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Average New-Vehicle Prices Jump More Than 6% Year-Over-Year; Most Luxury Segments Decline, According to Kelley Blue Book
Discontinued Lower Price Models Contribute to Stellantis' Transaction Price Strength

IRVINE, Calif., March 11, 2021 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $41,066 in February 2021. New-vehicle prices increased $2,515 (up 6.52%) from February 2020, while falling $31 (down 0.08%) from January 2021.   

"February's average transaction price performance year-over-year has continued to climb," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "On the other hand, month-over-month performance showcases the impact of the luxury and non-luxury mix in the market—with more than half of the luxury vehicle segments reporting drops in transaction prices from January 2021."

Manufacturer

February

2021

Transaction
Price
(Avg.)*

January
2021

Transaction
Price
(Avg.)*

February
2020
Transaction
Price
(Avg.)*

Percent
Change
January 2021
to February
2021*

Percent
Change
February
2020 to
February
2021*

American Honda (Acura, Honda)

$31,766

$30,824

$29,161

3.06%

8.93%

BMW Group

$59,343

$58,439

$57,690

1.55%

2.86%

Daimler

$63,842

$65,803

$62,918

-2.98%

1.47%

Stellantis (Alfa Romeo, Chrysler, Dodge, Fiat,
Jeep, Ram)

$45,653

$45,285

$40,662

0.81%

12.27%

Ford Motor Company (Ford, Lincoln)

$49,155

$47,883

$44,880

2.66%

9.52%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$44,891

$44,277

$41,935

1.39%

7.05%

Hyundai Kia

$30,759

$30,868

$28,781

-0.36%

6.87%

Mazda

$30,445

$30,389

$29,784

0.19%

2.22%

Mitsubishi

$22,964

$22,855

$24,605

0.47%

-6.67%

Nissan North America (Nissan, INFINITI)

$30,806

$30,783

$31,801

0.07%

-3.13%

Subaru

$31,995

$31,878

$31,176

0.37%

2.63%

Tesla Motors

$57,347

$53,119

$57,444

7.96%

-0.17%

Toyota Motor Company (Lexus, Toyota)

$36,217

$36,525

$34,221

-0.84%

5.83%

Volkswagen Group (Audi, Volkswagen, Porsche)

$46,583

$48,559

$42,585

-4.07%

9.39%

Volvo North America

$49,636

$49,515

$47,924

0.25%

3.57%

Industry

$41,066

$41,097

$38,550

-0.08%

6.52%

*Kelley Blue Book average transaction prices do not include applied consumer incentives

Most manufacturers saw year-over-year growth in February 2021; however, Stellantis reported the greatest increase, up 12.27%, while Mitsubishi saw the biggest decline, down 6.67%.

Driving Stellantis' success, were Dodge, Fiat, and Ram, all of which were in the top five for year-over-year brand transaction price increases. The Dodge Durango saw an increase in sales year-over-year, and also benefitted from being the highest priced vehicle in the brand's lineup. Dodge also discontinued the Dodge Caravan in 2020, which was one of its lower-priced models. Additionally, despite a dip in sales from last year, Ram's pickup saw more than 10% growth in its average transaction price.

For the second month in a row, Mitsubishi's two highest priced models—the Eclipse Cross and Outlander—saw year-over-year drops in sales, bringing the average transaction price for the brand down nearly 7%.

The month-over-month view shows Tesla with the most growth at nearly 8%, while Volkswagen decreased most, down 4.07%. Tesla's lowest priced model, Model 3, reported a subtle drop in sales, while its highest priced model, Model X, more than doubled in sales from the previous month—pushing transaction prices up for the brand.

At a segment level, minivans experienced the largest year-over-year growth, up 14.9%, with the luxury car segment following closely behind with more than 14% growth year-over-year in average transaction prices. High performance cars saw the largest drop in average transaction price in February at 6.17%.

Segment

February

2021

Transaction
Price (Avg.)*

January 2021

Transaction
Price
(Avg.)*

February
2020
Transaction
Price
(Avg.)*

Percent
Change
January
2021 to
February
2021*

Percent
Change
February

2020 to
February
2021*

Compact Car

$22,352

$22,363

$21,819

-0.05%

2.44%

Compact SUV/Crossover

$30,682

$30,558

$30,098

0.41%

1.94%

Electric Vehicle

$56,758

$53,675

$56,326

5.74%

0.77%

Entry-level Luxury Car

$46,597

$47,030

$43,649

-0.92%

6.75%

Full-size Car

$39,524

$40,101

$37,337

-1.44%

5.86%

Full-size Pickup Truck

$55,295

$54,491

$51,296

1.48%

7.80%

Full-size SUV/Crossover

$68,461

$68,681

$62,643

-0.32%

9.29%

High Performance Car

$104,297

$104,908

$111,156

-0.58%

-6.17%

High-end Luxury Car

$101,699

$102,249

$103,911

-0.54%

-2.13%

Hybrid/Alternative Energy Car

$29,349

$29,332

$28,597

0.06%

2.63%

Luxury Car

$73,312

$71,717

$64,133

2.22%

14.31%

Luxury Compact SUV/Crossover

$47,975

$47,932

$47,095

0.09%

1.87%

Luxury Full-size SUV/Crossover

$96,878

$97,488

$88,637

-0.63%

9.30%

Luxury Mid-size SUV/Crossover

$63,300

$65,352

$61,092

-3.14%

3.61%

Luxury Subcompact SUV/Crossover

$40,029

$40,377

$39,278

-0.86%

1.91%

Mid-size Car

$28,165

$27,688

$26,681

1.72%

5.56%

Mid-size Pickup Truck

$37,995

$37,702

$36,504

0.78%

4.08%

Mid-size SUV/Crossover

$41,965

$41,689

$39,931

0.66%

5.09%

Minivan

$41,163

$40,766

$35,824

0.97%

14.90%

Sports Car

$41,648

$43,219

$38,628

-3.64%

7.82%

Subcompact Car

$18,299

$18,758

$18,897

-2.45%

-3.16%

Subcompact SUV/Crossover

$26,132

$26,368

$24,996

-0.90%

4.54%

Van

$43,714

$43,313

$41,374

0.93%

5.66%

Industry

$41,066

$41,097

$38,550

-0.08%

6.52%

*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 vehicles 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 nearly $20 billion. www.coxautoinc.com

SOURCE Kelley Blue Book

For further information: Brenna Buehler, 949-473-6595, brenna.buehler@coxautoinc.com
Key Contacts

Sr. Public Relations Manager
Brenna Buehler
949.473.6595
brenna.buehler@coxautoinc.com

Sr. Public Relations Manager
Nichole Mrasek
404.568.6352
nichole.mrasek@coxautoinc.com  

 

  

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