Average New-Car Prices Up More Than 2 Percent Year-Over-Year for March 2019 on Full-Size Pickup Strength; Monthly Payments Up $30, According to Kelley Blue Book
IRVINE, Calif., April 2, 2019 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $36,733 in March 2019. New-vehicle prices increased $824 (up 2.3 percent) from March 2018, while decreasing $174 (down 0.5 percent) from last month.
"Prices climbed more than 2 percent year-over-year in March, led by full-size trucks, where half of the models are new," said Tim Fleming, analyst for Kelley Blue Book. "While a 2 percent increase doesn't sound like much, factoring in higher interest rates this year and tighter incentives means average monthly payments are up about $30 from a year ago – an increase closer to 6 percent. This sharp increase is likely contributing to the slower sales pace in the first quarter. We will have to see if automakers respond with greater incentives later in the year, if sluggish sales continue."
Manufacturer | March 2019 Transaction | February Transaction | March 2018 | Percent | Percent |
American Honda (Acura, Honda) | $29,080 | $29,347 | $28,582 | -0.9% | 1.7% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $38,730 | $38,845 | $36,989 | -0.3% | 4.7% |
Ford Motor Company (Ford, Lincoln) | $41,574 | $41,905 | $39,488 | -0.8% | 5.3% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $40,822 | $40,919 | $39,210 | -0.2% | 4.1% |
$25,392 | $25,506 | $25,122 | -0.4% | 1.1% | |
Nissan North America (Nissan, INFINITI) | $29,630 | $29,512 | $29,436 | 0.4% | 0.7% |
$29,709 | $30,014 | $28,543 | -1.0% | 4.1% | |
Toyota Motor Company (Lexus, Toyota) | $32,802 | $32,766 | $32,597 | 0.1% | 0.6% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $43,234 | $43,940 | $41,770 | -1.6% | 3.5% |
Industry | $36,733 | $36,907 | $35,909 | -0.5% | 2.3% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
Fiat Chrysler had a great month of transaction price growth, posting a 5 percent increase primarily due to RAM. RAM prices were up nearly 7 percent, thanks to its new half-ton pickup truck, which also posted impressive sales gains recently. Meanwhile, Jeep climbed 2 percent on the strength of the Wrangler (JL), which was up 9 percent.
Also notable for March 2019, Subaru had another strong month as its average transaction price rose 4 percent, with the new three-row Ascent SUV helping the brand most, transacting close to $40,000. In addition, the redesigned Forester posted a 3 percent year-over-year improvement.
Segment | March 2019 Transaction Price | February Transaction | March 2018 | Percent | Percent |
Compact Car | $20,451 | $20,428 | $20,345 | 0.1% | 0.5% |
Compact SUV/Crossover | $29,168 | $29,211 | $28,695 | -0.1% | 1.6% |
Electric Vehicle | $56,984 | $60,002 | $74,348 | -5.0% | -23.4% |
Entry-level Luxury Car | $42,821 | $42,839 | $42,206 | 0.0% | 1.5% |
Full-size Car | $34,946 | $35,091 | $34,589 | -0.4% | 1.0% |
Full-size Pickup Truck | $50,003 | $50,192 | $47,515 | -0.4% | 5.2% |
Full-Size SUV/Crossover | $62,495 | $63,052 | $62,035 | -0.9% | 0.7% |
High Performance Car | $107,553 | $110,680 | $96,650 | -2.8% | 11.3% |
High-end Luxury Car | $97,352 | $98,224 | $99,918 | -0.9% | -2.6% |
Hybrid/Alternative Energy Car | $27,422 | $27,234 | $27,216 | 0.7% | 0.8% |
Luxury Car | $58,112 | $59,203 | $59,255 | -1.8% | -1.9% |
Luxury Compact SUV/Crossover | $45,155 | $45,212 | $44,550 | -0.1% | 1.4% |
Luxury Full-size SUV/Crossover | $88,625 | $87,785 | $89,478 | 1.0% | -1.0% |
Luxury Mid-size SUV/Crossover | $57,953 | $58,180 | $57,091 | -0.4% | 1.5% |
Mid-size Car | $25,890 | $25,901 | $25,747 | 0.0% | 0.6% |
Mid-size Pickup Truck | $33,679 | $33,705 | $33,056 | -0.1% | 1.9% |
Mid-size SUV/Crossover | $38,626 | $38,656 | $38,212 | -0.1% | 1.1% |
Minivan | $34,791 | $34,841 | $34,161 | -0.1% | 1.8% |
Sports Car | $35,439 | $34,956 | $35,200 | 1.4% | 0.7% |
Subcompact Car | $16,384 | $16,328 | $16,351 | 0.3% | 0.2% |
Subcompact SUV/Crossover | $24,022 | $23,954 | $24,549 | 0.3% | -2.1% |
Van | $34,553 | $34,827 | $34,229 | -0.8% | 0.9% |
Grand Total | $36,733 | $36,907 | $35,909 | -0.5% | 2.3% |
*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 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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