Average New-Car Prices Rise 2 Percent in February 2018, According to Kelley Blue Book; Buyers Still Willing to Pay Top Dollar for the Latest Models
IRVINE, Calif., March 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,444 in February 2018. New-vehicle prices have increased by $722 (up 2.1 percent) from February 2017, while dropping $96 (down 0.3 percent) from last month.
"It was another month of solid transaction prices in February 2018, with 2 percent growth year-over-year," said Tim Fleming, analyst for Kelley Blue Book. "Even with new-vehicle demand expected to continue to slow in 2018, average transaction prices have been unaffected, though incentives have risen similarly to offset part of the extra cost. The numbers indicate that new-car buyers are still willing to pay top dollar for the latest models with the most current features and technology. Even the new Honda Accord and Toyota Camry are commanding large premiums over their predecessors, despite competing in a rapidly shrinking segment."
Manufacturer February January February Percent Percent
Change Change
2018 2018 2017 January February
Transaction 2018 to
Transaction Transaction Price (Avg.)* February 2017 to
Price (Avg.)* Price (Avg.)* 2018* February
2018*
--- --- -----
American Honda (Acura, Honda) $28,482 $28,643 $27,838 -0.6% 2.3%
---------------------------- ------- ------- ------- ---- ---
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) $37,105 $37,230 $36,865 -0.3% 0.7%
----------------------------------------------------------- ------- ------- ------- ---- ---
Ford Motor Company (Ford, Lincoln) $39,710 $40,126 $38,956 -1.0% 1.9%
--------------------------------- ------- ------- ------- ---- ---
General Motors (Buick, Cadillac, Chevrolet, GMC) $40,013 $39,655 $38,644 0.9% 3.5%
----------------------------------------------- ------- ------- ------- --- ---
Hyundai-Kia $25,643 $25,684 $25,122 -0.2% 2.1%
----------- ------- ------- ------- ---- ---
Nissan North America (Nissan, Infiniti) $29,165 $29,153 $29,040 0.0% 0.4%
-------------------------------------- ------- ------- ------- --- ---
Subaru $28,861 $28,979 $28,550 -0.4% 1.1%
------ ------- ------- ------- ---- ---
Toyota Motor Company (Lexus, Toyota) $32,376 $32,413 $31,304 -0.1% 3.4%
----------------------------------- ------- ------- ------- ---- ---
Volkswagen Group (Audi, Volkswagen, Porsche) $40,978 $42,832 $38,264 -4.3% 7.1%
-------------------------------------------- ------- ------- ------- ---- ---
Industry $35,444 $35,540 $34,722 -0.3% 2.1%
-------- ------- ------- ------- ---- ---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
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American Honda's transaction prices climbed 2 percent in February 2018, with a 3 percent increase from the Honda brand. The new Accord posted a 6 percent increase, while the Odyssey continues to top the minivan segment, up 13 percent year-over-year. Toyota Motor Company also increased its average transaction prices, up 3 percent on the strength of the redesigned Camry, up 9 percent. The Lexus brand increased 1 percent, although, this could climb in future months with the redesigned LS sedan now reaching dealerships.
Another notable manufacturer includes Volkswagen Group, up 7 percent in February 2018, with all brands showing solid transaction price growth. The Volkswagen brand rose 8 percent, buoyed by the new Atlas SUV. Porsche climbed 8 percent, thanks to the redesigned Panamera, which was up 19 percent. Audi rose 4 percent, with the redesigned A5 and Q5 showing the most improvement.
Segment February January February Percent Percent
Change Change
2018 2018 2017 January February
Transaction 2018 to
Transaction Transaction Price February 2017 to
Price Price (Avg.)* 2018* February
(Avg.)* (Avg.)* 2018*
--- ------ ------ ----
Compact Car $20,431 $20,380 $20,636 0.2% -1.0%
----------- ------- ------- ------- --- ----
Compact SUV/Crossover $28,664 $28,648 $28,106 0.1% 2.0%
--------------------- ------- ------- ------- --- ---
Electric Vehicle $38,062 $38,704 $37,314 -1.7% 2.0%
---------------- ------- ------- ------- ---- ---
Entry-level Luxury Car $41,976 $42,143 $41,667 -0.4% 0.7%
---------------------- ------- ------- ------- ---- ---
Full-size Car $34,245 $34,483 $34,118 -0.7% 0.4%
------------- ------- ------- ------- ---- ---
Full-size Pickup Truck $46,903 $46,874 $46,667 0.1% 0.5%
---------------------- ------- ------- ------- --- ---
Full-Size SUV/Crossover $62,000 $61,692 $60,403 0.5% 2.6%
----------------------- ------- ------- ------- --- ---
High Performance Car $99,251 $105,514 $92,919 -5.9% 6.8%
-------------------- ------- -------- ------- ---- ---
High-end Luxury Car $100,267 $100,143 $95,793 0.1% 4.7%
------------------- -------- -------- ------- --- ---
Hybrid/Alternative Energy Car $25,795 $25,859 $25,718 -0.3% 0.3%
----------------------------- ------- ------- ------- ---- ---
Luxury Car $58,858 $58,904 $56,789 -0.1% 3.6%
---------- ------- ------- ------- ---- ---
Luxury Compact SUV/Crossover $44,237 $44,613 $43,098 -0.8% 2.6%
---------------------------- ------- ------- ------- ---- ---
Luxury Full-size SUV/Crossover $84,527 $83,174 $82,483 1.6% 2.5%
------------------------------ ------- ------- ------- --- ---
Luxury Mid-size SUV/Crossover $56,522 $56,264 $55,742 0.5% 1.4%
----------------------------- ------- ------- ------- --- ---
Mid-size Car $25,788 $25,858 $25,106 -0.3% 2.7%
------------ ------- ------- ------- ---- ---
Mid-size Pickup Truck $33,235 $32,980 $32,575 0.8% 2.0%
--------------------- ------- ------- ------- --- ---
Mid-size SUV/Crossover $38,542 $38,441 $37,555 0.3% 2.6%
---------------------- ------- ------- ------- --- ---
Minivan $34,220 $34,361 $33,209 -0.4% 3.0%
------- ------- ------- ------- ---- ---
Sports Car $30,676 $30,798 $30,794 -0.4% -0.4%
---------- ------- ------- ------- ---- ----
Subcompact Car $16,174 $16,278 $16,342 -0.6% -1.0%
-------------- ------- ------- ------- ---- ----
Subcompact SUV/Crossover $24,504 $24,410 $24,170 0.4% 1.4%
------------------------ ------- ------- ------- --- ---
Van $34,015 $34,258 $35,004 -0.7% -2.8%
--- ------- ------- ------- ---- ----
Grand Total $35,444 $35,540 $34,722 -0.3% 2.1%
----------- ------- ------- ------- ---- ---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
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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 market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue Book(SM) Instant Cash Offer. 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 is a Cox Automotive brand.
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