New-Car Transaction Prices Climb 2 Percent Year-Over-Year In June 2016, According To Kelley Blue Book

IRVINE, Calif., July 1, 2016 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the 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 $33,652 in June 2016.  New-car prices have increased by $655 (up 2 percent) from June 2015, while rising $31 (up 0.1 percent) from last month.

"It is no surprise that strength in trucks and SUVs continue to drive up average transaction prices and help brands with models in these segments," said Tim Fleming, analyst for Kelley Blue Book. "In particular, mid-size trucks stand out as one of the strongest segments with prices up nearly 9 percent in June 2016.  With full-size trucks now averaging $47,000, a large gap still exists to the segment's mid-size counterparts, which sit closer to $32,000."

The domestic automakers reveal the greatest year-over-year gains this month.  Fiat Chrysler transaction prices grew nearly 4 percent with the Chrysler and Dodge brands rising most.  Chrysler is seeing a 9 percent average gain due to the new Pacifica minivan, while nearly every model in the Dodge lineup is up, helping the brand's transaction prices increase 5 percent.

Ford Motor Company also is up 4 percent due to stronger F-Series sales and increased pricing on the Explorer, which was up 6 percent.  The Transit also had a great month, increasing 5 percent.  On the luxury side, the Lincoln brand was flat overall, but the redesigned MKX was a bright spot for the automaker, climbing 6 percent to $48,009 on average.

"General Motors increased most of all major manufacturers, up 4 percent in June 2016, helped most by Cadillac and Chevrolet," said Fleming.  "Cadillac rose 8 percent, helped by the new ATS-V and CTS-V sedans, as well as the new XT5, which is transacting 10 percent above the SRX that it replaced.  Chevrolet was up 5 percent with strong pricing on most of its key products, including the Silverado (up 5 percent), Malibu (up 6 percent) and Equinox (up 4 percent)." 

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About Kelley Blue Book (www.kbb.com)

Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the 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 2015 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for four consecutive years.  Kelley Blue Book Co., Inc. is a Cox Automotive™ brand.

About Cox Automotive

Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has nearly 30,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

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SOURCE Kelley Blue Book