Ford Average Transaction Price Up Six Percent In April 2024

May 15, 2024 10:30 am

Following a long period of increases – and several new records along the way – Ford average transaction pricing finally began to cool early this year, declining by two percent in January before remaining largely flat in February. However, that trend quickly reversed over the past couple of months, with Ford average transaction pricing increasing in the month of March, and it continued its upward climb in April as well amid a sales decline, according to new data from Cox Automotive.

Last month, Ford average transaction pricing came in at $56,804, which is a rather significant 5.8 percent higher than March, when it was $53,695. This result is also 4.2 percent higher than April 2023, when Ford’s ATP finished the month at $54,501. Perhaps even more notably, these figures outpaced the overall market by a fair margin as well – in April, automotive ATP in the U.S. was $48,510, which was a monthly increase of just 2.2 percent, though also 0.5 percent lower than one year ago.

This marks the first time in three months that ATP has risen, posting its highest result since December of last year. This result was at least somewhat spurred by a decrease in incentive spending as well, as it made up 6.3 percent of the overall average transaction price in April – down from 6.6 percent March. This drop was also the first decrease in incentive spending since October 2023, when it accounted for 4.7 percent of ATP.

“The month-over-month increase in pricing in April is likely just a reflection of some pullback on incentives compared to the end of Q1, in March, when many automakers were pushing discounts to hit a strong finish to the quarter,” said Erin Keating, executive analyst at Cox Automotive. “Still, prices are down year over year. Affordability challenges continue to lurk, and as inventory slowly builds, we can expect to see incentives slowly grow through the remainder of 2024 to help keep any sales momentum alive.”

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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.