New-Car Transaction Prices Up 0.4 Percent In September 2014, According To Kelley Blue Book

IRVINE, Calif., Oct. 1, 2014 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $32,500 in September 2014.  New-car prices have increased by $133 (up 0.4 percent) from September 2013, while rising $56 (0.2 percent) from last month. 

"Non-luxury utility vehicles are driving some of the strength in transaction prices, with combined market share expected to rise 2 percentage points to 27.8 percent of the market," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "In addition to strong utility sales, average transaction prices are up for small, medium and large SUVs/crossovers.  With consumers continually shifting toward utilities rather than more traditional sedans, we expect to see transaction prices continue to rise."

Benefiting from strength in the utility segments, Chrysler and General Motors report solid gains in their average transaction prices, up 5 percent and 4.5 percent year-over-year respectively.  Jeep and RAM sales are helping drive strength in Chrysler Group in addition to Chrysler's redesigned 200 model.  GM increases continue on the strength of its Chevrolet and GMC SUV and truck lineups. 

"Hyundai-Kia also made a significant gain, up 2.1 percent in September," said Tim Fleming, analyst for Kelley Blue Book.  "The redesigned Sonata helped bring the model average transaction price up 6.4 percent, while Kia's pricing is down 1.2 percent, due to increased sales of the compact Kia Soul, which now accounts for one-quarter of Kia's sales."

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week.  The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies.  Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2014 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for three consecutive years.  Kelley Blue Book Co., Inc. is a Cox Automotive company.

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SOURCE Kelley Blue Book