Average New-Vehicle Prices Up Nearly 3% Year-Over-Year, According to Kelley Blue Book
Tuesday, November 5th, 2019
The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the United States was $38,259 in October 2019. New-vehicle prices increased $1,064 (up 2.9%) from October 2018, while decreasing $141 (down 0.4%) from last month.
"Average transaction prices were generally favorable for most automakers, as the industry average climbed 3% year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs," said Tim Fleming, analyst for Kelley Blue Book. "However, car prices did grow by 2% in October 2019, their biggest improvement in nearly a year."
Manufacturers are focusing incentive programs on the increasingly competitive utility segments, helping make those vehicles more affordable to consumers. Trucks have shown the most strength of any segment with full-size trucks up 3%, while mid-size trucks rose 6%, aided by new and redesigned models.
|
Manufacturer |
October 2019 Transaction Price (Avg.)* |
September 2019 Transaction Price (Avg.)* |
October 2018 Transaction Price (Avg.)* |
Percent Change September 2019 to October 2019* |
Percent Change October 2018 to October 2019* |
|
American Honda (Acura, Honda) |
$28,936 |
$28,752 |
$29,830 |
0.6% |
-3.0% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$40,712 |
$41,064 |
$39,266 |
-0.9% |
3.7% |
|
Ford Motor Company (Ford, Lincoln) |
$43,052 |
$43,150 |
$40,779 |
-0.2% |
5.6% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$42,596 |
$42,732 |
$41,063 |
-0.3% |
3.7% |
|
Hyundai-Kia |
$26,612 |
$26,918 |
$24,616 |
-1.1% |
8.1% |
|
Nissan North America (Nissan, INFINITI) |
$30,999 |
$30,828 |
$29,937 |
0.6% |
3.5% |
|
Subaru |
$30,179 |
$29,975 |
$30,018 |
0.7% |
0.5% |
|
Toyota Motor Company (Lexus, Toyota) |
$34,106 |
$33,974 |
$33,512 |
0.4% |
1.8% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$42,684 |
$44,430 |
$41,391 |
-3.9% |
3.1% |
|
Industry |
$38,259 |
$38,400 |
$37,195 |
-0.4% |
2.9% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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Among the top performers, Ford Motor Company was up nearly 6% in October 2019 with Ford and Lincoln brands both enjoying increases. The Nautilus had the best month for Lincoln, rising 5%, and the Aviator is having a solid impact, transacting in the high $60,000 range. The redesigned Explorer saw the most improvement, up 15%, while the refreshed Edge was up 4%.
Fiat Chrysler and General Motors also reported strong average transaction prices for October 2019, both up nearly 4% year-over-year.
|
Segment |
October 2019 Transaction Price (Avg.)* |
September 2019 Transaction Price (Avg.)* |
October 2018 Transaction Price (Avg.)* |
Percent Change September 2019 to October 2019* |
Percent Change October 2018 to October 2019* |
|
Compact Car |
$21,021 |
$20,977 |
$20,513 |
0.2% |
2.5% |
|
Compact SUV/Crossover |
$29,659 |
$29,539 |
$28,962 |
0.4% |
2.4% |
|
Electric Vehicle |
$53,664 |
$54,339 |
$63,264 |
-1.2% |
-15.2% |
|
Entry-level Luxury Car |
$42,123 |
$41,853 |
$42,682 |
0.6% |
-1.3% |
|
Full-size Car |
$34,980 |
$35,266 |
$35,045 |
-0.8% |
-0.2% |
|
Full-size Pickup Truck |
$51,036 |
$50,978 |
$49,467 |
0.1% |
3.2% |
|
Full-size SUV/Crossover |
$63,501 |
$63,145 |
$63,120 |
0.6% |
0.6% |
|
High Performance Car |
$116,936 |
$114,281 |
$113,581 |
2.3% |
3.0% |
|
High-end Luxury Car |
$98,158 |
$97,331 |
$99,224 |
0.8% |
-1.1% |
|
Hybrid/Alternative Energy Car |
$27,677 |
$27,212 |
$28,231 |
1.7% |
-2.0% |
|
Luxury Car |
$58,896 |
$59,196 |
$58,531 |
-0.5% |
0.6% |
|
Luxury Compact SUV/Crossover |
$46,165 |
$46,681 |
$47,235 |
-1.1% |
-2.3% |
|
Luxury Full-size SUV/Crossover |
$88,726 |
$88,804 |
$87,473 |
-0.1% |
1.4% |
|
Luxury Mid-size SUV/Crossover |
$59,094 |
$60,291 |
$56,286 |
-2.0% |
5.0% |
|
Luxury Subcompact SUV/Crossover |
$39,823 |
$39,517 |
$40,102 |
0.8% |
-0.7% |
|
Mid-size Car |
$27,968 |
$28,075 |
$26,713 |
-0.4% |
4.7% |
|
Mid-size Pickup Truck |
$35,744 |
$36,068 |
$33,732 |
-0.9% |
6.0% |
|
Mid-size SUV/Crossover |
$39,780 |
$39,652 |
$39,090 |
0.3% |
1.8% |
|
Minivan |
$35,196 |
$35,057 |
$35,380 |
0.4% |
-0.5% |
|
Sports Car |
$35,525 |
$36,323 |
$35,499 |
-2.2% |
0.1% |
|
Subcompact Car |
$16,954 |
$16,953 |
$16,382 |
0.0% |
3.5% |
|
Subcompact SUV/Crossover |
$24,952 |
$24,852 |
$24,675 |
0.4% |
1.1% |
|
Van |
$35,881 |
$36,176 |
$34,643 |
-0.8% |
3.6% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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