Lincoln Average Transaction Price Down Four Percent In June

July 13, 2023 10:53 am

Early this year, average new vehicle transaction prices finally began to fall following multiple years of increases stemming from the pandemic and a number of supply chain issues. However, Lincoln remained a bit of an exception to this rule as its ATP rose by two percent in January, one percent in February, 2.6 percent in March, and 0.2 percent in April, before finally declining 4.1 percent in May. Now, that trend continues, as Lincoln average transaction pricing fell by four percent in June – quite a bit more than Ford at a mere one percent.

Last month, Lincoln average transaction pricing dropped by an even four percent, going from $67,970 to $65,236. That’s also 5.4 percent lower than it was in June of 2022 – $68,950 – as well. However, that figure also outpaced the entire automotive industry as a whole, which saw its ATP rise by 0.3 percent, from $48,658 to $48,808, which is just 1.6 percent higher than last June.

Regardless, that 1.6 percent rise represents the smallest year-over-year increase in ATP since the start of the pandemic in early 2020, while a first-half drop of 1.7 percent is the largest over that particular time period in a decade. This coincides with the highest level of incentive spending since October 2021 – averaging $2,048, or 4.2 percent of the average transaction price – which helped buoy a 20.7 percent year-over-year increase in sales.

“The fact that average transaction prices are up a meager 1.6 percent year over year in June is notable,” said Michelle Krebs, executive analyst at Cox Automotive. “A year ago, the industry was looking at transaction prices that were consistently up 10 percent to 12 percent year over year. With no inventory in place, it was inflation gone wild. Now, as inventory has been consistently building and supply and demand are finding a balance, the price gains seem to be well under control. In fact, average transaction prices are down from the start of the year. That’s good news for shoppers.”

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.

By Brett Foote

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.