Robust Utility, Truck Demand Fuels Average New-Car Price Increase for June 2018, According to Kelley Blue Book
IRVINE, Calif., July 3, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,511 in June 2018. New-vehicle prices increased by $736 (up 2.1 percent) from June 2017, while rising $118 (up 0.3 percent) from last month.
"Helped once again by robust demand for SUVs and trucks, average transaction prices were up a solid 2 percent in June 2018," said Tim Fleming, analyst for Kelley Blue Book. "The mix of light trucks is estimated to be at 69 percent, up from 64 percent just one year ago. Last month was particularly strong for pickup trucks, as full-size truck prices rose 5 percent on new models and richer trim mixes. The underlying strength of trucks is best represented by the mid-size truck segment, which despite no new products, saw prices climb 3 percent."
Manufacturer June May June Percent Percent
2018 2018 2017 Change Change
Transaction Transaction Transaction May June
Price (Avg.)* Price (Avg.)* Price (Avg.)* 2018 to 2017 to
June June
2018* 2018*
--- --- ---- -----
American Honda
(Acura, Honda) $28,288 $28,118 $27,724 0.6% 2.0%
--------------- ------- ------- ------- --- ---
Fiat Chrysler (Alfa
Romeo, Chrysler,
Dodge, Fiat, Jeep,
RAM) $37,435 $37,159 $37,061 0.7% 1.0%
------------------- ------- ------- ------- --- ---
Ford Motor Company
(Ford, Lincoln) $39,916 $39,839 $38,760 0.2% 3.0%
------------------ ------- ------- ------- --- ---
General Motors
(Buick, Cadillac,
Chevrolet, GMC) $41,004 $40,715 $39,144 0.7% 4.7%
------------------ ------- ------- ------- --- ---
Hyundai-Kia $25,009 $24,928 $25,356 0.3% -1.4%
----------- ------- ------- ------- --- ----
Nissan North America
(Nissan, Infiniti) $29,358 $29,401 $28,661 -0.1% 2.4%
-------------------- ------- ------- ------- ---- ---
Subaru $28,423 $28,395 $28,227 0.1% 0.7%
------ ------- ------- ------- --- ---
Toyota Motor Company
(Lexus, Toyota) $32,263 $32,309 $31,453 -0.1% 2.6%
-------------------- ------- ------- ------- ---- ---
Volkswagen Group
(Audi, Volkswagen,
Porsche) $41,255 $41,380 $40,117 -0.3% 2.8%
------------------- ------- ------- ------- ---- ---
Industry $35,511 $35,393 $34,775 0.3% 2.1%
-------- ------- ------- ------- --- ---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
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Despite strength among SUVs and trucks, Toyota Motor Company increased its transaction prices nearly 3 percent, thanks to its cars. Toyota was helped most by the redesigned Camry, which was up 9 percent, and the redesigned Avalon also posted strong numbers, up 7 percent. The Lexus brand increased more than 3 percent, as the redesigned LS sedan continued to show the most improvement, up 14 percent.
Hyundai-Kia prices were slightly down in June 2018, although the Kia brand did rise nearly 1 percent. Kia was helped by the new Stinger model, as well as the Niro, whose plug-in hybrid variant pushed prices up 2 percent. For Hyundai, both the Elantra and Sonata were down, and the new Kona crossover brought down average transaction prices due to its low starting price. The Genesis brand was up 3 percent, largely due to the G80's new 3.3 Turbo Sport trim.
Segment June May June Percent Percent
2018 2018 2017 Change Change
Transaction Transaction Transaction May 2018 June
Price Price Price to June 2017 to
(Avg.)* (Avg.)* (Avg.)* 2018* June
2018*
--- --- -----
Compact Car $20,545 $20,520 $20,396 0.1% 0.7%
----------- ------- ------- ------- --- ---
Compact SUV/Crossover $28,400 $28,456 $28,057 -0.2% 1.2%
--------------------- ------- ------- ------- ---- ---
Electric Vehicle $37,173 $36,475 $37,425 1.9% -0.7%
---------------- ------- ------- ------- --- ----
Entry-level Luxury Car $41,869 $41,820 $42,144 0.1% -0.7%
---------------------- ------- ------- ------- --- ----
Full-size Car $34,623 $34,598 $34,494 0.1% 0.4%
------------- ------- ------- ------- --- ---
Full-size Pickup Truck $49,017 $48,191 $46,566 1.7% 5.3%
---------------------- ------- ------- ------- --- ---
Full-Size SUV/Crossover $62,925 $63,401 $60,686 -0.7% 3.7%
----------------------- ------- ------- ------- ---- ---
High Performance Car $94,799 $97,601 $90,103 -2.9% 5.2%
-------------------- ------- ------- ------- ---- ---
High-end Luxury Car $98,995 $99,034 $95,029 0.0% 4.2%
------------------- ------- ------- ------- --- ---
Hybrid/Alternative Energy Car $27,126 $27,423 $26,417 -1.1% 2.7%
----------------------------- ------- ------- ------- ---- ---
Luxury Car $58,270 $58,899 $57,261 -1.1% 1.8%
---------- ------- ------- ------- ---- ---
Luxury Compact SUV/Crossover $44,800 $44,623 $43,195 0.4% 3.7%
---------------------------- ------- ------- ------- --- ---
Luxury Full-size SUV/Crossover $88,226 $88,949 $81,245 -0.8% 8.6%
------------------------------ ------- ------- ------- ---- ---
Luxury Mid-size SUV/Crossover $55,547 $55,526 $55,839 0.0% -0.5%
----------------------------- ------- ------- ------- --- ----
Mid-size Car $25,606 $25,704 $24,961 -0.4% 2.6%
------------ ------- ------- ------- ---- ---
Mid-size Pickup Truck $33,299 $33,161 $32,192 0.4% 3.4%
--------------------- ------- ------- ------- --- ---
Mid-size SUV/Crossover $38,196 $38,050 $37,870 0.4% 0.9%
---------------------- ------- ------- ------- --- ---
Minivan $34,374 $34,197 $33,297 0.5% 3.2%
------- ------- ------- ------- --- ---
Sports Car $31,757 $31,980 $30,763 -0.7% 3.2%
---------- ------- ------- ------- ---- ---
Subcompact Car $15,266 $15,155 $15,447 0.7% -1.2%
-------------- ------- ------- ------- --- ----
Subcompact SUV/Crossover $24,278 $24,270 $24,283 0.0% 0.0%
------------------------ ------- ------- ------- --- ---
Van $34,944 $34,744 $34,501 0.6% 1.3%
--- ------- ------- ------- --- ---
Grand Total $35,511 $35,393 $34,775 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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