Kelley Blue Book report: New-vehicle prices trend higher, as higher costs hit automakers, 2026 mode year product arrives

New-vehicle prices in July remained largely unchanged from June, with only a slight decline month over month as incentive spending accelerated and fueled strong sales volumes. According to new estimates from Kelley Blue Book, however, annual gains in new-vehicle average transaction prices and manufacturer's suggested retail prices — two key measures of vehicle price increases in the U.S. — are accelerating but remain below long-term averages.