New-Car Transaction Prices Climb Nearly 3 Percent Year-Over-Year In July 2016, Set Record For The Month, According To Kelley Blue Book
Toyota Motor Company Transaction Pricing Strengthens on Tacoma, RAV4 and Lexus RX; Nissan Only Automaker Down From Last Year
IRVINE, Calif., Aug. 2, 2016 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $34,264 in July 2016. New-car prices have increased by $832 (up 2.5 percent) from July 2015, while rising $82 (up 0.2 percent) from last month.
"Low interest rates, longer loan terms and increased leasing are helping consumers afford their monthly payments, which would be upwards of $550 per month on a traditional 60-month term," said Tim Fleming, analyst for Kelley Blue Book. "As the price gap to late-model used cars increases, more shoppers may turn to the pre-owned market for their next vehicle, which could mark a big departure from the new-car sales growth the industry has seen during the past five years."
|
Manufacturer |
July 2016 |
June 2016 |
July 2015 |
Percent 2016 to 2016* |
Percent 2015 to 2016* |
|
American Honda (Acura, Honda) |
$27,214 |
$27,206 |
$26,898 |
0.0% |
1.2% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$35,153 |
$34,912 |
$33,860 |
0.7% |
3.8% |
|
Ford Motor Company (Ford, Lincoln) |
$39,057 |
$39,100 |
$38,224 |
-0.1% |
2.2% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$39,104 |
$38,410 |
$37,866 |
1.8% |
3.3% |
|
$24,990 |
$25,098 |
$24,651 |
-0.4% |
1.4% |
|
|
Nissan North America (Nissan, Infiniti) |
$27,216 |
$27,223 |
$27,388 |
0.0% |
-0.6% |
|
$27,774 |
$28,012 |
$27,286 |
-0.8% |
1.8% |
|
|
Toyota Motor Company (Lexus, Scion, Toyota) |
$31,104 |
$31,184 |
$30,435 |
-0.3% |
2.2% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$39,723 |
$40,249 |
$39,348 |
-1.3% |
1.0% |
|
Industry |
$34,264 |
$34,182 |
$33,432 |
0.2% |
2.5% |
|
*Kelley Blue Book Average Transaction Prices do not include applied consumer incentives |
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While the domestic automakers continue their upward climb in average transaction prices, Toyota also reported a more than 2 percent increase year-over-year. The Toyota brand rose 3 percent with the Tacoma leading the way on a 12 percent improvement in transaction prices. The refreshed RAV4 also was up at 7 percent, while Lexus gained 2 percent from this time last year with help from the RX transaction prices increasing 6 percent to $49,890.
The only automaker down year-over-year is Nissan North America, which fell nearly 1 percent, though the Infiniti brand rose 4 percent on a higher mix of SUV sales. A bright spot for Nissan is the Titan XD pickup, which helped push the model's average prices up 34 percent, but remains a low volume player as less than 1 percent of Nissan sales.
|
Segment |
July 2016 |
June 2016 |
July 2015 |
Percent 2016 to 2016* |
Percent 2015 to 2016* |
|
Compact Car |
$20,454 |
$20,424 |
$20,213 |
0.1% |
1.2% |
|
Compact SUV/Crossover |
$27,717 |
$27,620 |
$26,935 |
0.3% |
2.9% |
|
Electric Vehicle |
$41,374 |
$40,611 |
$43,099 |
1.9% |
-4.0% |
|
Entry-level Luxury Car |
$41,064 |
$40,971 |
$40,486 |
0.2% |
1.4% |
|
Full-size Car |
$34,447 |
$34,613 |
$33,961 |
-0.5% |
1.4% |
|
Full-size Pickup Truck |
$47,181 |
$47,012 |
$45,545 |
0.4% |
3.6% |
|
Full-Size SUV/Crossover |
$58,833 |
$59,080 |
$59,203 |
-0.4% |
-0.6% |
|
High Performance Car |
$95,466 |
$95,425 |
$91,671 |
0.0% |
4.1% |
|
High-end Luxury Car |
$92,502 |
$93,589 |
$86,422 |
-1.2% |
7.0% |
|
Hybrid/Alternative Energy Car |
$26,102 |
$26,389 |
$25,238 |
-1.1% |
3.4% |
|
Luxury Car |
$56,813 |
$57,040 |
$56,433 |
-0.4% |
0.7% |
|
Luxury Compact SUV/Crossover |
$41,625 |
$41,604 |
$41,052 |
0.1% |
1.4% |
|
Luxury Full-size SUV/Crossover |
$83,485 |
$83,038 |
$83,666 |
0.5% |
-0.2% |
|
Luxury Mid-size SUV/Crossover |
$54,749 |
$54,891 |
$52,600 |
-0.3% |
4.1% |
|
Mid-size Car |
$24,997 |
$25,051 |
$24,827 |
-0.2% |
0.7% |
|
Mid-size Pickup Truck |
$32,154 |
$32,341 |
$30,036 |
-0.6% |
7.1% |
|
Mid-size SUV/Crossover |
$36,834 |
$36,536 |
$36,746 |
0.8% |
0.2% |
|
Minivan |
$33,034 |
$32,872 |
$32,284 |
0.5% |
2.3% |
|
Sports Car |
$30,291 |
$30,732 |
$28,241 |
-1.4% |
7.3% |
|
Subcompact Car |
$15,292 |
$15,379 |
$15,080 |
-0.6% |
1.4% |
|
Subcompact SUV/Crossover |
$24,692 |
$24,762 |
$24,580 |
-0.3% |
0.5% |
|
Van |
$34,625 |
$34,910 |
$32,216 |
-0.8% |
7.5% |
|
Grand Total |
$34,264 |
$34,182 |
$33,432 |
0.2% |
2.5% |
|
*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 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's KBB.com ranked highest in its category for brand equity by the 2016 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for five consecutive years. 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 33,000 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 of $18 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
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