New-Car Transaction Prices Increase Nearly 2 Percent In April 2016, According To Kelley Blue Book

IRVINE, Calif., May 3, 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 $33,865 in April 2016.  New-car prices have increased by $620 (up 1.9 percent) from April 2015, while increasing $74 (up 0.2 percent) from last month. 

"April 2016 continues to show steady improvement in average transaction prices for nearly all manufacturers, with particularly strong numbers for the Detroit automakers," said Tim Fleming, analyst for Kelley Blue Book.  "Even though gas prices rose slightly in April, truck segments saw the largest year-over-year increases, with mid-size trucks climbing nearly 7 percent on average.  This segment is on the rise, as consumers who don't need a full-size truck are finding they can still get many amenities and plenty of utility from the new mid-size trucks now available."

Among all major automakers, Fiat Chrysler had the largest increase in transaction prices at 4.8 percent year-over-year.  The Dodge brand increased 4 percent on its large cars, the Charger (up 5 percent) and Challenger (up 8 percent), while RAM grew 5 percent on a larger mix of the pricier crew cab configuration for its pickup truck. 

General Motors' transaction prices rose a healthy 4.6 percent in April 2016, with all brands moving upward except Buick, which was flat.  The all-new Chevrolet Camaro had the biggest increase at 10 percent, while the Silverado gained 6 percent on a strong mix of crew cab sales.  These helped push the Chevrolet brand up 6 percent at $35,943. 

Lastly, Ford Motor Company jumped 2.1 percent, thanks to strong numbers from the Explorer, which was up 5 percent.  Ford's biggest seller, the F-Series, was up 1.5 percent.  Lincoln also had a good month, as pricing increased 5 percent to $46,901, with the biggest increase coming from the MKX at 9 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 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 2015 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for four 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 nearly 30,000 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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SOURCE Kelley Blue Book