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New-Car Transaction Prices Jump 3% in August, KBB Reports

September 3, 2014

IRVINE, Calif. — The estimated average transaction price for light vehicles in the United States was $32,495 in August 2014, according to analysts from Kelley Blue Book. New-car prices have increased by $851 (up 2.7%) from August 2013, while dropping $16 (0.1%) from last month. 

“Similar to last month, trucks and full-size SUV/crossovers are driving average transaction price increases, as full-size truck transaction prices alone are up 5.5%,” said Alec Gutierrez, senior analyst for Kelley Blue Book. “Following several redesigns, full-size SUV/crossover segment sales could have double-digit growth and transaction prices have climbed more than 7% in August.  With a host of new models and gas prices trending downward, these will continue to be the hot vehicle segments.”

General Motors reports the greatest increases in average transaction prices among all major manufacturers on the strength of its Chevrolet and GMC SUV and truck lineups. The Chevrolet brand is up 6% with its Tahoe and Suburban models posting double-digit average transaction price jumps, while the GMC counterparts, Yukon and Yukon XL, are up more than 7%. 

“Due to strong Jeep and RAM sales, Chrysler Group also is up 4.2% from last year,” said Tim Fleming, analyst for Kelley Blue Book. “Transaction prices are up for all Chrysler brands, with RAM up 5.8% and Chrysler up 4.2%. The new Chrysler 200 is now selling for 10.4% higher than last year at $27,658.”

Manufacturer

August

2014 Transaction Price (Avg.)*

July

2014 Transaction Price (Avg.)*

August

2013 Transaction Price (Avg.)*

Percent Change July 2014 to August

2014*

Percent Change August

2013 to August

2014*

American Honda (Acura, Honda)

$26,831

$26,903

$26,870

-0.3%

-0.1%

Chrysler Group (Chrysler, Dodge, Fiat, Jeep, RAM)

$33,590

$33,468

$32,224

0.4%

4.2%

Ford Motor Company (Ford, Lincoln)

$35,042

$34,834

$34,528

0.6%

1.5%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$37,120

$37,422

$34,673

-0.8%

7.1%

Hyundai-Kia

$24,287

$24,126

$23,982

0.7%

1.3%

Nissan North America (Nissan, Infiniti)

$27,298

$26,986

$28,292

1.2%

-3.5%

Toyota Motor Company (Lexus, Scion, Toyota)

$30,019

$30,068

$29,526

-0.2%

1.7%

Volkswagen  Group (Audi, Volkswagen, Porsche)

$38,564

$39,140

$36,529

-1.5%

5.6%

Industry

$32,495

$32,511

$31,644

-0.1%

2.7%

*Kelley Blue Book Average Transaction Prices do not include applied consumer incentives

 

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