Average New-Car Prices Jump 2% for March 2018 on SUV Sales Strength, According to Kelley Blue Book
Thursday, April 5th, 2018
The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,285 in March 2018. New-vehicle prices have increased by $703 (up 2 percent) from March 2017, while falling $23 (down 0.1 percent) from last month.
"Most automaker transaction prices increased in March 2018 as the industry average rose 2 percent," said Tim Fleming, analyst for Kelley Blue Book. "Average transaction price growth was headlined by SUVs, particularly in the mid-size and full-size segments. Although fuel prices were up last month, SUV sales remain strong and new models like the Chevrolet Traverse and Lincoln Navigator helped elevate their respective segments."
|
Manufacturer |
March 2018 |
February 2018 Transaction |
March 2017 |
Percent |
Percent 2017 to |
|
American Honda (Acura, Honda) |
$28,470 |
$28,573 |
$27,750 |
-0.4% |
2.6% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$36,508 |
$36,524 |
$36,936 |
0.0% |
-1.2% |
|
Ford Motor Company (Ford, Lincoln) |
$37,794 |
$37,760 |
$37,533 |
0.1% |
0.7% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$40,037 |
$39,805 |
$38,518 |
0.6% |
3.9% |
|
$25,279 |
$25,500 |
$24,943 |
-0.9% |
1.3% |
|
|
Nissan North America (Nissan, Infiniti) |
$29,438 |
$29,450 |
$29,516 |
0.0% |
-0.3% |
|
$28,532 |
$28,746 |
$28,541 |
-0.7% |
0.0% |
|
|
Toyota Motor Company (Lexus, Toyota) |
$32,168 |
$32,236 |
$31,493 |
-0.2% |
2.1% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$41,568 |
$41,532 |
$38,822 |
0.1% |
7.1% |
|
Industry |
$35,285 |
$35,308 |
$34,582 |
-0.1% |
2.0% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
General Motors was up 4 percent year-over-year, with Chevrolet rising the most at 5 percent. Chevrolet's jump is based on a strong mix of Silverado sales, and also the redesigned Traverse posted a 10 percent increase. Similarly, the redesigned Buick Enclave rose 6 percent. Buick also climbed 3 percent with help from the new Regal Sportback and Regal TourX, up 6 percent from the previous generation Regal.
On the other hand, Fiat Chrysler's average transaction prices fell 1 percent in March 2018, with Dodge reporting the strongest month with 2 percent improvement. The RAM brand fell 3 percent due to the sell down of the 2018 RAM pickup, while the next generation of RAM trucks is just now reaching dealerships. Jeep was flat, but the new Wrangler JL is gaining momentum and helped the Wrangler's pricing grow 4 percent.
|
Segment |
March 2018 |
February 2018 |
March |
Percent |
Percent |
|
Transaction Price (Avg.)* |
Transaction Price (Avg.)* |
Price (Avg.)* |
2018 to March 2018* |
2017 to March 2018* |
|
|
Compact Car |
$20,444 |
$20,413 |
$20,611 |
0.2% |
-0.8% |
|
Compact SUV/Crossover |
$28,633 |
$28,734 |
$28,184 |
-0.4% |
1.6% |
|
Electric Vehicle |
$38,139 |
$37,915 |
$37,670 |
0.6% |
1.2% |
|
Entry-level Luxury Car |
$41,834 |
$41,416 |
$41,831 |
1.0% |
0.0% |
|
Full-size Car |
$34,511 |
$34,484 |
$34,561 |
0.1% |
-0.1% |
|
Full-size Pickup Truck |
$47,069 |
$46,732 |
$47,000 |
0.7% |
0.1% |
|
Full-size SUV/Crossover |
$62,437 |
$62,233 |
$60,437 |
0.3% |
3.3% |
|
High Performance Car |
$96,860 |
$98,518 |
$92,114 |
-1.7% |
5.2% |
|
High-end Luxury Car |
$96,872 |
$98,613 |
$96,773 |
-1.8% |
0.1% |
|
Hybrid/Alternative Energy Car |
$25,850 |
$25,777 |
$25,626 |
0.3% |
0.9% |
|
Luxury Car |
$58,735 |
$58,827 |
$57,195 |
-0.2% |
2.7% |
|
Luxury Compact SUV/Crossover |
$44,497 |
$44,456 |
$43,307 |
0.1% |
2.7% |
|
Luxury Full-size SUV/Crossover |
$87,734 |
$86,979 |
$82,551 |
0.9% |
6.3% |
|
Luxury Mid-size SUV/Crossover |
$56,406 |
$56,284 |
$55,260 |
0.2% |
2.1% |
|
Mid-size Car |
$25,776 |
$25,839 |
$25,063 |
-0.2% |
2.8% |
|
Mid-size Pickup Truck |
$32,691 |
$32,723 |
$32,225 |
-0.1% |
1.4% |
|
Mid-size SUV/Crossover |
$38,541 |
$38,530 |
$37,447 |
0.0% |
2.9% |
|
Minivan |
$33,685 |
$33,955 |
$33,202 |
-0.8% |
1.5% |
|
Sports Car |
$31,338 |
$30,983 |
$31,459 |
1.1% |
-0.4% |
|
Subcompact Car |
$16,346 |
$16,276 |
$16,399 |
0.4% |
-0.3% |
|
Subcompact SUV/Crossover |
$24,384 |
$24,310 |
$24,342 |
0.3% |
0.2% |
|
Van |
$35,345 |
$34,920 |
$34,941 |
1.2% |
1.2% |
|
Grand Total |
$35,285 |
$35,308 |
$34,582 |
-0.1% |
2.0% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
