Lincoln Average Transaction Price Up One Percent In February

After years of steady increases, the average transaction prices of new vehicles have begun to decline over the past couple of months, with the Ford brand falling roughly two percent in February. Lincoln hasn’t quite followed suit, however, as its average transaction price actually grew by around two percent in January, however. Now, according to the latest data from Kelley Blue Book, Lincoln average transaction pricing continues to defy the market after growing by one percent yet again in February.

Lincoln average transaction pricing increased from $67,993 in January to $68,656 last month, while that total is also a whopping 15.2 percent more than February 2022. By comparison, the industry average came in at $48,763, which is 1.4 percent less month-over-month (versus $49,468) and 5.3 percent higher than February of last year, when overall ATP came in at $46,297. On the flip side, the average luxury buyer paid $65,534 for a new vehicle last month, which is down $644 from January.

Meanwhile, incentive spending rose to 3.0 percent or $1,474, on average, which are figures that haven’t been seen since March 2022. This helped push prices down overall, but incentive spending still remains near historically low levels – that particular stat came in at 8.3 percent as recently as two years ago, in fact, while the average new vehicle is still selling for $95 over sticker price. Regardless, it’s clear that new vehicle pricing is beginning to cool – though it could be a while before those prices return to “normal” levels.

“The transaction data from February indicates that prices continue a downward trend at the beginning of 2023,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. “Both luxury and non-luxury prices were down month over month, but new models, richer product mix, and limited discounting are contributing to elevated prices.”

We’ll have more on Lincoln average transaction pricing soon, so be sure and subscribe to Ford Authority for the latest Lincoln news and comprehensive Ford news updates.