Kelley Blue Book reports U.S. used-vehicle sales by franchised and independent dealers increased in October, improving by 7% month-over-month and 12% year-over-year. +

Declining interest rates, increased incentives and personal income gains have led to the best new-vehicle affordability level since August 2021. +

New-vehicle incentives are up by more than 60% heading into the final stretch of 2024, helping dealers clear inventory off their new-vehicle lots. +

Even with major year-over-year increases in sales volume, new-vehicle inventory keeps rising with the arrival of the holiday season. +

New-vehicle incentives have continued their growth trend as factories compete for sales and help dealers move their remaining 2024 inventory. +