The new-vehicle average transaction price (ATP) in July 2025 was $48,841, down -0.1% MoM but up +1.5% YoY, the largest annual gain of 2025, with incentives rising to 7.3% of ATP ($3,553), the highest this year.
- New-vehicle MSRPs fell -0.3% MoM but rose +2.4% YoY, outpacing ATP gains; Cadillac, Land Rover, and Infiniti posted double-digit YoY ATP gains, while Jeep’s ATP dropped -12% YoY to $47,275, its lowest since fall 2021.
- EV ATP fell -2.2% MoM and -4.2% YoY to $55,689; Tesla’s ATP declined -2.4% MoM and -9.1% YoY to $52,949, with higher incentives and a greater share of Model 3/Y sales.
- EV incentives hit a record 17.5% of ATP, over 40% higher YoY, ahead of the Oct. 1 sunset of federal support.
- July EV sales topped 130,000 units (+20% YoY), the second-best month on record, driven by urgency before incentive expiration.