 $65,158 0.8% 2.8%

Full-size SUV/Crossover $79,658 $79,478 $78,007 0.2% 2.1%

High Performance Car $137,740 $136,977 $133,136 0.6% 3.5%

High-end Luxury Car $125,485 $125,355 $116,534 0.1% 7.7%

Luxury Car $60,631 $60,908 $58,580 -0.5% 3.5%

Luxury Compact SUV/Crossover $52,215 $52,352 $51,775 -0.3% 0.8%

Luxury Full-size SUV/Crossover $102,725 $102,761 $98,335 0.0% 4.5%

Luxury Mid-size SUV/Crossover $74,742 $73,956 $73,559 1.1% 1.6%

Lux. Subcompact SUV/Crossover $42,541 $42,502 $41,645 0.1% 2.2%

Mid-size Car $34,194 $34,093 $33,865 0.3% 1.0%

Mid-size SUV/Crossover $50,144 $49,796 $48,955 0.7% 2.4%

Minivan $49,178 $48,952 $48,151 0.5% 2.1%

Small/Mid-size Pickup Truck $43,420 $42,985 $42,897 1.0% 1.2%

Sports Car $43,866 $45,569 $50,130 -3.7% -12.5%

Subcompact Car $36,657 $32,527 $24,019 12.7% 52.6%

Subcompact SUV/Crossover $31,052 $31,131 $30,701 -0.3% 1.1%

Van $63,379 $61,936 $60,816 2.3% 4.2%

Industry Average $49,855 $49,758 $48,916 0.2% 1.9%

SWIPE

Data: Cox/KBB, Image: Jeep