Average New-Car Prices Up 2% Year-Over-Year for August 2019, According to Kelley Blue Book
IRVINE, Calif., Sept. 4, 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 $37,401 in August 2019. New-vehicle prices increased $723 (up 2%) from August 2018, while decreasing $54 (down 0.1%) from last month.
"Although new-vehicle pricing growth has been strong this year, we've also seen greater incentives to offset rising monthly payments and move slower selling new-car inventories," said Tim Fleming, analyst for Kelley Blue Book. "The ratio of incentives to average transaction prices has been above 10% this summer after being under that mark for the previous eight months, and August looks to be no different with numerous Labor Day incentive programs being run by manufacturers. If sales do not respond accordingly, we could see this trend continue for the remainder of the year."
Manufacturer | August Transaction Price (Avg.)* | July 2019 Transaction Price (Avg.)* | August 2018 Transaction Price (Avg.)* | Percent Change July 2019 to August 2019* | Percent Change August 2018 to August 2019* |
American Honda (Acura, Honda) | $28,680 | $28,716 | $29,407 | -0.1% | -2.5% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $40,823 | $40,873 | $38,427 | -0.1% | 6.2% |
Ford Motor Company (Ford, Lincoln) | $42,541 | $42,650 | $41,336 | -0.3% | 2.9% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $41,855 | $41,659 | $41,000 | 0.5% | 2.1% |
$26,698 | $26,875 | $25,279 | -0.7% | 5.6% | |
Nissan North America (Nissan, INFINITI) | $30,106 | $29,772 | $30,455 | 1.1% | -1.1% |
$29,926 | $30,005 | $29,270 | -0.3% | 2.2% | |
Toyota Motor Company (Lexus, Toyota) | $33,931 | $33,686 | $33,146 | 0.7% | 2.4% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $42,744 | $43,629 | $40,515 | -2.0% | 5.5% |
Industry | $37,401 | $37,455 | $36,678 | -0.1% | 2.0% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
Fiat Chrysler had another strong month, posting more than a 6% increase, thanks to RAM and Jeep. RAM prices grew by 4%, while Jeep rose nearly 7% on the strength of the Wrangler and Gladiator. Gladiator prices are finally averaging below $50,000, but it still sits more than $10,000 above the next closest mid-size truck. Dodge also had a good month, rising 5% as the Challenger and Charger showed solid improvement.
Ford Motor Company was up 3% in August, with the Lincoln brand rising the most at 5%. Lincoln is benefitting from its new products, as the Nautilus jumped 5% and the refreshed MKC rose 3%. Meanwhile, the Aviator is off to a strong start as it averaged north of $70,000. The redesigned Explorer saw the biggest improvement for Ford, rising 8%, while the refreshed Edge had a solid gain of 5%.
Segment
| August 2019 Transaction Price | July 2019 Transaction | August 2018 | Percent August | Percent August |
Compact Car | $20,981 | $20,968 | $20,613 | 0.1% | 1.8% |
Compact SUV/Crossover | $28,229 | $28,157 | $27,513 | 0.3% | 2.6% |
Electric Vehicle | $55,351 | $55,331 | $62,942 | 0.0% | -12.1% |
Entry-level Luxury Car | $42,924 | $43,005 | $42,266 | -0.2% | 1.6% |
Full-size Car | $35,536 | $35,519 | $34,655 | 0.0% | 2.5% |
Full-size Pickup Truck | $50,585 | $50,244 | $49,104 | 0.7% | 3.0% |
Full-Size SUV/Crossover | $62,305 | $62,388 | $62,272 | -0.1% | 0.1% |
High Performance Car | $103,202 | $102,010 | $111,104 | 1.2% | -7.1% |
High-end Luxury Car | $97,436 | $98,628 | $96,672 | -1.2% | 0.8% |
Hybrid/Alternative Energy Car | $27,051 | $27,024 | $27,238 | 0.1% | -0.7% |
Luxury Car | $59,066 | $59,975 | $57,937 | -1.5% | 1.9% |
Luxury Compact SUV/Crossover | $45,709 | $45,431 | $45,750 | 0.6% | -0.1% |
Luxury Full-size SUV/Crossover | $88,900 | $89,438 | $88,706 | -0.6% | 0.2% |
Luxury Mid-size SUV/Crossover | $57,562 | $59,436 | $55,252 | -3.2% | 4.2% |
Mid-size Car | $25,866 | $25,805 | $25,483 | 0.2% | 1.5% |
Mid-size Pickup Truck | $35,295 | $35,666 | $33,973 | -1.0% | 3.9% |
Mid-size SUV/Crossover | $39,108 | $38,908 | $38,577 | 0.5% | 1.4% |
Minivan | $35,782 | $35,857 | $34,706 | -0.2% | 3.1% |
Sports Car | $36,257 | $36,548 | $35,332 | -0.8% | 2.6% |
Subcompact Car | $16,844 | $16,768 | $16,931 | 0.5% | -0.5% |
Subcompact SUV/Crossover | $24,025 | $23,898 | $24,165 | 0.5% | -0.6% |
Van | $35,626 | $35,315 | $35,244 | 0.9% | 1.1% |
Grand Total | $37,401 | $37,455 | $36,678 | -0.1% | 2.0% |
*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.
About Cox Automotive
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SOURCE Kelley Blue Book
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