New-vehicle average transaction prices (ATP) held steady in May at $48,799, virtually unchanged from April’s $48,811, and up 1.0% YoY.

• EV ATP dropped to $57,734 in May, down -2.3% MoM and -1.1% YoY, while overall industry incentives rose slightly to 6.8% of ATP from 6.7% in April.
• The new-vehicle sales pace declined to 15.6 million SAAR in May, down from 17.3 million in April.
• Average MSRP increased to $50,968 in May, a new high for 2025 and up 2.1% YoY.
• Compact SUV ATP was $36,515 with incentive spending rising to 8.0% of ATP from 7.9% in April.
• Prices for small/mid-size pickup trucks rose 0.9% MoM to $42,062, while incentives edged down to 5.9% of ATP.