Average New-Car Prices Flat Year-Over-Year; Flat Prices Combined With Growing Incentive Spending Signals Headwinds For New-Car Market, According To Kelley Blue Book

IRVINE, Calif., Nov. 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 $35,263 in October 2017. New-car prices have increased by $101 (up 0.3 percent) from October 2016, while climbing $128 (up 0.4 percent) from last month.   

"Transaction prices continue to rise at a slower pace than we've seen recently, expected to be just $100 higher than this time last year," said Tim Fleming, analyst for Kelley Blue Book. "Prices in the third quarter were up just 1 percent after averaging 3 percent gains in the first half of the year. While Kelley Blue Book expects solid sales in October 2017 at 17.9 million SAAR, flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as 2017 nears its end."

Fiat Chrysler's average transaction prices rose 4 percent in October 2017, as the Jeep brand increased 3 percent. The redesigned Jeep Compass jumped 6 percent, while the winddown of the Jeep Patriot also is helping drive average prices up. Dodge climbed by 10 percent on the strength of the Durango SUV and its new SRT performance trim.

Volkswagen Group's average transaction prices were among the best performers year-over-year, up 2 percent for the month. The Volkswagen brand was up 4 percent, in large part to the recently introduced Atlas SUV and redesigned Tiguan, which rose 6 percent. Audi was up 4 percent, as the redesigned A5 climbed 4 percent on the strength of its new Sportback body style.  

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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