New-Vehicle Purchase Incentives Jump 60 Percent Amid Weak Demand

Eight mainstream auto companies are providing incentives of more than 10 percent of a vehicle’s average transaction price.

The Stellantis sign outside the Chrysler Technology Center, in Auburn Hills, Mich., on Jan. 19, 2021. Carlos Osorio/AP Photo

Incentives offered for new-vehicle purchases increased last month amid inventory buildup and ahead of the 2024 sales close, according to vehicle valuation and information source Kelley Blue Book.

“For more than a year now, new-vehicle prices in the U.S. have remained mostly unchanged and near $48,500, as higher inventory levels continue to hold downward pressure on the market,” it said in a Nov. 12 statement.