Average New-Vehicle Prices Up 1.3% Year-Over-Year in November 2020, Down 1.2% from Last Month, According to Kelley Blue Book
IRVINE, Calif., Dec. 1, 2020 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $39,259 in November 2020. New-vehicle prices increased $499 (up 1.3%) from November 2019, while falling $480 (down 1.2%) from last month.
"COVID-19 began its second surge with cases on the rise this past month and right before for the holiday season," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "Consumer confidence has been faltering and unemployment remains stubbornly high. Still, consumers in the market for new vehicles are demonstrating an ability to pay premium prices. While average transaction prices are down from last month, they remain historically elevated, with November forecasted to be the third-highest month on record."
Manufacturer | November 2020 Transaction Price (Avg.)* | October 2020 Transaction Price (Avg.)* | November 2019 Transaction Price (Avg.)* | Percent | Percent Change November 2019 to November 2020* |
American Honda (Acura, Honda) | $29,748 | $30,053 | $28,986 | -1.02% | 2.63% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $43,746 | $43,547 | $41,241 | 0.46% | 6.07% |
Ford Motor Company (Ford, Lincoln) | $46,936 | $47,240 | $45,078 | -0.64% | 4.12% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $44,568 | $44,791 | $42,501 | -0.50% | 4.86% |
$29,137 | $29,101 | $27,661 | 0.12% | 5.34% | |
Nissan North America (Nissan, INFINITI) | $30,395 | $30,701 | $30,607 | -1.00% | -0.69% |
$31,484 | $31,129 | $30,899 | 1.14% | 1.90% | |
Toyota Motor Company (Lexus, Toyota) | $35,477 | $35,931 | $34,797 | -1.26% | 1.96% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $37,395 | $40,258 | $44,979 | -7.11% | -16.86% |
Industry | $39,259 | $39,739 | $38,760 | -1.2% | 1.3% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
The only automakers with both month-over-month and year-over-year gains included Fiat Chrysler, Hyundai Kia, and Subaru, with Fiat Chrysler reporting the largest year-over-year growth at 6%. Nissan North America and Volkswagen Group were down from last month and this time last year.
At the segment level, vans reported the largest year-over-year increases, up 9.57%, with the full-size car and full-size pickup segments following behind—up more than 7% year-over-year.
Segment | November 2020 Transaction | October 2020 Transaction | November 2019 Transaction | Percent Change | Percent Change 2019 to November 2020* |
Compact Car | $21,945 | $21,936 | $21,246 | 0.04% | 3.29% |
Compact SUV/Crossover | $30,038 | $30,207 | $29,647 | -0.56% | 1.32% |
Electric Vehicle | $43,703 | $42,862 | $47,500 | 1.96% | -7.99% |
Entry-level Luxury Car | $43,223 | $43,548 | $45,092 | -0.74% | -4.14% |
Full-size Car | $39,643 | $39,529 | $36,818 | 0.29% | 7.67% |
Full-size Pickup Truck | $54,854 | $54,182 | $51,259 | 1.24% | 7.01% |
Full-size SUV/Crossover | $67,576 | $67,869 | $63,891 | -0.43% | 5.77% |
High Performance Car | $82,601 | $85,987 | $118,053 | -3.94% | -30.03% |
High-end Luxury Car | $94,597 | $99,142 | $100,945 | -4.58% | -6.29% |
Hybrid/Alternative Energy Car | $28,725 | $28,388 | $28,540 | 1.19% | 0.65% |
Luxury Car | $59,291 | $60,486 | $63,717 | -1.98% | -6.95% |
Luxury Compact SUV/Crossover | $47,473 | $47,209 | $46,883 | 0.56% | 1.26% |
Luxury Full-size SUV/Crossover | $89,229 | $89,028 | $88,213 | 0.23% | 1.15% |
Luxury Mid-size SUV/Crossover | $57,890 | $59,267 | $61,736 | -2.32% | -6.23% |
Luxury Subcompact SUV/Crossover | $39,715 | $39,414 | $39,417 | 0.76% | 0.76% |
Mid-size Car | $26,899 | $27,065 | $26,408 | -0.61% | 1.86% |
Mid-size Pickup Truck | $36,743 | $36,989 | $36,142 | -0.67% | 1.66% |
Mid-size SUV/Crossover | $41,031 | $40,951 | $39,856 | 0.19% | 2.95% |
Minivan | $35,937 | $36,003 | $34,746 | -0.18% | 3.43% |
Sports Car | $39,608 | $40,615 | $39,093 | -2.48% | 1.32% |
Subcompact Car | $18,733 | $18,606 | $18,434 | 0.68% | 1.63% |
Subcompact SUV/Crossover | $25,303 | $25,483 | $25,007 | -0.71% | 1.18% |
Van | $40,719 | $41,100 | $37,162 | -0.93% | 9.57% |
Industry | $39,259 | $39,739 | $38,760 | -1.2% | 1.3% |
*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.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's more than 27,000 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 annual revenues of $21 billion. www.coxautoinc.com
SOURCE Kelley Blue Book
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