Here’s the latest update from one of radio’s largest ad categories: the average transaction price of a new vehicle is expected to reach an all-time high of $41,044 for July 2021. Transaction prices are trending to be 17% higher than they were in July 2020. While new-vehicle retail sales for the month of July are expected to grow from July 2020, it is a decline from 2019, according to a joint forecast from J.D. Power and LMC Automotive.
Inventory shortages are the cause for the July sales pace to weaken, but demand drove the average transaction price to over $41K