IRVINE, Calif. — Transaction prices continue to climb in May, with the average climbing $847 from a year ago to $33,261. The increase was the weakening sales mix of cars, which fell from 41% in the year-ago period to 38%, Kelley Blue Book reported today.
“Compact SUVs, the most popular segment in terms of sales, saw an increase of 2% year over year and clearly remain in very high demand,” noted Kelley Blue Book analyst Tim Fleming. “There are signs, however, of discounts in SUV segments that are growing quickly, including subcompact and luxury SUVs, which are likely helping to fuel those segments’ double-digit sales growth this year.”
Ford Motor Co.’s 5% increase in its average transaction prices was boosted by its F-Series’ 3% increase. The refreshed Fusion also saw one of the strongest gains in the weakening mid-size car segment at 3%. Meanwhile, the Lincoln brand was flat, although the MKC crossover fell 4%.
Volkswagen Group’s average transaction prices grew nearly 4%, as the Volkswagen brand climbed 5% due, in part, to the resumed sale of model-year 2015 diesel vehicles. The Audi brand was flat, though the redesigned A4 all-road soared 9%.