New-vehicle average transaction prices (ATP) surged 2.5% MoM in April to $48,699, a sharp jump amid tariff-driven demand, and the second-largest April increase in over a decade.

• April typically delivers a monthly increase of 1.1%. In the past decade, only April 2020 produced a larger month-over-month increase, at 2.7%.
• Industry-wide sales incentives dropped to 6.7% of ATP in April, down from 7.0% in March and the lowest since summer 2024.
• EV prices rose to a new high of $59,255 in April, up 0.2% MoM and 3.7% YoY, while incentives fell to 11.6% of ATP, the lowest since late 2023.
• Compact SUV prices were flat MoM and YoY at $36,416, but incentives declined to 7.8% of ATP from 8.2% in March.
• Tesla led EV sales with over 45,000 units sold, while the average ATP for Tesla rose to $56,120; Cybertruck ATP remained high at $89,247 despite falling below 2,000 units sold.
• Sales pace slowed from March but remained strong at 17.3 million SAAR, the best April performance since 2021.