Q4 2024 New Vehicle Pricing Update
US
New-vehicle ATPs were $49,740 in December, an increase of 1.3% year over year and higher by 1.5% compared to November 2024.
- New-vehicle sales incentives in December were mostly unchanged from November, holding steady at 8.0% of ATP or approximately $3,958.
China - Last month, ATPs were higher thanks in part to notably strong sales of vehicles transacting for more than $80,000.
-December ATP for an EV was higher by 0.8% y/y, and higher month over month by 1.1%. With an average transaction price of $55,544 - Consumer sentiment improvement has led to an increase in prices
China
China’s auto market saw 227 models with price cuts in 2024, more than the 148 in 2023 and significantly higher than the 95 in 2022.
- For all the models with price cuts, the average reduction amounted to RMB 16,000, or 8.3 percent
- New energy vehicle (NEV) models saw an average price cut of RMB 18,000, or 9.2 percent. Conventional gasoline vehicles saw an average price reduction of RMB 13,000, or 6.8 percent.
*There wasn’t any source found reporting on developments in Europe