Average New-Vehicle Prices Up Nearly 3% Year-Over-Year, According to Kelley Blue Book
IRVINE, Calif., Nov. 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 $38,259 in October 2019. New-vehicle prices increased $1,064 (up 2.9%) from October 2018, while decreasing $141 (down 0.4%) from last month.
"Average transaction prices were generally favorable for most automakers, as the industry average climbed 3% year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs," said Tim Fleming, analyst for Kelley Blue Book. "However, car prices did grow by 2% in October 2019, their biggest improvement in nearly a year."
Manufacturers are focusing incentive programs on the increasingly competitive utility segments, helping make those vehicles more affordable to consumers. Trucks have shown the most strength of any segment with full-size trucks up 3%, while mid-size trucks rose 6%, aided by new and redesigned models.
Manufacturer | October 2019 Transaction Price (Avg.)* | September 2019 Transaction Price (Avg.)* | October 2018 Transaction Price (Avg.)* | Percent Change September 2019 to October 2019* | Percent Change October 2018 to October 2019* |
American Honda (Acura, Honda) | $28,936 | $28,752 | $29,830 | 0.6% | -3.0% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $40,712 | $41,064 | $39,266 | -0.9% | 3.7% |
Ford Motor Company (Ford, Lincoln) | $43,052 | $43,150 | $40,779 | -0.2% | 5.6% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $42,596 | $42,732 | $41,063 | -0.3% | 3.7% |
$26,612 | $26,918 | $24,616 | -1.1% | 8.1% | |
Nissan North America (Nissan, INFINITI) | $30,999 | $30,828 | $29,937 | 0.6% | 3.5% |
$30,179 | $29,975 | $30,018 | 0.7% | 0.5% | |
Toyota Motor Company (Lexus, Toyota) | $34,106 | $33,974 | $33,512 | 0.4% | 1.8% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $42,684 | $44,430 | $41,391 | -3.9% | 3.1% |
Industry | $38,259 | $38,400 | $37,195 | -0.4% | 2.9% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
Among the top performers, Ford Motor Company was up nearly 6% in October 2019 with Ford and Lincoln brands both enjoying increases. The Nautilus had the best month for Lincoln, rising 5%, and the Aviator is having a solid impact, transacting in the high $60,000 range. The redesigned Explorer saw the most improvement, up 15%, while the refreshed Edge was up 4%.
Fiat Chrysler and General Motors also reported strong average transaction prices for October 2019, both up nearly 4% year-over-year.
Segment | October 2019 Transaction Price (Avg.)* | September 2019 Transaction Price (Avg.)* | October 2018 Transaction Price (Avg.)* | Percent Change September 2019 to October 2019* | Percent Change October 2018 to October 2019* |
Compact Car | $21,021 | $20,977 | $20,513 | 0.2% | 2.5% |
Compact SUV/Crossover | $29,659 | $29,539 | $28,962 | 0.4% | 2.4% |
Electric Vehicle | $53,664 | $54,339 | $63,264 | -1.2% | -15.2% |
Entry-level Luxury Car | $42,123 | $41,853 | $42,682 | 0.6% | -1.3% |
Full-size Car | $34,980 | $35,266 | $35,045 | -0.8% | -0.2% |
Full-size Pickup Truck | $51,036 | $50,978 | $49,467 | 0.1% | 3.2% |
Full-size SUV/Crossover | $63,501 | $63,145 | $63,120 | 0.6% | 0.6% |
High Performance Car | $116,936 | $114,281 | $113,581 | 2.3% | 3.0% |
High-end Luxury Car | $98,158 | $97,331 | $99,224 | 0.8% | -1.1% |
Hybrid/Alternative Energy Car | $27,677 | $27,212 | $28,231 | 1.7% | -2.0% |
Luxury Car | $58,896 | $59,196 | $58,531 | -0.5% | 0.6% |
Luxury Compact SUV/Crossover | $46,165 | $46,681 | $47,235 | -1.1% | -2.3% |
Luxury Full-size SUV/Crossover | $88,726 | $88,804 | $87,473 | -0.1% | 1.4% |
Luxury Mid-size SUV/Crossover | $59,094 | $60,291 | $56,286 | -2.0% | 5.0% |
Luxury Subcompact SUV/Crossover | $39,823 | $39,517 | $40,102 | 0.8% | -0.7% |
Mid-size Car | $27,968 | $28,075 | $26,713 | -0.4% | 4.7% |
Mid-size Pickup Truck | $35,744 | $36,068 | $33,732 | -0.9% | 6.0% |
Mid-size SUV/Crossover | $39,780 | $39,652 | $39,090 | 0.3% | 1.8% |
Minivan | $35,196 | $35,057 | $35,380 | 0.4% | -0.5% |
Sports Car | $35,525 | $36,323 | $35,499 | -2.2% | 0.1% |
Subcompact Car | $16,954 | $16,953 | $16,382 | 0.0% | 3.5% |
Subcompact SUV/Crossover | $24,952 | $24,852 | $24,675 | 0.4% | 1.1% |
Van | $35,881 | $36,176 | $34,643 | -0.8% | 3.6% |
*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
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. coxautoinc.com
SOURCE Kelley Blue Book
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