Kelley Blue Book: Average New-Car Prices Rise Nearly 2% Year-Over-Year, Set New Record High
Monday, December 4th, 2017
The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,870 in November 2017. New-car prices have increased by $554 (up 1.6 percent) from November 2016, while climbing $83 (up 0.2 percent) from last month.
"Transaction prices reached a new record high in November 2017," said Tim Fleming, analyst for Kelley Blue Book. "Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34 percent and is trending downward. Kelley Blue Book continues to see much of the consumer demand geared toward small SUVs, which saw prices rise by 3 percent, in addition to strong sales growth. This segment features many recent redesigns, and shows no signs of weakness despite the overall down market for new vehicles."
|
Manufacturer |
November 2017 Transaction Price (Avg.)* |
October 2017 Transaction Price (Avg.)* |
November 2016 Transaction Price (Avg.)* |
Percent Change October 2017 to November 2017* |
Percent Change November 2016 to November 2017* |
|
American Honda (Acura, Honda) |
$28,011 |
$28,032 |
$27,592 |
-0.1% |
1.5% |
|
FiatChrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$37,790 |
$38,022 |
$36,506 |
-0.6% |
3.5% |
|
Ford Motor Company (Ford, Lincoln) |
$40,423 |
$39,939 |
$39,312 |
1.2% |
2.8% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$39,997 |
$40,242 |
$40,133 |
-0.6% |
-0.3% |
|
Hyundai-Kia |
$25,210 |
$25,096 |
$24,745 |
0.5% |
1.9% |
|
Nissan North America (Nissan, Infiniti) |
$29,177 |
$29,045 |
$29,652 |
0.5% |
-1.6% |
|
Subaru |
$29,070 |
$28,904 |
$29,058 |
0.6% |
0.0% |
|
Toyota Motor Company (Lexus, Toyota) |
$32,973 |
$32,526 |
$32,318 |
1.4% |
2.0% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$41,790 |
$41,818 |
$39,424 |
-0.1% |
6.0% |
|
Industry |
$35,870 |
$35,787 |
$35,316 |
0.2% |
1.6% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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Ford Motor Company saw solid transaction price growth of nearly 3 percent in November 2017, helped by a strong mix of F-Series Super Duty sales this month. The Mustang also had a good month, with prices rising 3 percent. Lincoln declined 1 percent; however, the next-generation Navigator is now reaching dealerships and may provide a large lift for the brand.
Meanwhile, Toyota Motor Company's transaction prices climbed two percent. The redesigned Camry increased 10 percent, while Toyota's top seller, the RAV4, saw gains of 6 percent on a strong sales mix of the RAV4 Hybrid, which helped the Toyota brand improve by 3 percent.
|
Segment |
November 2017 Transaction Price (Avg.)* |
October 2017 Transaction Price (Avg.)* |
November 2016 Transaction Price (Avg.)* |
Percent Change October 2017 to November 2017* |
Percent Change November 2016 to November 2017* |
|
Compact Car |
$20,291 |
$20,310 |
$20,365 |
-0.1% |
-0.4% |
|
Compact SUV/Crossover |
$28,990 |
$28,811 |
$28,092 |
0.6% |
3.2% |
|
Electric Vehicle |
$39,447 |
$39,160 |
$39,688 |
0.7% |
-0.6% |
|
Entry-Level Luxury Car |
$42,223 |
$42,500 |
$41,851 |
-0.7% |
0.9% |
|
Full-Size Car |
$34,494 |
$34,178 |
$33,980 |
0.9% |
1.5% |
|
Full-Size Pickup Truck |
$47,393 |
$47,409 |
$46,990 |
0.0% |
0.9% |
|
Full-Size SUV/Crossover |
$60,487 |
$60,967 |
$60,915 |
-0.8% |
-0.7% |
|
High Performance Car |
$97,648 |
$96,872 |
$97,452 |
0.8% |
0.2% |
|
High-End Luxury Car |
$96,882 |
$96,972 |
$93,790 |
-0.1% |
3.3% |
|
Hybrid/Alternative Energy Car |
$25,851 |
$26,009 |
$25,550 |
-0.6% |
1.2% |
|
Luxury Car |
$57,339 |
$57,368 |
$56,684 |
-0.1% |
1.2% |
|
Luxury Compact SUV/Crossover |
$44,493 |
$44,471 |
$44,104 |
0.0% |
0.9% |
|
Luxury Full-Size SUV/Crossover |
$82,766 |
$82,936 |
$82,869 |
-0.2% |
-0.1% |
|
Luxury Mid-Size SUV/Crossover |
$55,478 |
$55,835 |
$55,432 |
-0.6% |
0.1% |
|
Mid-Size Car |
$25,510 |
$25,372 |
$25,210 |
0.5% |
1.2% |
|
Mid-Size Pickup Truck |
$32,601 |
$32,325 |
$32,916 |
0.9% |
-1.0% |
|
Mid-Size SUV/Crossover |
$37,924 |
$37,896 |
$37,400 |
0.1% |
1.4% |
|
Minivan |
$35,621 |
$36,122 |
$34,082 |
-1.4% |
4.5% |
|
Sports Car |
$30,327 |
$30,524 |
$30,613 |
-0.6% |
-0.9% |
|
Subcompact Car |
$16,311 |
$16,146 |
$16,569 |
1.0% |
-1.6% |
|
Subcompact SUV/Crossover |
$24,378 |
$24,426 |
$24,457 |
-0.2% |
-0.3% |
|
Van |
$35,391 |
$35,215 |
$35,376 |
0.5% |
0.0% |
|
Grand Total |
$35,870 |
$35,787 |
$35,316 |
0.2% |
1.6% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives |
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