Demand Quickly Backing Away from Cars, Pushing Average New-Car Transaction Prices Up for July 2018, According to Kelley Blue Book
IRVINE, Calif., Aug. 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,359 in July 2018. New-vehicle prices increased by $985 (up 2.9 percent) from July 2017, while decreasing (down 0.4 percent) from last month.
"Average transaction prices rose 3 percent year-over-year, thanks to market demand quickly backing away from cars," said Tim Fleming, analyst for Kelley Blue Book. "Cars are expected to make up only 31 percent of July sales, down from 36 percent just one year ago, which is pushing transaction prices up as consumers opt for pricier SUVs and trucks. Prices also are likely to strengthen as the average days in inventory has begun to recede for the first time this decade, which is a sign automakers are managing production well in the post-peak demand era."
|
Manufacturer |
July 2018 Transaction |
June 2018 Transaction |
July 2017 Transaction |
Percent |
Percent 2017 to 2018* |
|
American Honda (Acura, Honda) |
$28,179 |
$28,413 |
$27,346 |
-0.8% |
3.0% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$37,666 |
$37,187 |
$37,490 |
1.3% |
0.5% |
|
Ford Motor Company (Ford, Lincoln) |
$39,756 |
$39,812 |
$38,210 |
-0.1% |
4.0% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$40,889 |
$41,154 |
$39,546 |
-0.6% |
3.4% |
|
$25,090 |
$25,161 |
$25,178 |
-0.3% |
-0.3% | |
|
Nissan North America (Nissan, Infiniti) |
$29,550 |
$29,717 |
$28,802 |
-0.6% |
2.6% |
|
$28,637 |
$28,641 |
$28,451 |
0.0% |
0.7% | |
|
Toyota Motor Company (Lexus, Toyota) |
$32,321 |
$32,382 |
$31,593 |
-0.2% |
2.3% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$40,577 |
$41,124 |
$38,983 |
-1.3% |
4.1% |
|
Industry |
$35,359 |
$35,507 |
$34,374 |
-0.4% |
2.9% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
Volkswagen Group is up 5 percent in July 2018, primarily on the strength of the Volkswagen brand. Volkswagen increased 5 percent on their SUVs, the Atlas and Tiguan, which have brought the brand's sales mix of utility vehicles from 15 percent to nearly 40 percent. The redesigned Jetta also performed well, rising 6 percent. Audi was flat for the month, though the Q5 did show strong improvement with a 4 percent increase.
Another great performer, Ford Motor Company's average transaction prices grew an impressive 4 percent in July 2018. Lincoln's average transaction prices increased 10 percent, thanks to the meteoric rise of the new Navigator (up 33 percent). Ford also reported a big month, rising 4 percent, as the refreshed F-150 climbed 5 percent. The new Expedition also was strong, up 14 percent, pushing it near the top of the full-size SUV segment.
|
Segment |
July 2018 Transaction |
June 2018 Transaction |
July 2017 |
Percent |
Percent 2017 to 2018* |
|
Compact Car |
$20,412 |
$20,434 |
$20,316 |
-0.1% |
0.5% |
|
Compact SUV/Crossover |
$28,365 |
$28,316 |
$28,122 |
0.2% |
0.9% |
|
Electric Vehicle |
$36,948 |
$37,609 |
$37,755 |
-1.8% |
-2.1% |
|
Entry-level Luxury Car |
$42,211 |
$42,291 |
$42,099 |
-0.2% |
0.3% |
|
Full-size Car |
$35,038 |
$34,989 |
$34,627 |
0.1% |
1.2% |
|
Full-size Pickup Truck |
$48,644 |
$48,676 |
$46,475 |
-0.1% |
4.7% |
|
Full-Size SUV/Crossover |
$61,557 |
$61,606 |
$60,761 |
-0.1% |
1.3% |
|
High Performance Car |
$92,798 |
$92,059 |
$93,718 |
0.8% |
-1.0% |
|
High-end Luxury Car |
$98,360 |
$98,173 |
$95,874 |
0.2% |
2.6% |
|
Hybrid/Alternative Energy Car |
$26,969 |
$26,725 |
$26,309 |
0.9% |
2.5% |
|
Luxury Car |
$59,519 |
$59,141 |
$57,562 |
0.6% |
3.4% |
|
Luxury Compact SUV/Crossover |
$44,524 |
$44,649 |
$42,899 |
-0.3% |
3.8% |
|
Luxury Full-size SUV/Crossover |
$88,038 |
$88,138 |
$81,811 |
-0.1% |
7.6% |
|
Luxury Mid-size SUV/Crossover |
$55,118 |
$55,639 |
$54,607 |
-0.9% |
0.9% |
|
Mid-size Car |
$25,424 |
$25,504 |
$24,734 |
-0.3% |
2.8% |
|
Mid-size Pickup Truck |
$33,125 |
$33,257 |
$32,476 |
-0.4% |
2.0% |
|
Mid-size SUV/Crossover |
$37,844 |
$37,798 |
$37,578 |
0.1% |
0.7% |
|
Minivan |
$34,635 |
$34,138 |
$34,174 |
1.5% |
1.3% |
|
Sports Car |
$31,650 |
$32,407 |
$29,975 |
-2.3% |
5.6% |
|
Subcompact Car |
$15,026 |
$14,986 |
$14,925 |
0.3% |
0.7% |
|
Subcompact SUV/Crossover |
$24,008 |
$24,089 |
$24,152 |
-0.3% |
-0.6% |
|
Van |
$34,902 |
$34,917 |
$33,696 |
0.0% |
3.6% |
|
Grand Total |
$35,359 |
$35,507 |
$34,374 |
-0.4% |
2.9% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
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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 market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. 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 is a Cox Automotive brand.
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SOURCE Kelley Blue Book
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