Average New-Car Prices Relatively Flat; General Motors Only Major Automaker With Year-Over-Year Decline, According To Kelley Blue Book
IRVINE, Calif., Oct. 3, 2017 /PRNewswire/ --The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,861 in September 2017. New-car prices have increased by $144 (up 0.4 percent) from September 2016, while remaining flat from last month.
"Transaction prices were up very slightly in September, reflecting the industry's trend of slowing demand for new vehicles," said Tim Fleming, analyst for Kelley Blue Book. "Despite pullbacks in vehicle production this year, incentives are still rising and averaging nearly 11 percent of transaction prices. In addition, with average prices nearly $35,000, we expect new-car affordability to continue to be a challenge, especially as more consumers stretch their loan terms out to 84 months to keep payments down."
|
Manufacturer |
September 2017 Transaction Price (Avg.)* |
August 2017 Transaction Price (Avg.)* |
September 2016 Transaction Price (Avg.)* |
Percent Change August 2017 to September 2017* |
Percent Change September 2016 to September 2017* |
|
American Honda (Acura, Honda) |
$27,580 |
$27,447 |
$27,561 |
0.5% |
0.1% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$37,088 |
$37,219 |
$36,340 |
-0.4% |
2.1% |
|
Ford Motor Company (Ford, Lincoln) |
$38,919 |
$38,992 |
$38,680 |
-0.2% |
0.6% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$38,851 |
$38,785 |
$40,083 |
0.2% |
-3.1% |
|
$25,007 |
$24,976 |
$24,512 |
0.1% |
2.0% | |
|
Nissan North America (Nissan, Infiniti) |
$29,566 |
$29,809 |
$28,973 |
-0.8% |
2.0% |
|
$29,019 |
$28,650 |
$28,539 |
1.3% |
1.7% | |
|
Toyota Motor Company (Lexus, Toyota) |
$31,793 |
$31,710 |
$31,439 |
0.3% |
1.1% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$39,401 |
$39,369 |
$39,333 |
0.1% |
0.2% |
|
Industry |
$34,861 |
$34,866 |
$34,717 |
0.0% |
0.4% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
General Motors is the only major manufacturer declining year-over-year, down 3 percent. The only brand to see increases for General Motors was Buick. Buick's average climbed 4 percent, due in large part to the discontinuation of the Verano, but the refreshed Encore was up 2 percent. Chevrolet fell 3 percent, with the redesigned Equinox having the best month, increasing 3 percent. Chevrolet's top-seller, the Silverado, was down 3 percent.
American Honda's transaction prices were flat in September with the Honda brand up 1 percent and Acura down 3 percent. Honda's best performer was the redesigned Odyssey minivan, which transacted 16 percent higher. The redesigned CR-V continues to impress as well, up 6 percent, while its smaller sibling, the HR-V, was down 2 percent. The refreshed TLX has the best month for Acura, climbing 6 percent, while all other models were down.
|
Segment |
September 2017 |
August 2017 |
September 2016 |
Percent 2017 to |
Percent 2016 to 2017* |
|
Compact Car |
$20,328 |
$20,361 |
$20,165 |
-0.2% |
0.8% |
|
Compact SUV/Crossover |
$28,586 |
$28,542 |
$28,043 |
0.2% |
1.9% |
|
Electric Vehicle |
$37,882 |
$37,633 |
$39,031 |
0.7% |
-2.9% |
|
Entry-Level Luxury Car |
$42,139 |
$42,074 |
$41,345 |
0.2% |
1.9% |
|
Full-Size Car |
$33,844 |
$34,107 |
$34,371 |
-0.8% |
-1.5% |
|
Full-Size Pickup Truck |
$47,283 |
$47,398 |
$47,257 |
-0.2% |
0.1% |
|
Full-Size SUV/Crossover |
$60,537 |
$60,521 |
$61,270 |
0.0% |
-1.2% |
|
High Performance Car |
$92,398 |
$97,234 |
$88,164 |
-5.0% |
4.8% |
|
High-End Luxury Car |
$94,610 |
$94,308 |
$93,482 |
0.3% |
1.2% |
|
Hybrid/Alternative Energy Car |
$26,014 |
$25,980 |
$25,880 |
0.1% |
0.5% |
|
Luxury Car |
$57,196 |
$56,748 |
$57,473 |
0.8% |
-0.5% |
|
Luxury Compact SUV/Crossover |
$43,796 |
$43,414 |
$43,858 |
0.9% |
-0.1% |
|
Luxury Full-Size SUV/Crossover |
$83,758 |
$84,010 |
$83,086 |
-0.3% |
0.8% |
|
Luxury Mid-Size SUV/Crossover |
$54,320 |
$54,082 |
$54,973 |
0.4% |
-1.2% |
|
Mid-Size Car |
$25,158 |
$24,914 |
$25,275 |
1.0% |
-0.5% |
|
Mid-Size Pickup Truck |
$32,520 |
$32,683 |
$32,750 |
-0.5% |
-0.7% |
|
Mid-Size SUV/Crossover |
$37,546 |
$37,617 |
$37,106 |
-0.2% |
1.2% |
|
Minivan |
$34,040 |
$33,346 |
$33,875 |
2.1% |
0.5% |
|
Sports Car |
$30,465 |
$30,900 |
$31,268 |
-1.4% |
-2.6% |
|
Subcompact Car |
$16,143 |
$16,391 |
$16,493 |
-1.5% |
-2.1% |
|
Subcompact SUV/Crossover |
$24,319 |
$24,237 |
$24,340 |
0.3% |
-0.1% |
|
Van |
$35,203 |
$35,155 |
$35,363 |
0.1% |
-0.5% |
|
Grand Total |
$34,861 |
$34,866 |
$34,717 |
0.0% |
0.4% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
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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 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
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