New-Car Transaction Prices Rise Nearly 3 Percent in January 2016, According to Kelley Blue Book

IRVINE, Calif., Feb. 2, 2016 /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 $34,112 in January 2016.  New-car prices have increased by $919 (up 2.8 percent) from January 2015, while declining $553 (down 1.6 percent) from last month. 

"Growing transaction prices reflect growing consumer preference in trucks and SUVs," said Tim Fleming, analyst for Kelley Blue Book.  "Consideration in these segments also is helped by the country's lowest gas prices since 2009, a trend which is expected to last through year-end.  Meanwhile, transaction prices for full-size trucks increased 5.9 percent and 7.9 percent for mid-size trucks."

Fiat Chrysler average transaction prices are up 4.5 percent on strong performances from its Dodge and RAM brands.  Dodge showed improvement across all models as its transaction prices increased 6.5 percent, while RAM was up 6.1 percent on its pickup and ProMaster van.  General Motors was another strong contender benefiting from its truck and SUV products, as the Chevrolet Silverado was up 3.6 percent and the GMC brand increased 7.7 percent.  The Cadillac brand was down 1.9 percent, although Cadillac has been backing off incentives, unlike many other luxury brands.

Rounding out the top three performers year-over-year, Toyota Motor Company had a strong month with a 3.8 percent jump, boosted by its restyled RAV4, which was up 4.3 percent year-over-year.  The Toyota Tacoma, also recently updated, rose 10 percent to $32,830. 

"Four months after the diesel emissions issue, Volkswagen Group continues to face challenges in the market, and transaction prices took a hit in January," said Fleming.  "Volkswagen's most popular model, the Jetta was down 7.9 percent to $20,900."           

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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 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 company.

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SOURCE Kelley Blue Book