New-Car Transaction Prices Grow Nearly 3 Percent Year-Over-Year in May 2017, According To Kelley Blue Book

IRVINE, Calif., June 1, 2017 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com today reported the estimated average transaction price (ATP) for light vehicles in the United States was $33,261 in May 2017.  New-car prices have increased by $847 (up 2.6 percent) from May 2016, while falling $266 (down 0.8 percent) from last month.   

"Transaction prices continue to climb at a steady rate, driven by the weakening sales mix of cars which is estimated at 38 percent in May, down from 41 percent one year ago," said Tim Fleming, analyst for Kelley Blue Book. "Compact SUVs, the most popular segment in terms of sales, saw an increase of 2 percent year-over-year and clearly remain in very high demand. There are signs, however, of discounts in SUV segments that are growing quickly, including subcompact and luxury SUVs, which are likely helping to fuel those segments' double-digit sales growth this year."

Ford Motor Company was up 5 percent in May 2017, boosted by the F-Series which rose 3 percent.  The refreshed Fusion also saw one of the strongest gains in the weakening mid-size car segment at 3 percent. Meanwhile, the Lincoln brand was flat, although the MKC crossover fell 4 percent.

Additionally, Volkswagen Group's average transaction prices grew nearly 4 percent, as the Volkswagen brand climbed 5 percent, in part due to the resumed sale of model-year 2015 diesel vehicles. The Audi brand was flat, though the redesigned A4 allroad soared 9 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 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 33,000 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 exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

SOURCE Kelley Blue Book