New-vehicle average transaction prices (ATPs) increased to $46,526 in April 2022, according to new data released by Kelley Blue Book. Prices rose 0.7% ($304) on a month-over-month basis and remain elevated vs. a year ago, up 13% ($5,354) from April 2021.

Consumers continued to pay above manufacturer’s suggested retail price (MSRP) for a new vehicle, according to KBB, a unit of Cox Automotive. New-vehicle inventory days’ supply stayed in the low 30s in April while customer demand remained high. These conditions enabled most dealers to continue selling inventory at or above MSRP.