Kelley Blue Book (KBB) recently published its average vehicle transaction price report for the month of April 2023, which shows a drop in purchase prices. Buyers are paying below MSRP and electric car prices are down significantly.
According to KBB's data, the average transaction price for a new car fell below MSRP for the second month in a row this April. The average price of a new vehicle in the US didn't change much though. It came in at $48,275, compared to $48,289 in March. It's important to note, however, that average prices are still up nearly $2,000 from a year ago.
Meanwhile, KBB says the average price of an electric vehicle (EV) dropped to about $55,000. While that may seem pricey, and it's certainly more than the average new-car transaction price, it marks a drop of over $10,000 year over year.
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