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Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
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NASCAR Driver Toni Breidinger teams up with Kelley Blue Book to test top award winner.
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Figures based on latest Kelley Blue Book average transaction price data.
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Highly successful Upside Direct weekend event sales have delivered significant value to sellers while giving buyers access to even more inventory to bid on and buy.
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According to Kelley Blue Book, new-vehicle buyers remain in an “over sticker” market, paying above MSRP every month this year.
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With low inventory and high demand, incentives dropped to a record low in June, averaging only 2.3% of the average transaction price.
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High gas prices lead more shoppers to consider traditional sedans and hybrids in the first quarter of 2022, likely benefiting Toyota.
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Luxury vehicle share rose to 17.4% of total sales in April, up from 16.7% of total sales in March, helping push overall average transaction prices up.
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The team at Kelley Blue Book has assembled two broad reports from the first quarter: One is a look across industry-wide U.S. sales in Q1, the other a narrow review of electrified vehicle sales in the U.S., the combined sales of hybrids, plug-in hybrids and EVs.
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With low inventory and high demand, incentives dropped to a record low in March, averaging only 3.2% of the average transaction price.
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