New Vehicle Prices Remain Flat in May Amid Import Tariffs

The pace of sales slowed down ‘notably’ while incentives being offered to buyers rose last month, according to Kelley Blue Book.

New Hyundai cars are displayed on the sales lot of a dealership in San Leandro, Calif., on May 30, 2023. Justin Sullivan/Getty Images

The average transaction price (ATP) of new vehicles remained steady in the United States in May compared to the previous month, despite the Trump administration’s auto import tariffs, vehicle valuation company Kelley Blue Book (KBB) said in a June 10 statement.

The ATP for new vehicles in May was $48,799, “virtually unchanged from the revised April ATP of $48,811,” KBB said. ATP was 1 percent higher than in May 2024.