Average New-Car Prices Up 3% Year Over Year for July 2019 on Strong Truck Sales, According to Kelley Blue Book
IRVINE, Calif., Aug. 1, 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 $37,169 in July 2019. New-vehicle prices increased $1,246 (up 3.5%) from July 2018, while decreasing $312 (down 0.8%) from last month.
"While July is expected to come in below a 17-million SAAR pace, the industry average transaction price continued its steady rise, up 3% year over year," said Tim Fleming, analyst for Kelley Blue Book. "Trucks were the big story in July as new mid-size and full-size offerings helped to drive truck prices up about 3% while contributing to sales growth in this down market. With the new 1500 trucks from RAM and GM that came out last year, full-size truck prices have now eclipsed the $50,000 mark, and new heavy-duty trucks from these manufacturers this year will push those numbers up even more."
Manufacturer | July 2019 Transaction Price (Avg.)* | June 2019 Transaction Price (Avg.)* | July 2018 Transaction Price (Avg.)* | % Change June 2019 to July 2019* | % Change July 2018 to July 2019* |
American Honda (Acura, Honda) | $28,693 | $28,738 | $28,853 | -0.2% | -0.6% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $40,632 | $41,300 | $38,236 | -1.6% | 6.3% |
Ford Motor Company (Ford, Lincoln) | $41,108 | $41,008 | $40,425 | 0.2% | 1.7% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $41,668 | $42,079 | $40,335 | -1.0% | 3.3% |
$25,722 | $25,830 | $24,984 | -0.4% | 3.0% | |
Nissan North America (Nissan, INFINITI) | $29,047 | $28,970 | $29,356 | 0.3% | -1.1% |
$29,771 | $29,870 | $28,972 | -0.3% | 2.8% | |
Toyota Motor Company (Lexus, Toyota) | $33,224 | $33,359 | $32,771 | -0.4% | 1.4% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $43,257 | $44,085 | $40,670 | -1.9% | 6.4% |
Industry | $37,169 | $37,481 | $35,923 | -0.8% | 3.5% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
American Honda was down slightly in July, as Acura prices fell 2% while Honda stayed flat. Most Acura models saw declines for the month, while Honda was brought down by the Accord sedan, which fell 1%. The refreshed HR-V had a good month as it climbed 4%.
General Motors was up 3% for the month, as the Chevrolet brand saw the biggest gain at 4%. Chevrolet was helped by a very strong mix of trucks and SUVs, which should amount to more than an 80% sales mix in July. GMC also saw a slight increase in July, largely due to the Sierra and its 3% gain.
Volkswagen Group's transaction prices rose by 6%, with Audi up an impressive 13% from last year. Audi was buoyed by its redesigned A6 and A8 sedans, as well as the recently debuted Q8 and e-tron SUVs. The Volkswagen brand climbed 2%, helped by the Tiguan (up 5%) and the Jetta (up 3%), as well as a sales mix more geared toward SUVs.
Segment | July 2019 Transaction Price (Avg.)* | June 2019 Transaction Price (Avg.)* | July 2018 Transaction Price (Avg.)* | % Change June 2019 to July 2019* | % Change July 2018 to July 2019* | |
Compact Car | $20,525 | $20,803 | $20,424 | -1.3% | 0.5% | |
Compact SUV/Crossover | $29,316 | $29,288 | $28,432 | 0.1% | 3.1% | |
Electric Vehicle | $54,391 | $54,276 | $59,046 | 0.2% | -7.9% | |
Entry-level Luxury Car | $42,366 | $43,108 | $42,418 | -1.7% | -0.1% | |
Full-size Car | $35,177 | $35,112 | $34,905 | 0.2% | 0.8% | |
Full-size Pickup Truck | $50,063 | $50,473 | $48,686 | -0.8% | 2.8% | |
Full-Size SUV/Crossover | $62,210 | $62,847 | $61,473 | -1.0% | 1.2% | |
High Performance Car | $102,146 | $103,022 | $101,841 | -0.9% | 0.3% | |
High-end Luxury Car | $101,458 | $99,742 | $96,923 | 1.7% | 4.7% | |
Hybrid/Alternative Energy Car | $26,997 | $26,852 | $27,214 | 0.5% | -0.8% | |
Luxury Car | $58,719 | $59,395 | $58,593 | -1.1% | 0.2% | |
Luxury Compact SUV/Crossover | $45,759 | $46,042 | $45,556 | -0.6% | 0.4% | |
Luxury Full-size SUV/Crossover | $87,621 | $87,539 | $88,306 | 0.1% | -0.8% | |
Luxury Mid-size SUV/Crossover | $58,902 | $59,664 | $55,681 | -1.3% | 5.8% | |
Mid-size Car | $25,715 | $25,742 | $25,481 | -0.1% | 0.9% | |
Mid-size Pickup Truck | $34,894 | $35,365 | $33,687 | -1.3% | 3.6% | |
Mid-size SUV/Crossover | $38,417 | $38,397 | $37,911 | 0.1% | 1.3% | |
Minivan | $35,375 | $35,210 | $35,304 | 0.5% | 0.2% | |
Sports Car | $36,717 | $36,817 | $35,837 | -0.3% | 2.5% | |
Subcompact Car | $16,445 | $16,457 | $16,514 | -0.1% | -0.4% | |
Subcompact SUV/Crossover | $23,934 | $23,905 | $24,103 | 0.1% | -0.7% | |
Van | $34,447 | $34,184 | $35,048 | 0.8% | -1.7% | |
Grand Total | $37,169 | $37,481 | $35,923 | -0.8% | 3.5% | |
*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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