New-vehicle average transaction prices (ATP) rose 0.4% MoM and 1.2% YoY in June 2025 to $48,907, the highest YoY gain this year but still below the 10-year average of 3.9%.

• Incentive spending rose to 6.9% of ATP in June (vs 6.8% in May), up from 6.5% a year ago, as inventory climbed to 82 days from 72 in May.
• The new-vehicle sales pace slowed slightly to 15.3 million SAAR from 15.6 million in May.
• The average MSRP rose to $51,124 in June (+2.3% YoY), the second-highest on record, outpacing ATP gains and squeezing dealer margins.
• EV ATP dropped to $56,910 (–0.6% MoM, –2.8% YoY), while EV incentives hit a record 14.8% of ATP (≈$8,400).
• Tesla’s ATP declined to $54,989 (–0.5% MoM, –5.7% YoY); Model Y ATP dropped to $53,224 as Tesla sold 25,095 units in its strongest month of 2025.