As is the case with the overall market, in general, Lincoln average transaction pricing has remained rather resilient even as inventory levels continue to hover near record highs, largely on the back of strong new vehicle sales. Over the past few months, Lincoln average transaction pricing has remained largely stable, which is at least an improvement compared to prior months of stubborn growth. That was once again the case in February, in fact, even as Lincoln’s inventory levels remain among the highest in the entire automotive industry.
According to new data from Cox Automotive, Lincoln average transaction pricing ended February at $65,166, which is a mere 0.4 percent lower than January’s figure of $65,397. That ATP is also 0.3 percent higher than January 2024’s $65,001, too. Meanwhile, Ford average transaction pricing declined by 2.9 percent between January and February, from $55,693 to $54,082, which is its largest drop in quite some time, though still 0.6 percent higher than February 2024, when it closed out the month at $53,786. As for the overall automotive market, it experienced a 1.3 percent decline – from $48,675 to $48,039 – which was one percent higher than February 2024’s $47,551.
According to Cox Automotive, incentives remained mostly flat month-over-month, coming in at 7.1 percent of ATP, or around $3,392, which played a role in those figures. Lower priced vehicles continue to prove difficult to find in today’s market, while those priced at $100,000 and up accounted for 52,000 units sold in January and February – up from 46,000 a year ago.
“February marks the five-year anniversary of the last ‘clean month’ of data prior to the global COVID pandemic that shifted the automotive landscape,” said Erin Keating, Executive Analyst Cox Automotive. “Compared to February 2020, ATP is up 25 percent while incentives are down 13 percent and monthly sales are down 9 percent. Auto loan rates are higher now as well, making new-vehicle affordability a real challenge for most households. While affordability is a challenge for many households, six-figure vehicles continue to sell well and have experienced a four-fold increase in sales volume since early 2020. The income divide remains a key issue for new-vehicle sales momentum, as the industry continues to count on high income households with prime and super prime credit scores to drive sales.”
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