Average New-Car Prices Up Less Than 1% Year Over Year for September 2019 as Retail Demand Weakens, According to Kelley Blue Book
IRVINE, Calif., Oct. 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 $37,590 in September 2019. New-vehicle prices increased $262 (up 0.6%) from September 2018, while increasing $215 (up 0.7%) from last month.
"Transaction prices are still strong, but the growth has almost stalled, as retail demand is weakening," said Tim Fleming, analyst for Kelley Blue Book. "Despite automakers pulling back their production this year, it may not be fast enough. Incentives are rising, averaging about 10.5% of average transaction prices and nearing levels from 2017 when industry sales saw their first decline since the recession. SUVs and trucks are still performing well, as recent model launches are pushing sales and average prices up. This is even better news in that these units are usually more profitable for automakers."
Manufacturer | September Transaction | August 2019 Transaction | September 2018 | % Change | % Change September September |
American Honda (Acura, Honda) | $28,701 | $28,534 | $29,662 | 0.6% | -3.2% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $40,630 | $40,884 | $38,460 | -0.6% | 5.6% |
Ford Motor Company (Ford, Lincoln) | $42,619 | $42,387 | $40,946 | 0.5% | 4.1% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $42,236 | $42,244 | $41,785 | 0.0% | 1.1% |
$26,795 | $27,188 | $24,847 | -1.4% | 7.8% | |
Nissan North America (Nissan, INFINITI) | $30,825 | $30,281 | $30,856 | 1.8% | -0.1% |
$30,135 | $29,762 | $29,784 | 1.3% | 1.2% | |
Toyota Motor Company (Lexus, Toyota) | $34,134 | $34,072 | $33,474 | 0.2% | 2.0% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $42,719 | $42,649 | $41,010 | 0.2% | 4.2% |
Industry | $37,590 | $37,375 | $37,328 | 0.6% | 0.7% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
American Honda fell for the third straight month, as Acura prices fell 5% while Honda was down 2%. Most Acura models saw declines for the month with the MDX seeing a 7% decline, while Honda fell due to the Clarity, down 6%, and the Ridgeline, down 5%. The refreshed HR-V continued to do well, climbing 3%.
Hyundai Kia had very impressive gains in September as average prices rose nearly 8%. The Hyundai brand saw the biggest improvement at 8%, due to the new Palisade SUV and the Kona EV, which rose 7%. Kia was up 6% in September, lifted by the new Telluride SUV and the redesigned Soul, up 5%.
Segment
| September 2019 Transaction (Avg.)* | August 2019 Transaction (Avg.)* | September 2018 (Avg.)* | % Change September | % Change September 2019* | |
Compact Car | $21,015 | $21,020 | $20,521 | 0.0% | 2.4% | |
Compact SUV/Crossover | $29,565 | $29,606 | $28,857 | -0.1% | 2.5% | |
Electric Vehicle | $56,251 | $55,980 | $70,986 | 0.5% | -20.8% | |
Entry-level Luxury Car | $42,471 | $42,705 | $42,609 | -0.5% | -0.3% | |
Full-size Car | $35,128 | $35,526 | $34,592 | -1.1% | 1.6% | |
Full-size Pickup Truck | $50,837 | $50,546 | $49,106 | 0.6% | 3.5% | |
Full-Size SUV/Crossover | $62,826 | $62,529 | $62,643 | 0.5% | 0.3% | |
High Performance Car | $100,910 | $96,562 | $111,549 | 4.5% | -9.5% | |
High-end Luxury Car | $95,881 | $96,690 | $96,850 | -0.8% | -1.0% | |
Hybrid/Alternative Energy Car | $27,150 | $27,054 | $27,446 | 0.4% | -1.1% | |
Luxury Car | $58,987 | $59,764 | $58,795 | -1.3% | 0.3% | |
Luxury Compact SUV/Crossover | $45,376 | $45,435 | $45,971 | -0.1% | -1.3% | |
Luxury Full-size SUV/Crossover | $88,763 | $89,176 | $86,497 | -0.5% | 2.6% | |
Luxury Mid-size SUV/Crossover | $57,507 | $57,804 | $55,941 | -0.5% | 2.8% | |
Mid-size Car | $26,035 | $25,966 | $25,543 | 0.3% | 1.9% | |
Mid-size Pickup Truck | $35,332 | $35,690 | $33,470 | -1.0% | 5.6% | |
Mid-size SUV/Crossover | $39,452 | $39,214 | $38,632 | 0.6% | 2.1% | |
Minivan | $35,457 | $35,458 | $35,006 | 0.0% | 1.3% | |
Sports Car | $35,400 | $35,538 | $35,432 | -0.4% | -0.1% | |
Subcompact Car | $16,917 | $16,704 | $16,578 | 1.3% | 2.0% | |
Subcompact SUV/Crossover | $24,737 | $24,575 | $24,735 | 0.7% | 0.0% | |
Van | $35,539 | $35,390 | $35,558 | 0.4% | -0.1% | |
Grand Total | $37,590 | $37,375 | $37,328 | 0.6% | 0.7% | |
*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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