Market update
Cox: New-vehicle prices reached a 2026 high as incentives fell
Cox estimates July's average new-vehicle transaction price reached $49,855 while average incentive spending fell for a second month.
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What Cox measured in July
Kelley Blue Book, a Cox Automotive brand, estimates that the average price paid for a new vehicle was $49,855 in July. That was 0.2% higher than June and 1.9% higher than July 2025, making it the highest monthly average in Cox's dataset so far in 2026 but still below the December 2025 peak of $50,612.
Cox reports that July new-vehicle sales were mostly unchanged from June and 1.5% lower than a year earlier. The price and sales figures are observed proprietary industry estimates for July, not forecasts or a count produced by a government agency.
Incentive spending declined for a second month
Cox estimates average incentive spending fell to 6.4% of transaction price in July from 7% in June and 7.3% in July 2025. It was the second consecutive monthly decline and the lowest share since January.
The average manufacturer's suggested retail price was $51,621, up 1.9% from a year earlier but down 0.1% from June. MSRP is a sticker price, while Cox's transaction-price estimate reflects the average amount paid before accounting for every buyer's taxes, fees, trade, financing, or optional products.
EV prices rose as EV incentives narrowed
Cox puts July's average new-EV transaction price at $56,126, up 1.2% from June and 1.6% from a year earlier. It estimates average EV incentives at $6,626, down 9.1% from June and 24.3% from July 2025.
EV incentives still averaged 11.8% of transaction price, above the 6.4% industry average. Those national figures do not establish the price or incentive on a particular model, trim, or vehicle in local inventory.
How shoppers can use the July snapshot
- Compare several vehicles with the same model year, trim, options, and powertrain in your region.
- Ask for a written out-the-door price and verify which incentives apply to the exact VIN.
- Keep the vehicle price, trade-in, and financing terms separate so each part of the deal can be compared.
- If financing, compare APR, term, amount financed, total interest, and total of payments across written offers.
Primary references
Official sources
MyFavi links to the original agency material so you can verify the details and check for updates.
Cox Automotive and Kelley Blue Book figures are attributed proprietary industry estimates and may be revised. National averages are not a price quote, incentive offer, appraisal, or financial advice.