Average New-Car Prices Up 3% Year-Over-Year for June 2019, According to Kelley Blue Book
IRVINE, Calif., July 2, 2019 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,285 in June 2019. New-vehicle prices increased $1,131 (up 3.1%) from June 2018, while decreasing $67 (down 0.2%) from last month.
"Transaction price growth accelerated in June, climbing 3% as demand for trucks and SUVs pushed sales and prices up in those segments. Light trucks and SUVs are expected to account for about 71% of sales in June, up from 68% a year ago.," said Tim Fleming, analyst for Kelley Blue Book. "Overall, SUV prices were up 4% and trucks rose 3%, while car prices were flat (and still lost market share). Luxury and mainstream mid-size SUVs are showing the most strength right now, with brand new models such as the BMW X7 and Kia Telluride driving incremental sales and price growth for their brands."
Manufacturer
June
May
June
% Change
% Change
2019 2019 2018
May 2019
June 2018
Transaction
Transaction
Transaction
to
to
Price (Avg.)* Price
(Avg.)*
Price (Avg.)*
June
June
2019*
2019*
--- ---
American Honda (Acura, Honda) $28,640 $28,534 $28,679 0.4% -0.1%
---
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) $40,146 $40,334 $37,565 -0.5% 6.9%
---
Ford Motor Company (Ford, Lincoln) $41,659 $41,720 $40,012 -0.1% 4.1%
---
General Motors (Buick, Cadillac, Chevrolet, GMC) $42,289 $42,316 $41,478 -0.1% 2.0%
---
Hyundai-Kia $26,031 $26,180 $25,228 -0.6% 3.2%
---
Nissan North America (Nissan, INFINITI) $29,935 $29,737 $29,786 0.7% 0.5%
---
Subaru $29,803 $30,081 $28,540 -0.9% 4.4%
---
Toyota Motor Company (Lexus, Toyota) $33,565 $33,473 $32,657 0.3% 2.8%
---
Volkswagen Group (Audi, Volkswagen, Porsche) $43,436 $43,664 $41,494 -0.5% 4.7%
---
Industry $37,285 $37,352 $36,154 -0.2% 3.1%
---
*Kelley Blue Book average transaction prices do not include applied consumer incentives
---
Fiat Chrysler had another strong month, posting nearly a 7% increase, thanks to RAM and Jeep. The new Jeep Gladiator pickup transacted in the mid-$50,000 range as the sales mix skewed heavily toward the high-end Rubicon trim, and in addition, the Gladiator beat the next closest mid-size truck by nearly $18,000. Ford Motor Company's average prices were up 4% in June, with Ford rising 4% and Lincoln up 3%. At Ford, the refreshed Edge had a 5% gain, while the Mustang GT helped push the Mustang's average up 7%. At Lincoln, the Nautilus was clearly the best performer, growing its ATPs by 6%, but the refreshed MKC also had a good month as its prices rose 4%.
Hyundai Kia prices rose 3% in June, with Kia having the biggest increase. Kia had help from several models, including the redesigned Forte and Soul, as well as the new Niro EV and Telluride. Hyundai's best performer was the Veloster, although the Kona EV also provided a lift. The Genesis brand fell by 12% following the introduction of the G70 sedan as the new entry point and volume leader in its lineup; however, Genesis' sales volume should increase substantially over last year.
Segment
June
May
June %
Change % Change
2019 2019 2018 May
2019 June 2018
Transaction Transaction Transaction
to
to
Price
Price
Price
June
June
(Avg.)*
(Avg.)*
(Avg.)* 2019*
2019*
--- ---
Compact Car $20,943 $20,843 $20,480 0.5% 2.3%
---
Compact SUV/Crossover $29,393 $29,352 $28,411 0.1% 3.5%
---
Electric Vehicle $55,646 $55,670 $68,562 0.0% -18.8%
---
Entry-level Luxury Car $42,305 $42,997 $42,700 -1.6% -0.9%
---
Full-size Car $35,377 $35,587 $35,140 -0.6% 0.7%
---
Full-size Pickup Truck $50,843 $50,417 $49,137 0.8% 3.5%
---
Full-Size SUV/Crossover $62,070 $62,237 $61,723 -0.3% 0.6%
---
High Performance Car $104,338 $104,891 $97,792 -0.5% 6.7%
---
High-end Luxury Car $97,894 $97,795 $99,772 0.1% -1.9%
---
Hybrid/Alternative Energy Car $26,997 $27,074 $27,443 -0.3% -1.6%
---
Luxury Car $59,871 $60,124 $59,503 -0.4% 0.6%
---
Luxury Compact SUV/Crossover $45,113 $45,300 $45,134 -0.4% 0.0%
---
Luxury Full-size SUV/Crossover $88,795 $88,347 $88,915 0.5% -0.1%
---
Luxury Mid-size SUV/Crossover $59,403 $59,650 $56,166 -0.4% 5.8%
---
Mid-size Car $25,788 $25,778 $25,588 0.0% 0.8%
---
Mid-size Pickup Truck $34,983 $35,127 $33,466 -0.4% 4.5%
---
Mid-size SUV/Crossover $38,771 $38,820 $37,592 -0.1% 3.1%
---
Minivan $34,674 $34,684 $34,153 0.0% 1.5%
---
Sports Car $36,546 $36,346 $36,026 0.5% 1.4%
---
Subcompact Car $16,688 $16,543 $16,524 0.9% 1.0%
---
Subcompact SUV/Crossover $24,291 $24,182 $24,348 0.5% -0.2%
---
Van $35,101 $35,102 $34,916 0.0% 0.5%
---
Grand Total $37,285 $37,352 $36,154 -0.2% 3.1%
---
*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
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