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New-Car Transaction Prices Climb More Than 1 Percent In April 2014


toyota corolla
2014 Toyota Corolla

Toyota Motor Company Shows Greatest Year-Over-Year Strength; Chrysler Group Rises on Increased Mix of Jeep, RAM Sales from 2013

IRVINE, CA--May 1, 2014: With the spring selling season underway, the expert analysts at Kelley Blue Book today report the estimated average transaction price for light vehicles in the United States was $32,141 in April 2014. New-car prices have increased by $389 (up 1.2 percent) from April 2013, while decreasing $47 (0.1 percent) from last month.

"Continuing their slow and steady increase, transaction prices are on the rise, but in conjunction with incentive spend, which forces them to offset one another," said Karl Brauer, senior analyst for Kelley Blue Book. "Aided by the new high-volume Corolla, Toyota is showing the greatest year-over-year gains, up 4 percent from this time last year. The Highlander is another strong performer, up 6.1 percent from 2013, in addition to the strength of the Tacoma and redesigned Tundra."

Manufacturer

April

2014

Transaction

Price (Avg.)*

 

March

2014

Transaction

Price (Avg.)*

 

April

 2013

Transaction

Price (Avg.)*

 

Percent

Change

March

2014 to

April

2014*

Percent

Change

April

2013 to

April

2014*

American Honda (Acura, Honda)

$27,384

$27,406

$27,221

-0.1%

0.6%

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

$32,782

$32,778

$31,641

0.0%

3.6%

Ford Motor Company (Ford, Lincoln)

$33,850

$34,021

$33,769

-0.5%

0.2%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$34,249

$34,312

$33,594

-0.2%

2.0%

Hyundai-Kia

$24,066

$24,055

$23,523

0.0%

2.3%

Nissan North America (Nissan, Infiniti)

$27,558

$27,337

$28,874

0.8%

-4.6%

Toyota Motor Company (Lexus, Scion, Toyota)

$30,543

$30,621

$29,372

-0.3%

4.0%

Volkswagen  Group (Audi, Volkswagen, Porsche)

$38,064

$39,062

$38,339

-2.6%

-0.7%

Industry

$32,141

$32,188

$31,752

-0.1%

1.2%

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

"Among the domestic manufacturers, Chrysler's gains are due to an increased mix of Jeep and RAM sales from last year," said Alec Gutierrez, senior analyst for Kelley Blue Book. "This month's transaction prices increased for all Chrysler brands except Jeep, which was down due to a lower mix of the Grand Cherokee, on the introduction of the hot-selling Cherokee."

New GM truck models continue to demand higher prices, as the Silverado and Sierra climbed more than 6 percent each. Cadillac is the only GM brand on the decline, which is driven by its ATS and XTS models. In addition, the mix of Escalade sales is down as they prepare to launch the redesigned 2015 model, which is bringing down Cadillac's overall average transaction price.