New-Car Transaction Prices Climb More Than 3 Percent In March 2015, According To Kelley Blue Book

IRVINE, Calif., April 1, 2015 /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 $33,280 in March 2015.  New-car prices have increased by $1,125 (up 3.5 percent) from March 2014, while dropping $41 (down 0.1 percent) from last month. 

"A lift in average transaction prices can be attributed to consumers' continued interest in buying trucks and SUVs," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "In fact, 85 percent of the industry's growth this year can be attributed to trucks and utility vehicles.  Transaction prices are rising in each of the truck segments, with the largest jumps in full-size and luxury full-size SUV segments.  Right now is a great time to be an automaker selling trucks."

Both General Motors and Hyundai-Kia are up 5.9 percent year-over-year.  For GM, this is primarily due to the shift in the manufacturer's share away from cars and toward trucks and utility vehicles.  Last year, about 59 percent of General Motors' sales year-to-date were truck-based and this year, about 69 percent of sales are trucks, vans or utility vehicles. Hyundai-Kia continues to climb on strength from the redesigned Hyundai Genesis and Kia Sedona.  

Ford Motor Company is following closely with an increase in average transaction prices by 4.4 percent, helped by two recently redesigned models.   

"The Mustang was up 10.6 percent, while the F-Series jumped 3.9 percent," said Tim Fleming, analyst for Kelley Blue Book.  "The F-Series makes up about 30 percent of Ford's sales, so as the availability of the new model continues to grow, so will Ford's average transaction prices."

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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