Pickup Trucks Help Drive Average Transaction Price Strength for May 2018, According to Kelley Blue Book
Pickup Trucks Help Drive Average Transaction Price Strength for May 2018, According to Kelley Blue Book
IRVINE, Calif., June 1, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,635 in May 2018. New-vehicle prices increased by $1,187 (up 3.4 percent) from May 2017, while falling $145 (down 0.4 percent) from last month.
"Average transaction prices rose a healthy 3 percent this month and remain strong even as new-vehicle demand is expected to falter in 2018," said Tim Fleming, analyst for Kelley Blue Book. "It's no surprise prices were helped by SUV demand, but pickup trucks played a big role in May's increases as well. Prices in both full-size and mid-size truck segments were up 4 percent, and it is shaping up to be a pivotal time for pickups with the new RAM truck now on the market, a new Chevrolet Silverado coming later in the year, and the Ford Ranger returning to the U.S. early next year."
May April May Percent Percent
2018 2018 2017 Change Change
Transaction Transaction Transaction April May
Price (Avg.)* Price (Avg.)* Price (Avg.)* 2018 to 2017 to
May May
2018* 2018*
--- ---- -----
Manufacturer
American Honda (Acura,
Honda) $28,220 $28,409 $27,536 -0.7% 2.5%
---------------------- ------- ------- ------- ---- ---
Fiat Chrysler (Alfa
Romeo, Chrysler, Dodge,
Fiat, Jeep, RAM) $37,282 $37,111 $37,079 0.5% 0.5%
------------------------ ------- ------- ------- --- ---
Ford Motor Company
(Ford, Lincoln) $40,171 $39,966 $38,402 0.5% 4.6%
------------------ ------- ------- ------- --- ---
General Motors (Buick,
Cadillac, Chevrolet,
GMC) $40,148 $40,084 $38,634 0.2% 3.9%
---------------------- ------- ------- ------- --- ---
Hyundai-Kia $25,153 $25,356 $25,157 -0.8% 0.0%
----------- ------- ------- ------- ---- ---
Nissan North America
(Nissan, Infiniti) $28,873 $28,785 $29,267 0.3% -1.3%
-------------------- ------- ------- ------- --- ----
Subaru $28,502 $28,427 $28,239 0.3% 0.9%
------ ------- ------- ------- --- ---
Toyota Motor Company
(Lexus, Toyota) $32,141 $32,587 $31,372 -1.4% 2.5%
-------------------- ------- ------- ------- ---- ---
Volkswagen Group (Audi,
Volkswagen, Porsche) $42,134 $43,395 $39,350 -2.9% 7.1%
------------------------ ------- ------- ------- ---- ---
Industry $35,635 $35,780 $34,448 -0.4% 3.4%
-------- ------- ------- ------- ---- ---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
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Ford Motor Company is among the automakers benefitting from strong utility and pickup truck lineups. Ford Motor Company average transaction prices grew nearly 5 percent in May 2018, as both brands put up solid numbers. Lincoln's average transaction prices are up 14 percent, due to the new Navigator, which jumped 32 percent from this time last year. For the Ford brand, the new Expedition increased 15 percent, while the 460-horsepower Mustang GT helped the model's average improve by 12 percent. A strong mix of F-Series sales also helped Ford, as the brand climbed 4 percent.
General Motors also was up 4 percent year-over-year, with the Chevrolet brand rising the most at 5 percent. Chevrolet's increase came on a strong mix of Silverado sales, as well as the redesigned Traverse, which posted a 12 percent gain. In addition, the new Buick Enclave was up 7 percent, although an expectedly high sales mix of Encore will result in a slight decline in average transaction prices for Buick.
May April May Percent Percent
2018 2018 2017 Change Change
Transaction Transaction Transaction April May
Price Price Price 2018 to 2017 to
(Avg.)* (Avg.)* (Avg.)* May May
2018* 2018*
--- ---- -----
Segment
Compact Car $20,528 $20,516 $20,548 0.1% -0.1%
----------- ------- ------- ------- --- ----
Compact SUV/Crossover $28,459 $28,624 $28,140 -0.6% 1.1%
--------------------- ------- ------- ------- ---- ---
Electric Vehicle $36,539 $36,820 $37,840 -0.8% -3.4%
---------------- ------- ------- ------- ---- ----
Entry-level Luxury Car $42,144 $42,147 $42,186 0.0% -0.1%
---------------------- ------- ------- ------- --- ----
Full-size Car $34,356 $34,406 $34,461 -0.1% -0.3%
------------- ------- ------- ------- ---- ----
Full-size Pickup Truck $48,213 $47,653 $46,459 1.2% 3.8%
---------------------- ------- ------- ------- --- ---
Full-size SUV/Crossover $63,349 $63,038 $60,515 0.5% 4.7%
----------------------- ------- ------- ------- --- ---
High Performance Car $98,422 $101,606 $92,250 -3.1% 6.7%
-------------------- ------- -------- ------- ---- ---
High-end Luxury Car $98,584 $97,830 $99,084 0.8% -0.5%
------------------- ------- ------- ------- --- ----
Hybrid/Alternative Energy
Car $26,614 $26,673 $26,494 -0.2% 0.5%
------------------------- ------- ------- ------- ---- ---
Luxury Car $59,420 $59,267 $57,511 0.3% 3.3%
---------- ------- ------- ------- --- ---
Luxury Compact SUV/Crossover $44,662 $44,902 $42,825 -0.5% 4.3%
---------------------------- ------- ------- ------- ---- ---
Luxury Full-size SUV/
Crossover $89,426 $89,539 $82,354 -0.1% 8.6%
--------------------- ------- ------- ------- ---- ---
Luxury Mid-size SUV/
Crossover $55,968 $56,222 $55,308 -0.5% 1.2%
-------------------- ------- ------- ------- ---- ---
Mid-size Car $25,791 $25,881 $25,151 -0.3% 2.5%
------------ ------- ------- ------- ---- ---
Mid-size Pickup Truck $33,177 $33,284 $32,039 -0.3% 3.6%
--------------------- ------- ------- ------- ---- ---
Mid-size SUV/Crossover $38,175 $38,072 $37,748 0.3% 1.1%
---------------------- ------- ------- ------- --- ---
Minivan $34,588 $34,459 $33,715 0.4% 2.6%
------- ------- ------- ------- --- ---
Sports Car $31,670 $31,629 $31,186 0.1% 1.6%
---------- ------- ------- ------- --- ---
Subcompact Car $15,152 $15,224 $15,225 -0.5% -0.5%
-------------- ------- ------- ------- ---- ----
Subcompact SUV/Crossover $24,281 $24,439 $24,224 -0.6% 0.2%
------------------------ ------- ------- ------- ---- ---
Van $35,148 $34,938 $35,510 0.6% -1.0%
--- ------- ------- ------- --- ----
Grand Total $35,635 $35,780 $34,448 -0.4% 3.4%
----------- ------- ------- ------- ---- ---
*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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SOURCE Kelley Blue Book
