Lincoln Average Transaction Price Stable In September 2024

For the most part, new vehicle average transaction pricing has fallen ever-so-slightly through the course of 2024, though that hasn’t been a conventional drop by any means – nor a very large one. When it comes to individual brands, several have bucked the trend, and that includes both Ford and Lincoln, each of which have actually seen ATP rise on multiple occasions over the past few months. Now, the latest data reveals that Lincoln average transaction pricing remained largely stable in September 2024, too.

According to Cox Automotive, Lincoln average transaction pricing last month was $66,780, which is a mere 0.3 percent higher than August’s figure of $66,576, as well as 0.6 percent more than September 2023, when the luxury brand’s ATP was $66,361. This somewhat mimicked the overall automotive industry, which had a September 2024 ATP of $48,397 – 0.8 percent higher than August’s $47,997, but 0.4 percent lower than the $48,615 it was over the same time period one year ago. As for Ford, it had an ATP of $56,489 in September, up 0.9 percent from $55,963 in August 2024 and 1.6 percent higher than September 2023’s $55,618.

Regardless, high inventory and increased incentive spending continue to have an overall downward price pressure on the new vehicle market in general. Incentive spending in September increased for the third straight month, rising from 7.2 percent of the average transactions price in August to 7.3 percent in September ($3,522) – far higher than the 4.8 percent automakers were spending in September 2023.

“New-vehicle transaction prices continue to be very steady this year, and higher incentive spending is helping maintain sales volume,” said Cox Automotive Executive Analyst Erin Keating. “We still believe there is potential for growth in the market for the rest of the year, but with the uncertainty of a national election around the corner and major weather events disrupting business, maybe a slow, steady pace is all we should expect.”