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KBB: Average New-Car Price Jumps 2% in March

April 3, 2018

IRVINE, Calif. — The estimated average transaction price (ATP) for light vehicles in March was $35,285, a $703 increase from March 2017 but a $23 decrease from February, Kelley Blue Book said this week.

The 2% year-over-year increase in the ATP was headlined by SUVs, particularly in the mid-size and full-size segments, the firm noted. “Although fuel prices were up last month, SUV sales remain strong and new models like the Chevrolet Traverse and Lincoln Navigator helped elevate their respective segments,” said Kelley Blue Book analyst Tim Fleming.

General Motors realized a 4% year-over-year increase in its average transaction price, with Chevrolet leading the way with a 5% increase in its ATP. The jump was also due to a strong mix of Silverado sales, as well as the 10% year-over-year increase in the redesigned Traverse’s ATP.

Buick also realized a 3% increase in its ATP, which was helped by the 6% ATP increase realized by the Enclave as well as the Regal Sportback and Regal TourX.

Conversely, Fiat Chrysler’s average transaction price in March fell 1% from a year ago. Dodge, however, reported a 2% increase in its March ATP, while RAM’s ATP fell 3% due to the selldown of the 2018 RAM pickup. Jeep was flat, but the new Wrangler JL is gaining momentum and helped Wrangler’s ATP grow 4%.

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