Average New-Car Prices Rise 2 Percent Year-Over-Year According to Kelley Blue Book
IRVINE, Calif., Oct. 2, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,742 in September 2018. New-vehicle prices increased by $687 (up 2 percent) from September 2017, while remaining flat (down 0.4 percent) from last month.
"While September sales are expected to decline, average transaction prices remained strong, rising 2 percent year-over-year," said Tim Fleming, analyst for Kelley Blue Book. "With interest rates on the rise and manufacturer incentives at a healthy level, thanks to tighter production, monthly payments for consumers are immediately impacted. If gas prices stay high in the fourth quarter, affordability will likely be a concern for new-car buyers and could lead to fewer sales at year-end."
Manufacturer
September
August
September Percent Change August 2018 to
September 2018* Percent Change September
2018 2018 2017 Transaction Price (Avg.)* 2017 to September
Transaction Price (Avg.)* Transaction Price (Avg.)*
2018*
--- ---
American Honda (Acura, Honda) $29,071 $29,318 $27,793 -0.8% 4.6%
---
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) $38,373 $38,200 $38,128 0.5% 0.6%
---
Ford Motor Company (Ford, Lincoln) $40,442 $40,891 $39,198 -1.1% 3.2%
---
General Motors (Buick, Cadillac, Chevrolet, GMC) $40,516 $40,775 $38,973 -0.6% 4.0%
---
Hyundai-Kia $25,119 $25,234 $24,716 -0.5% 1.6%
---
Nissan North America (Nissan, INFINITI) $30,104 $30,440 $29,407 -1.1% 2.4%
---
Subaru $29,480 $29,381 $28,708 0.3% 2.7%
---
Toyota Motor Company (Lexus, Toyota) $32,605 $32,873 $31,810 -0.8% 2.5%
---
Volkswagen Group (Audi, Volkswagen, Porsche) $39,750 $39,804 $40,055 -0.1% -0.8%
---
Industry $35,742 $35,887 $35,055 -0.4% 2.0%
---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
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American Honda and General Motors were the strongest performers with help from redesigned models and the strength of trucks and utility vehicles. Also among the top three performers, Ford Motor Company's average transaction prices grew by 3 percent in September 2018. Lincoln rose 12 percent, thanks to the Navigator, which was up 33 percent. The Ford brand also reported a good month, up 3 percent. The new Expedition had the biggest month for Ford, increasing 16 percent, while Mustang improved 9 percent on a high sales mix of the Mustang GT.
Among the major manufacturers, Volkswagen Group reported the only year-over-year decline, falling 1 percent, as Volkswagen's 2 percent gains were offset by Audi's 4 percent decline. Volkswagen's improvement was largely due to the Tiguan, with its share of sales doubling since its redesign. Audi had a lot of new models in its lineup last year, which is contributing to this year's declines. The Q5, Audi's top seller, was down 2 percent.
Segment
September
August
September
Percent Change August 2018 to September 2018*
Percent Change September
2018 2018
2017 Transaction Price (Avg.)*
2017 to September
Transaction Price (Avg.)*
Transaction Price (Avg.)*
2018*
--- ---
Compact Car $20,508 $20,548 $20,270 -0.2% 1.2%
---
Compact SUV/Crossover $28,594 $28,511 $28,394 0.3% 0.7%
---
Electric Vehicle $37,246 $37,070 $37,959 0.5% -1.9%
---
Entry-level Luxury Car $42,029 $42,046 $42,733 0.0% -1.6%
---
Full-size Car $34,395 $34,713 $34,199 -0.9% 0.6%
---
Full-size Pickup Truck $48,369 $48,684 $47,233 -0.6% 2.4%
---
Full-size SUV/Crossover $61,490 $61,834 $60,525 -0.6% 1.6%
---
High Performance Car $96,505 $98,067 $90,292 -1.6% 6.9%
---
High-end Luxury Car $93,326 $95,330 $94,797 -2.1% -1.6%
---
Hybrid/Alternative Energy Car $26,879 $27,078 $26,439 -0.7% 1.7%
---
Luxury Car $57,388 $57,545 $57,762 -0.3% -0.6%
---
Luxury Compact SUV/Crossover $44,854 $45,384 $44,050 -1.2% 1.8%
---
Luxury Full-size SUV/Crossover $86,827 $88,000 $83,326 -1.3% 4.2%
---
Luxury Mid-size SUV/Crossover $55,294 $54,986 $55,727 0.6% -0.8%
---
Mid-size Car $25,502 $25,456 $25,325 0.2% 0.7%
---
Mid-size Pickup Truck $33,838 $33,820 $32,748 0.1% 3.3%
---
Mid-size SUV/Crossover $38,239 $38,294 $37,796 -0.1% 1.2%
---
Minivan $35,279 $34,639 $36,287 1.8% -2.8%
---
Sports Car $35,442 $35,219 $34,262 0.6% 3.4%
---
Subcompact Car $15,401 $15,469 $15,169 -0.4% 1.5%
---
Subcompact SUV/Crossover $24,147 $23,974 $24,208 0.7% -0.3%
---
Van $35,798 $35,625 $35,203 0.5% 1.7%
---
Grand Total $35,742 $35,887 $35,055 -0.4% 2.0%
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*Kelley Blue Book average transaction prices do not include applied consumer incentives
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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 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.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader(®), Clutch Technologies, Dealer.com(®), Dealertrack(®), Kelley Blue Book(®), Manheim(®), NextGear Capital(®), VinSolutions(®), vAuto(®) and Xtime(®),( )are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com
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SOURCE Kelley Blue Book
