Friday, 09 June 2017 04:40

New-Car Transaction Prices Climb Nearly 2 Percent Year-Over-Year In April 2017

IRVINE, Calif., May 2, 2017 -- The analysts at Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,552 in April 2017. New-car prices have increased by $579 (up 1.7 percent) from April 2016, while falling $48 (down 0.1 percent) from last month.   

"While new vehicle sales appear to be on the decline, most manufacturers are seeing higher retail transaction prices, with the industry average on new-car prices up for the month by nearly 2 percent," said Tim Fleming, analyst for Kelley Blue Book. "These increases appear to be primarily driven by the shift in demand toward SUVs, even with growing segments, such as subcompact SUVs and luxury compact SUVs, seeing year-over-year price declines. Kelley Blue Book anticipates average transaction prices will likely begin to decrease when the sales mix of SUVs eventually levels off."

Fiat Chrysler was up more than 3 percent year-over-year in April 2017. The Chrysler brand saw an 11 percent increase, due to the new Pacifica minivan and lower sales of the 200 sedan.  Meanwhile, Jeep increased 5 percent thanks to a stronger mix of the Grand Cherokee as the smaller Compass SUV changes to a new generation. The RAM brand, however, was down 3 percent as full-size pickup truck prices continue to dip.

Conversely, General Motors average transaction prices fell nearly 1 percent, with only the Buick brand posting a year-over-year increase. The redesigned LaCrosse sedan, which was up 9 percent, and the all-new Envision SUV helped boost Buick's growth. The Chevrolet brand saw a 2 percent decline, with the Silverado down 4 percent from last year.

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