Record New-Car Transaction Prices Reported In December 2015, According To Kelley Blue Book

IRVINE, Calif., Jan. 5, 2016 /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 $34,428 in December 2015. New-car prices have increased by $297 (up 0.9 percent) from December 2014, while climbing $248 (up 0.7 percent) from last month. 

"Prices continue to climb, reaching record levels, with more new product on the market than ever before, and new product iterations tend to bring higher transaction prices, particularly among luxury models," said Akshay Anand, analyst for Kelley Blue Book. "Luxury sales spiked in December and should total over 15 percent of the market, which is more than 2 percent higher than the rest of the year's average. In addition, SUVs and trucks continue to make up a larger share of sales, helping to boost average transaction prices."

Among luxury, Lexus and Lincoln both rose 1 percent month-over-month and from this time last year, as new products have helped each brand achieve average transaction pricing in the $40,000 range. Both brands have benefited from all-new SUV redesigns in the Lexus RX and Lincoln MKX.  Porsche reports a 4 percent jump from last month, which can be attributed to its Cayman and 911, both of which have helped lift the overall sports car and high performance car segments.

"At the segment level, mid-size pickup trucks rose, largely due to the recently redesigned Toyota Tacoma, with average transaction prices increasing 12 percent year-over-year," said Tim Fleming, analyst for Kelley Blue Book. "This segment is more competitive than it has been in years, thanks to the reintroduction of the Chevrolet Colorado and GMC Canyon. Toyota Tundra also had a great month with an 11 percent increase, helped by its high-end 1794 Edition and Platinum trims." 

Honda also had a nice lift in December 2015 with two newly redesigned models in its lineup, the Civic and Pilot. The Honda Pilot was up 11 percent to $37,242, while the Civic was up 2 percent, as the new model year makes its way onto dealer lots. This increase is sure to climb in the coming months, as the sell-down of the outgoing model completes. 

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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 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 company.

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SOURCE Kelley Blue Book