New-Car Transaction Prices Climb Nearly 4 Percent In February 2015, According To Kelley Blue Book

IRVINE, Calif., March 3, 2015 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the only 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 $33,299 in February 2015. New-car prices have increased by $1,145 (up 3.6 percent) from February 2014, while dropping $208 (down 0.6 percent) from last month. 

"An expected higher mix of SUVs, particularly full-size and mid-size, is helping drive the overall industry average upward," said Alec Gutierrez, senior analyst for Kelley Blue Book. "While utility vehicles are thriving, hybrid cars are doing the opposite, with transaction prices falling 2.5 percent from last year. Though rising 30 cents in February, gas prices are still more than a dollar cheaper than this time last year, so it will be interesting to see if these trends hold true in the coming months."

Reporting the largest percentage gain of all major manufacturers, Hyundai-Kia is up 6.6 percent. The Hyundai brand was up 8.3 percent with the biggest increase coming from the redesigned Genesis, which was up 22 percent year-over-year. In addition, Kia's average transaction prices are up 4.8 percent with solid increases from its redesigned Sorento mid-size crossover at 4 percent. 

"Most automakers are benefiting from the utility vehicles in their lineups this month," said Tim Fleming, analyst for Kelley Blue Book. "In fact, American Honda increased 2.2 percent on average with help from strong demand for the CR-V, while Fiat Chrysler also gained on a stronger mix of Jeep and RAM sales compared to this time last year."

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only 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 2014 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for three consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.

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SOURCE Kelley Blue Book