Despite Rising Fuel Prices, Average Transaction Price Increases Greater for SUVs Than Cars, According to Kelley Blue Book

IRVINE, Calif., May 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,411 in April 2018. New-vehicle prices have increased by $710 (up 2 percent) from April 2017, while falling $99 (down 0.3 percent) from last month.   

"Average transaction prices moved up another 2 percent in April, with most manufacturers reporting year-over-year increases," said Tim Fleming, analyst for Kelley Blue Book. "Although fuel prices rose for the second month in a row and are nearing a $3 national average, Kelley Blue Book saw greater price increases for SUV models than with cars. Luxury SUVs performed particularly well, as less price-sensitive luxury buyers splurged for the latest models, such as the Lincoln Navigator (up 30 percent), Volvo XC60 (up 16 percent) and Infiniti QX50 (up 12 percent)."

With its top performance among all major automakers, Toyota Motor Company transaction prices climbed more than 3 percent, helped most by the redesigned Camry, which was up 11 percent. The refreshed Sienna minivan also was up 4 percent, while the Prius climbed 5 percent. The Lexus brand was up 4 percent, as the redesigned LS sedan improved its transaction prices by 15 percent. The RX, now offering a three-row variant, also was up just 1 percent.

Volkswagen Group also showed transaction price strength, up 3 percent in April 2018, with all brands reporting large improvements. The Volkswagen brand was up 9 percent, thanks to the new Atlas and Tiguan SUVs. Porsche was up 7 percent with help from the new Panamera, which was up more than 20 percent. Audi also was up 5 percent, with the redesigned Q5 utility vehicle showing the most improvement at close to 20 percent.

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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 Book^SM 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
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SOURCE Kelley Blue Book