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Average New-Car Prices Rise 2 Percent in February 2018, According to Kelley Blue Book; Buyers Still Willing to Pay Top Dollar for the Latest Models

IRVINE, Calif., March 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,444 in February 2018. New-vehicle prices have increased by $722 (up 2.1 percent) from February 2017, while dropping $96 (down 0.3 percent) from last month.

Kelley Blue Book Logo. (PRNewsFoto/Kelley Blue Book)

"It was another month of solid transaction prices in February 2018, with 2 percent growth year-over-year," said Tim Fleming, analyst for Kelley Blue Book. "Even with new-vehicle demand expected to continue to slow in 2018, average transaction prices have been unaffected, though incentives have risen similarly to offset part of the extra cost. The numbers indicate that new-car buyers are still willing to pay top dollar for the latest models with the most current features and technology. Even the new Honda Accord and Toyota Camry are commanding large premiums over their predecessors, despite competing in a rapidly shrinking segment."

Manufacturer

February

 2018

Transaction
Price (Avg.)*

January

2018

Transaction
Price (Avg.)*

February

2017
Transaction
Price (Avg.)*

Percent
Change
January
2018 to
February
2018*

Percent
Change
February

2017 to
February
2018*

American Honda (Acura, Honda)

$28,482

$28,643

$27,838

-0.6%

2.3%

Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)

$37,105

$37,230

$36,865

-0.3%

0.7%

Ford Motor Company (Ford, Lincoln)

$39,710

$40,126

$38,956

-1.0%

1.9%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$40,013

$39,655

$38,644

0.9%

3.5%

Hyundai-Kia

$25,643

$25,684

$25,122

-0.2%

2.1%

Nissan North America (Nissan, Infiniti)

$29,165

$29,153

$29,040

0.0%

0.4%

Subaru

$28,861

$28,979

$28,550

-0.4%

1.1%

Toyota Motor Company (Lexus, Toyota)

$32,376

$32,413

$31,304

-0.1%

3.4%

Volkswagen  Group (Audi, Volkswagen, Porsche)

$40,978

$42,832

$38,264

-4.3%

7.1%

Industry

$35,444

$35,540

$34,722

-0.3%

2.1%

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

American Honda's transaction prices climbed 2 percent in February 2018, with a 3 percent increase from the Honda brand. The new Accord posted a 6 percent increase, while the Odyssey continues to top the minivan segment, up 13 percent year-over-year. Toyota Motor Company also increased its average transaction prices, up 3 percent on the strength of the redesigned Camry, up 9 percent. The Lexus brand increased 1 percent, although, this could climb in future months with the redesigned LS sedan now reaching dealerships.

Another notable manufacturer includes Volkswagen Group, up 7 percent in February 2018, with all brands showing solid transaction price growth. The Volkswagen brand rose 8 percent, buoyed by the new Atlas SUV. Porsche climbed 8 percent, thanks to the redesigned Panamera, which was up 19 percent. Audi rose 4 percent, with the redesigned A5 and Q5 showing the most improvement.

Segment

February

 2018

Transaction
Price
(Avg.)*

January

2018

Transaction
Price
(Avg.)*

February

2017
Transaction
Price
(Avg.)*

Percent
Change
January
2018 to
February
2018*

Percent
Change
February

2017 to
February
2018*

Compact Car

$20,431

$20,380

$20,636

0.2%

-1.0%

Compact SUV/Crossover

$28,664

$28,648

$28,106

0.1%

2.0%

Electric Vehicle

$38,062

$38,704

$37,314

-1.7%

2.0%

Entry-level Luxury Car

$41,976

$42,143

$41,667

-0.4%

0.7%

Full-size Car

$34,245

$34,483

$34,118

-0.7%

0.4%

Full-size Pickup Truck

$46,903

$46,874

$46,667

0.1%

0.5%

Full-Size SUV/Crossover

$62,000

$61,692

$60,403

0.5%

2.6%

High Performance Car

$99,251

$105,514

$92,919

-5.9%

6.8%

High-end Luxury Car

$100,267

$100,143

$95,793

0.1%

4.7%

Hybrid/Alternative Energy Car

$25,795

$25,859

$25,718

-0.3%

0.3%

Luxury Car

$58,858

$58,904

$56,789

-0.1%

3.6%

Luxury Compact SUV/Crossover

$44,237

$44,613

$43,098

-0.8%

2.6%

Luxury Full-size SUV/Crossover

$84,527

$83,174

$82,483

1.6%

2.5%

Luxury Mid-size SUV/Crossover

$56,522

$56,264

$55,742

0.5%

1.4%

Mid-size Car

$25,788

$25,858

$25,106

-0.3%

2.7%

Mid-size Pickup Truck

$33,235

$32,980

$32,575

0.8%

2.0%

Mid-size SUV/Crossover

$38,542

$38,441

$37,555

0.3%

2.6%

Minivan

$34,220

$34,361

$33,209

-0.4%

3.0%

Sports Car

$30,676

$30,798

$30,794

-0.4%

-0.4%

Subcompact Car

$16,174

$16,278

$16,342

-0.6%

-1.0%

Subcompact SUV/Crossover

$24,504

$24,410

$24,170

0.4%

1.4%

Van

$34,015

$34,258

$35,004

-0.7%

-2.8%

Grand Total

$35,444

$35,540

$34,722

-0.3%

2.1%

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

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com), and get updates on Google+ at https://plus.google.com/+kbb.

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. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 34,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

 

 

SOURCE Kelley Blue Book

For further information: Brenna Buehler, 909-225-4643, brenna.buehler@coxautoinc.com; or Nichole Mrasek, 678-429-7627, nichole.mrasek@coxautoinc.com
Key Contacts

Director of Public Relations
Andrew Nicolai
949.293.5241
andrew.nicolai@coxautoinc.com

Sr. Public Relations Manager
Brenna Buehler
949.267.4781
brenna.buehler@coxautoinc.com

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

For general or customer service inquiries,
please call 1-800-258-3266.

 

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