Americans paid an average transaction price of $50,326 to purchase a new vehicle in December, a new record, according to Kelley Blue Book (div. Cox Automotive). KBB’s ATP for all units increased by 1.1% from November and 0.8% year-over-year.

KBB analysts note dealers sold more than 233,000 full-size pickups with an ATP of $66,386 in December, just shy of the all-time record set in October. However, manufacturers have ramped up incentives, particularly for EVs: Discounts offset prices by a record 18% of ATP in December; KBB’s EV ATP increased by 2.4% year-over-year to $58,034.

“We typically see elevated prices in December, as the market delivers a strong mix of high-end and luxury vehicle sales,” writes Cox analyst Erin Keating in a release. “It’s important to remember, the Kelley Blue Book ATP is a reflection of what was sold in a given month, not what is available. Last month, nearly 20% of shoppers bought luxury, a peak for 2025 — and that doesn’t include the volume of high-end pickups that were snapped up by affluent shoppers.”

Read more at Cox Automotive