Average New-Car Prices Rise Nearly 2 Percent Year-Over-Year, Set New Record High, According To Kelley Blue Book

IRVINE, Calif., Dec. 1, 2017 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,870 in November 2017. New-car prices have increased by $554 (up 1.6 percent) from November 2016, while climbing $83 (up 0.2 percent) from last month.

"Transaction prices reached a new record high in November 2017," said Tim Fleming, analyst for Kelley Blue Book. "Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34 percent and is trending downward. Kelley Blue Book continues to see much of the consumer demand geared toward small SUVs, which saw prices rise by 3 percent, in addition to strong sales growth. This segment features many recent redesigns, and shows no signs of weakness despite the overall down market for new vehicles."

Ford Motor Company saw solid transaction price growth of nearly 3 percent in November 2017, helped by a strong mix of F-Series Super Duty sales this month. The Mustang also had a good month, with prices rising 3 percent.  Lincoln declined 1 percent; however, the next-generation Navigator is now reaching dealerships and may provide a large lift for the brand.

Meanwhile, Toyota Motor Company's transaction prices climbed two percent. The redesigned Camry increased 10 percent, while Toyota's top seller, the RAV4, saw gains of 6 percent on a strong sales mix of the RAV4 Hybrid, which helped the Toyota brand improve by 3 percent.

To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to schedule an interview.

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 the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. 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 Co., Inc. 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, software, financial, wholesale and e-commerce 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 32,000-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