Average New-Car Prices Up Nearly 1 Percent Year-Over-Year, Despite Mixed Results For Major Automakers, According To Kelley Blue Book

IRVINE, Calif., Sept. 1, 2017 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,648 in August 2017. New-car prices have increased by $243 (up 0.7 percent) from August 2016, while increasing slightly (up 0.5 percent) from last month.   

"August revealed mixed average transaction prices across the major manufacturers, although the industry average still managed to rise nearly 1 percent year-over-year," said Tim Fleming, analyst for Kelley Blue Book.  "However, we should note that this is far lower than the 2 to 3 percent gains in the first half of the year, and prices moved downward in key segments such as full-size trucks and mid-size cars. With incentives still averaging more than 10 percent of transaction prices, Kelley Blue Book sees clear signs of pressure on new-car pricing in what is the first down year of sales since the recession."

Fiat Chrysler's average prices climbed more than 6 percent in August, helped by a strong sales mix of RAM trucks. The Jeep brand also increased 6 percent as the new Compass was up 8 percent year-over-year. 

Among other automakers with average transaction price gains, Hyundai-Kia's transaction prices are up nearly 2 percent in August, with Hyundai up 3 percent. Although the Elantra increased 3 percent, the average transaction price gains at Hyundai are largely due to a smaller sales mix of their smaller cars. Kia was down 1 percent.

Nissan North America also was up nearly 2 percent, as Infiniti was down 1 percent and Nissan rose 2 percent. The Rogue, Nissan's best seller, increased 2 percent, but Nissan's best performer was the Armada, up 13 percent amid big sales increases.

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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, financial, retail and wholesale 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 32,000-plus 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