Ford Average Transaction Price Up One Percent In June 2024

July 11, 2024 11:13 am

With demand cooling and inventory growing by a significant margin, most expected new vehicle average transaction pricing to soften through the course of 2024, though it certainly hasn’t declined by any notable margin thus far. Rather, the market has seen its ATP fluctuate somewhat, and that’s especially true of Ford average transaction pricing – which has decreased in certain months through the first half of 2024, and increased in others. That trend continued in the month of June, too.

According to new data from Cox Automotive, Ford average transaction pricing – for the brand, at least, not including Lincoln – closed out last month at $56,542, which is 1.1 percent or $589 higher than May, when it was $55,953. That’s also 1.7 percent higher than June 2023, when Ford average transaction pricing was $55,582. As far as the overall market goes, ATP increased by a smaller margin of 0.6 percent versus May to finish June at $48,644, which is also 0.6 percent lower than June 2023’s figure of $48,951.

Though ATP for the overall market increased slightly last month, more notably, it was also lower year over year for the ninth straight month. Interestingly, incentive spending was down a bit in June as well, coming in at 6.4 percent of ATP or $3,102 versus 6.7 percent in May, though it remains much higher than June 2023’s 4.2 percent of ATP, or $2,036, on average. Regardless, this still signals that many automakers aren’t swayed by swelling inventory – at least not yet.

“As we head into the back half of the year, we are seeing that automakers are showing real discipline on pricing,” said Cox Automotive Executive Analyst Erin Keating. “Even brands holding onto more days’ supply, like many Stellantis brands, are keeping incentive spend in check. In June, Jeep increased to 6.3 percent – still below industry average – from 5.3 percent, and Ram actually declined to 5.5 percent from 6.3 percent. There appears to be a real effort to hold the line out there.”

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.