Ford Motor Company ATP Up Five Percent In April 2024

May 17, 2024 10:21 am

Though new vehicle pricing is expected to ultimately drop this year – at least somewhat – that hasn’t necessarily been the case through the first four months of the year. In fact, both the Ford and Lincoln brands posted essentially flat average transaction pricing results in February before both increased in April – by around two percent for Lincoln, and a more significant six percent for Ford. Thus, as a whole, Ford Motor Company ATP followed suit, according to new data from Cox Automotive.

Last month, Ford Motor Company average transaction pricing came in at $57,200, which is a rather significant 5.4 percent higher than March, when it was $54,245. This result is also 3.8 percent higher than April 2023, when FoMoCo’s ATP finished the month at $55,104. 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 as well, 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.”

We’ll have more on Ford average transaction pricing soon, so be sure and subscribe to Ford Authority for non-stop Ford news coverage.

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.