KBB: Average New-Car Prices Relatively Flat
Thursday, October 12th, 2017
The analysts at Kelley Blue Book reported the estimated average transaction price for light vehicles in the United States was $34,861 in September 2017. New-car prices have increased by $144 (up 0.4 percent) from September 2016, while remaining flat from last month.
"Transaction prices were up very slightly in September, reflecting the industry's trend of slowing demand for new vehicles," said Tim Fleming, analyst for Kelley Blue Book. "Despite pullbacks in vehicle production this year, incentives are still rising and averaging nearly 11 percent of transaction prices. In addition, with average prices nearly $35,000, we expect new-car affordability to continue to be a challenge, especially as more consumers stretch their loan terms out to 84 months to keep payments down."
|
Manufacturer |
September 2017 Transaction Price (Avg.)* |
August 2017 Transaction Price (Avg.)* |
September 2016 Transaction Price (Avg.)* |
Percent Change August 2017 to September 2017* |
Percent Change September 2016 to September 2017* |
|
American Honda (Acura, Honda) |
$27,580 |
$27,447 |
$27,561 |
0.5% |
0.1% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$37,088 |
$37,219 |
$36,340 |
-0.4% |
2.1% |
|
Ford Motor Company (Ford, Lincoln) |
$38,919 |
$38,992 |
$38,680 |
-0.2% |
0.6% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$38,851 |
$38,785 |
$40,083 |
0.2% |
-3.1% |
|
Hyundai-Kia |
$25,007 |
$24,976 |
$24,512 |
0.1% |
2.0% |
|
Nissan North America (Nissan, Infiniti) |
$29,566 |
$29,809 |
$28,973 |
-0.8% |
2.0% |
|
Subaru |
$29,019 |
$28,650 |
$28,539 |
1.3% |
1.7% |
|
Toyota Motor Company (Lexus, Toyota) |
$31,793 |
$31,710 |
$31,439 |
0.3% |
1.1% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$39,401 |
$39,369 |
$39,333 |
0.1% |
0.2% |
|
Industry |
$34,861 |
$34,866 |
$34,717 |
0.0% |
0.4% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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General Motors is the only major manufacturer declining year-over-year, down 3 percent. The only brand to see increases for General Motors was Buick. Buick's average climbed 4 percent, due in large part to the discontinuation of the Verano, but the refreshed Encore was up 2 percent. Chevrolet fell 3 percent, with the redesigned Equinox having the best month, increasing 3 percent. Chevrolet's top-seller, the Silverado, was down 3 percent.
American Honda's transaction prices were flat in September with the Honda brand up 1 percent and Acura down 3 percent. Honda's best performer was the redesigned Odyssey minivan, which transacted 16 percent higher. The redesigned CR-V continues to impress as well, up 6 percent, while its smaller sibling, the HR-V, was down 2 percent. The refreshed TLX has the best month for Acura, climbing 6 percent, while all other models were down.
|
Segment |
September 2017 |
August 2017 |
September 2016 |
Percent 2017 to |
Percent 2016 to 2017* |
|
Compact Car |
$20,328 |
$20,361 |
$20,165 |
-0.2% |
0.8% |
|
Compact SUV/Crossover |
$28,586 |
$28,542 |
$28,043 |
0.2% |
1.9% |
|
Electric Vehicle |
$37,882 |
$37,633 |
$39,031 |
0.7% |
-2.9% |
|
Entry-Level Luxury Car |
$42,139 |
$42,074 |
$41,345 |
0.2% |
1.9% |
|
Full-Size Car |
$33,844 |
$34,107 |
$34,371 |
-0.8% |
-1.5% |
|
Full-Size Pickup Truck |
$47,283 |
$47,398 |
$47,257 |
-0.2% |
0.1% |
|
Full-Size SUV/Crossover |
$60,537 |
$60,521 |
$61,270 |
0.0% |
-1.2% |
|
High Performance Car |
$92,398 |
$97,234 |
$88,164 |
-5.0% |
4.8% |
|
High-End Luxury Car |
$94,610 |
$94,308 |
$93,482 |
0.3% |
1.2% |
|
Hybrid/Alternative Energy Car |
$26,014 |
$25,980 |
$25,880 |
0.1% |
0.5% |
|
Luxury Car |
$57,196 |
$56,748 |
$57,473 |
0.8% |
-0.5% |
|
Luxury Compact SUV/Crossover |
$43,796 |
$43,414 |
$43,858 |
0.9% |
-0.1% |
|
Luxury Full-Size SUV/Crossover |
$83,758 |
$84,010 |
$83,086 |
-0.3% |
0.8% |
|
Luxury Mid-Size SUV/Crossover |
$54,320 |
$54,082 |
$54,973 |
0.4% |
-1.2% |
|
Mid-Size Car |
$25,158 |
$24,914 |
$25,275 |
1.0% |
-0.5% |
|
Mid-Size Pickup Truck |
$32,520 |
$32,683 |
$32,750 |
-0.5% |
-0.7% |
|
Mid-Size SUV/Crossover |
$37,546 |
$37,617 |
$37,106 |
-0.2% |
1.2% |
|
Minivan |
$34,040 |
$33,346 |
$33,875 |
2.1% |
0.5% |
|
Sports Car |
$30,465 |
$30,900 |
$31,268 |
-1.4% |
-2.6% |
|
Subcompact Car |
$16,143 |
$16,391 |
$16,493 |
-1.5% |
-2.1% |
|
Subcompact SUV/Crossover |
$24,319 |
$24,237 |
$24,340 |
0.3% |
-0.1% |
|
Van |
$35,203 |
$35,155 |
$35,363 |
0.1% |
-0.5% |
|
Grand Total |
$34,861 |
$34,866 |
$34,717 |
0.0% |
0.4% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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