New-Car Transaction Prices Increase More Than 2 Percent Year-Over-Year In October 2016, According To Kelley Blue Book
Detroit Automakers Post Greatest Gains; Increased Incentives Offsetting Climbing Transaction Prices
IRVINE, Calif., Nov. 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 reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,663 in October 2016. New-car prices have increased by $783 (up 2.3 percent) from October 2015, while remaining flat from last month.
"Transaction prices continue their upward trajectory in October, rising nearly $800 year-over-year to $34,663," said Tim Fleming, analyst for Kelley Blue Book. "The Detroit automakers posted gains between 4 and 6 percent, as their strong portfolios of trucks and SUVs align extremely well with current consumer demand. Despite the increases in transaction prices, incentive spending across the industry continues to climb as well, offsetting much of the transaction price gains. With industry sales reaching a potential plateau, automakers should adjust production to better match demand, which should reduce the need for such high incentives."
|
Manufacturer |
October 2016 |
September 2016 Transaction Price |
October 2015 Transaction Price |
Percent Change September 2016 to October 2016* |
Percent Change October 2015 to October 2016* |
|
American Honda (Acura, Honda) |
$27,546 |
$27,502 |
$27,629 |
0.2% |
-0.3% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$36,433 |
$36,327 |
$34,473 |
0.3% |
5.7% |
|
Ford Motor Company (Ford, Lincoln) |
$38,558 |
$38,702 |
$36,869 |
-0.4% |
4.6% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$39,544 |
$40,030 |
$37,958 |
-1.2% |
4.2% |
|
$24,640 |
$24,497 |
$24,974 |
0.6% |
-1.3% |
|
|
Nissan North America (Nissan, Infiniti) |
$28,720 |
$29,005 |
$27,441 |
-1.0% |
4.7% |
|
$28,457 |
$28,662 |
$28,071 |
-0.7% |
1.4% |
|
|
Toyota Motor Company (Lexus, Scion, Toyota) |
$31,304 |
$31,236 |
$30,560 |
0.2% |
2.4% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$40,526 |
$40,393 |
$39,865 |
0.3% |
1.7% |
|
Industry |
$34,663 |
$34,675 |
$33,880 |
0.0% |
2.3% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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Fiat Chrysler reports the highest transaction price gain of all major manufacturers in October 2016 at 5.7 percent. The Chrysler brand is up 13 percent, thanks to the new Pacifica, which is transacting at the top of the minivan segment. Jeep, the highest volume brand for Fiat Chrysler, is up 2.5 percent as all models in its lineup increased.
Ford Motor Company increased 4 percent, due to a strong month for the Explorer (up 7 percent) and the Transit van, which also climbed 7 percent. The Lincoln brand was flat, although the new Continental is helping the brand's average by transacting nearly 20 percent higher than the MKS, which it replaced. Also among the greatest year-over-year increases, General Motors reports a good month with a 4 percent increase, as the Cadillac and GMC brands are up most. Cadillac rose nearly 8 percent with strength from its new models, the XT5 and CT6. GMC is up 5 percent on a strong mix of full-size SUVs.
|
Segment
|
October 2016 |
September 2016 |
October 2015 |
Percent 2016 to 2016* |
Percent 2015 to 2016* |
|
Compact Car |
$20,264 |
$20,221 |
$20,057 |
0.2% |
1.0% |
|
Compact SUV/Crossover |
$27,728 |
$27,640 |
$27,217 |
0.3% |
1.9% |
|
Electric Vehicle |
$39,034 |
$38,882 |
$39,143 |
0.4% |
-0.3% |
|
Entry-level Luxury Car |
$40,673 |
$41,056 |
$40,249 |
-0.9% |
1.1% |
|
Full-size Car |
$34,762 |
$34,689 |
$34,055 |
0.2% |
2.1% |
|
Full-size Pickup Truck |
$46,816 |
$46,949 |
$46,050 |
-0.3% |
1.7% |
|
Full-Size SUV/Crossover |
$59,434 |
$60,520 |
$59,955 |
-1.8% |
-0.9% |
|
High Performance Car |
$91,364 |
$89,261 |
$95,682 |
2.4% |
-4.5% |
|
High-end Luxury Car |
$92,420 |
$90,792 |
$91,282 |
1.8% |
1.2% |
|
Hybrid/Alternative Energy Car |
$25,948 |
$25,858 |
$24,722 |
0.3% |
5.0% |
|
Luxury Car |
$57,303 |
$57,550 |
$56,404 |
-0.4% |
1.6% |
|
Luxury Compact SUV/Crossover |
$41,143 |
$41,254 |
$41,073 |
-0.3% |
0.2% |
|
Luxury Full-size SUV/Crossover |
$84,138 |
$83,201 |
$84,630 |
1.1% |
-0.6% |
|
Luxury Mid-size SUV/Crossover |
$54,966 |
$54,713 |
$54,002 |
0.5% |
1.8% |
|
Mid-size Car |
$25,356 |
$25,306 |
$24,945 |
0.2% |
1.6% |
|
Mid-size Pickup Truck |
$32,765 |
$32,585 |
$31,861 |
0.6% |
2.8% |
|
Mid-size SUV/Crossover |
$36,961 |
$36,956 |
$36,781 |
0.0% |
0.5% |
|
Minivan |
$33,737 |
$33,932 |
$32,260 |
-0.6% |
4.6% |
|
Sports Car |
$32,404 |
$31,926 |
$30,538 |
1.5% |
6.1% |
|
Subcompact Car |
$16,532 |
$16,489 |
$16,433 |
0.3% |
0.6% |
|
Subcompact SUV/Crossover |
$24,476 |
$24,367 |
$24,584 |
0.4% |
-0.4% |
|
Van |
$34,980 |
$35,444 |
$33,282 |
-1.3% |
5.1% |
|
Grand Total |
$34,663 |
$34,675 |
$33,880 |
0.0% |
2.3% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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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 2016 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for five consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive brand.
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