New-Car Transaction Prices Climb Nearly 2 Percent Year-Over-Year In April 2017, According To Kelley Blue Book
Demand for SUV Segments Continues to Drive Higher Transaction Prices
IRVINE, Calif., May 2, 2017 /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 reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,552 in April 2017. New-car prices have increased by $579 (up 1.7 percent) from April 2016, while falling $48 (down 0.1 percent) from last month.
"While new vehicle sales appear to be on the decline, most manufacturers are seeing higher retail transaction prices, with the industry average on new-car prices up for the month by nearly 2 percent," said Tim Fleming, analyst for Kelley Blue Book. "These increases appear to be primarily driven by the shift in demand toward SUVs, even with growing segments, such as subcompact SUVs and luxury compact SUVs, seeing year-over-year price declines. Kelley Blue Book anticipates average transaction prices will likely begin to decrease when the sales mix of SUVs eventually levels off."
|
Manufacturer |
April 2017 Transaction (Avg.)* |
March 2017 Transaction (Avg.)* |
April 2016 (Avg.)* |
Percent |
Percent 2016 to |
|
American Honda (Acura, Honda) |
$27,749 |
$27,747 |
$27,395 |
0.0% |
1.3% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$36,353 |
$36,521 |
$35,199 |
-0.5% |
3.3% |
|
Ford Motor Company (Ford, Lincoln) |
$38,647 |
$38,697 |
$37,451 |
-0.1% |
3.2% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$38,339 |
$38,399 |
$38,590 |
-0.2% |
-0.7% |
|
$24,911 |
$24,859 |
$24,241 |
0.2% |
2.8% |
|
|
Nissan North America (Nissan, Infiniti) |
$29,378 |
$29,547 |
$27,628 |
-0.6% |
6.3% |
|
$28,536 |
$28,559 |
$28,098 |
-0.1% |
1.6% |
|
|
Toyota Motor Company (Lexus, Toyota) |
$31,460 |
$31,557 |
$31,183 |
-0.3% |
0.9% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$39,382 |
$38,900 |
$40,422 |
1.2% |
-2.6% |
|
Industry |
$34,552 |
$34,600 |
$33,973 |
-0.1% |
1.7% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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Fiat Chrysler was up more than 3 percent year-over-year in April 2017. The Chrysler brand saw an 11 percent increase, due to the new Pacifica minivan and lower sales of the 200 sedan. Meanwhile, Jeep increased 5 percent thanks to a stronger mix of the Grand Cherokee as the smaller Compass SUV changes to a new generation. The RAM brand, however, was down 3 percent as full-size pickup truck prices continue to dip.
Conversely, General Motors average transaction prices fell nearly 1 percent, with only the Buick brand posting a year-over-year increase. The redesigned LaCrosse sedan, which was up 9 percent, and the all-new Envision SUV helped boost Buick's growth. The Chevrolet brand saw a 2 percent decline, with the Silverado down 4 percent from last year.
|
Segment |
April 2017 Transaction Price (Avg.)* |
March 2017 Transaction Price (Avg.)* |
April 2016 Transaction Price (Avg.)* |
Percent Change March 2017 to April 2017* |
Percent Change April 2016 to April 2017* |
|
Compact Car |
$20,577 |
$20,600 |
$20,280 |
-0.1% |
1.5% |
|
Compact SUV/Crossover |
$28,507 |
$28,449 |
$28,035 |
0.2% |
1.7% |
|
Electric Vehicle |
$37,492 |
$37,426 |
$41,148 |
0.2% |
-8.9% |
|
Entry-Level Luxury Car |
$41,643 |
$41,887 |
$40,479 |
-0.6% |
2.9% |
|
Full-Size Car |
$34,736 |
$34,570 |
$34,236 |
0.5% |
1.5% |
|
Full-Size Pickup Truck |
$46,182 |
$46,160 |
$46,438 |
0.0% |
-0.6% |
|
Full-Size SUV/Crossover |
$60,771 |
$60,409 |
$60,175 |
0.6% |
1.0% |
|
High Performance Car |
$92,694 |
$91,469 |
$92,966 |
1.3% |
-0.3% |
|
High-End Luxury Car |
$95,545 |
$96,217 |
$94,395 |
-0.7% |
1.2% |
|
Hybrid/Alternative Energy Car |
$25,157 |
$25,330 |
$26,307 |
-0.7% |
-4.4% |
|
Luxury Car |
$56,957 |
$56,917 |
$56,338 |
0.1% |
1.1% |
|
Luxury Compact SUV/Crossover |
$42,915 |
$43,091 |
$43,652 |
-0.4% |
-1.7% |
|
Luxury Full-Size SUV/Crossover |
$83,689 |
$82,712 |
$83,681 |
1.2% |
0.0% |
|
Luxury Mid-Size SUV/Crossover |
$54,418 |
$54,961 |
$55,187 |
-1.0% |
-1.4% |
|
Mid-Size Car |
$25,059 |
$25,006 |
$25,087 |
0.2% |
-0.1% |
|
Mid-Size Pickup Truck |
$31,576 |
$31,878 |
$31,682 |
-0.9% |
-0.3% |
|
Mid-Size SUV/Crossover |
$37,327 |
$37,211 |
$37,608 |
0.3% |
-0.7% |
|
Minivan |
$33,164 |
$33,211 |
$32,096 |
-0.1% |
3.3% |
|
Sports Car |
$31,468 |
$31,119 |
$31,852 |
1.1% |
-1.2% |
|
Subcompact Car |
$16,283 |
$16,439 |
$16,418 |
-0.9% |
-0.8% |
|
Subcompact SUV/Crossover |
$24,588 |
$24,507 |
$24,895 |
0.3% |
-1.2% |
|
Van |
$33,882 |
$33,864 |
$33,378 |
0.1% |
1.5% |
|
Grand Total |
$34,552 |
$34,600 |
$33,973 |
-0.1% |
1.7% |
|
*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 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 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
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