Average New-Car Prices Up 3% Year Over Year for July 2019 on Strong Truck Sales, According to Kelley Blue Book
IRVINE, Calif., Aug. 1, 2019 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,169 in July 2019. New-vehicle prices increased $1,246 (up 3.5%) from July 2018, while decreasing $312 (down 0.8%) from last month.
"While July is expected to come in below a 17-million SAAR pace, the industry average transaction price continued its steady rise, up 3% year over year," said Tim Fleming, analyst for Kelley Blue Book. "Trucks were the big story in July as new mid-size and full-size offerings helped to drive truck prices up about 3% while contributing to sales growth in this down market. With the new 1500 trucks from RAM and GM that came out last year, full-size truck prices have now eclipsed the $50,000 mark, and new heavy-duty trucks from these manufacturers this year will push those numbers up even more."
Manufacturer | July 2019 Transaction Price (Avg.)* | June 2019 Transaction Price (Avg.)* | July 2018 Transaction Price (Avg.)* | % Change June 2019 to July 2019* | % Change July 2018 to July 2019* |
American Honda (Acura, Honda) | $28,693 | $28,738 | $28,853 | -0.2% | -0.6% |
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $40,632 | $41,300 | $38,236 | -1.6% | 6.3% |
Ford Motor Company (Ford, Lincoln) | $41,108 | $41,008 | $40,425 | 0.2% | 1.7% |
General Motors (Buick, Cadillac, Chevrolet, GMC) | $41,668 | $42,079 | $40,335 | -1.0% | 3.3% |
$25,722 | $25,830 | $24,984 | -0.4% | 3.0% | |
Nissan North America (Nissan, INFINITI) | $29,047 | $28,970 | $29,356 | 0.3% | -1.1% |
$29,771 | $29,870 | $28,972 | -0.3% | 2.8% | |
Toyota Motor Company (Lexus, Toyota) | $33,224 | $33,359 | $32,771 | -0.4% | 1.4% |
Volkswagen Group (Audi, Volkswagen, Porsche) | $43,257 | $44,085 | $40,670 | -1.9% | 6.4% |
Industry | $37,169 | $37,481 | $35,923 | -0.8% | 3.5% |
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
American Honda was down slightly in July, as Acura prices fell 2% while Honda stayed flat. Most Acura models saw declines for the month, while Honda was brought down by the Accord sedan, which fell 1%. The refreshed HR-V had a good month as it climbed 4%.
General Motors was up 3% for the month, as the Chevrolet brand saw the biggest gain at 4%. Chevrolet was helped by a very strong mix of trucks and SUVs, which should amount to more than an 80% sales mix in July. GMC also saw a slight increase in July, largely due to the Sierra and its 3% gain.
Volkswagen Group's transaction prices rose by 6%, with Audi up an impressive 13% from last year. Audi was buoyed by its redesigned A6 and A8 sedans, as well as the recently debuted Q8 and e-tron SUVs. The Volkswagen brand climbed 2%, helped by the Tiguan (up 5%) and the Jetta (up 3%), as well as a sales mix more geared toward SUVs.
Segment | July 2019 Transaction Price (Avg.)* | June 2019 Transaction Price (Avg.)* | July 2018 Transaction Price (Avg.)* | % Change June 2019 to July 2019* | % Change July 2018 to July 2019* | |
Compact Car | $20,525 | $20,803 | $20,424 | -1.3% | 0.5% | |
Compact SUV/Crossover | $29,316 | $29,288 | $28,432 | 0.1% | 3.1% | |
Electric Vehicle | $54,391 | $54,276 | $59,046 | 0.2% | -7.9% | |
Entry-level Luxury Car | $42,366 | $43,108 | $42,418 | -1.7% | -0.1% | |
Full-size Car | $35,177 | $35,112 | $34,905 | 0.2% | 0.8% | |
Full-size Pickup Truck | $50,063 | $50,473 | $48,686 | -0.8% | 2.8% | |
Full-Size SUV/Crossover | $62,210 | $62,847 | $61,473 | -1.0% | 1.2% | |
High Performance Car | $102,146 | $103,022 | $101,841 | -0.9% | 0.3% | |
High-end Luxury Car | $101,458 | $99,742 | $96,923 | 1.7% | 4.7% | |
Hybrid/Alternative Energy Car | $26,997 | $26,852 | $27,214 | 0.5% | -0.8% | |
Luxury Car | $58,719 | $59,395 | $58,593 | -1.1% | 0.2% | |
Luxury Compact SUV/Crossover | $45,759 | $46,042 | $45,556 | -0.6% | 0.4% | |
Luxury Full-size SUV/Crossover | $87,621 | $87,539 | $88,306 | 0.1% | -0.8% | |
Luxury Mid-size SUV/Crossover | $58,902 | $59,664 | $55,681 | -1.3% | 5.8% | |
Mid-size Car | $25,715 | $25,742 | $25,481 | -0.1% | 0.9% | |
Mid-size Pickup Truck | $34,894 | $35,365 | $33,687 | -1.3% | 3.6% | |
Mid-size SUV/Crossover | $38,417 | $38,397 | $37,911 | 0.1% | 1.3% | |
Minivan | $35,375 | $35,210 | $35,304 | 0.5% | 0.2% | |
Sports Car | $36,717 | $36,817 | $35,837 | -0.3% | 2.5% | |
Subcompact Car | $16,445 | $16,457 | $16,514 | -0.1% | -0.4% | |
Subcompact SUV/Crossover | $23,934 | $23,905 | $24,103 | 0.1% | -0.7% | |
Van | $34,447 | $34,184 | $35,048 | 0.8% | -1.7% | |
Grand Total | $37,169 | $37,481 | $35,923 | -0.8% | 3.5% | |
*Kelley Blue Book average transaction prices do not include applied consumer incentives. | ||||||
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