New-Cars More Expensive - May 2016 Transaction Prices Jump More Than 3 Percent
IRVINE, Calif., June 1, 2016 -- The analysts at Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $33,845 in May 2016. New-car prices have increased by $1,139 (up 3.5 percent) from May 2015, while decreasing $116 (down 0.3 percent) from last month.
"Continuously growing demand for SUVs and trucks helped push overall average transaction prices up this month," said Tim Fleming, analyst for Kelley Blue Book. "The overall share of light trucks in May 2016 should be around 60 percent, up from 55 percent in May 2015. The Detroit automakers are benefitting most from this trend, as their transaction prices are up between 4-6 percent. Manufacturers focusing on car-heavy lineups are still seeing year-over-year strength, but at a much more modest level."
*Kelley Blue Book Average Transaction Prices do not include applied consumer incentives
Among all major automakers, Fiat Chrysler had the largest increase in transaction prices at 4.8 percent year-over-year. The Dodge brand increased 4 percent on its large cars, the Charger (up 5 percent) and Challenger (up 8 percent), while RAM grew 5 percent on a larger mix of the pricier crew cab configuration for its pickup truck.
General Motors' transaction prices rose a healthy 4.6 percent in April 2016, with all brands moving upward except Buick, which was flat. The all-new Chevrolet Camaro had the biggest increase at 10 percent, while the Silverado gained 6 percent on a strong mix of crew cab sales. These helped push the Chevrolet brand up 6 percent at $35,943.
Lastly, Ford Motor Company jumped 2.1 percent, thanks to strong numbers from the Explorer, which was up 5 percent. Ford's biggest seller, the F-Series, was up 1.5 percent. Lincoln also had a good month, as pricing increased 5 percent to $46,901, with the biggest increase coming from the MKX at 9 percent.
|
Segment
|
April 2016 Transaction Price (Avg.)* |
March 2016 Transaction Price (Avg.)* |
April 2015 Transaction Price (Avg.)* |
Percent Change March 2016 to April 2016* |
Percent Change April 2015 to April 2016* |
|
Compact Car |
$20,157 |
$20,297 |
$20,415 |
-0.7% |
-1.3% |
|
Compact SUV/Crossover |
$27,706 |
$27,558 |
$27,164 |
0.5% |
2.0% |
|
Electric Vehicle |
$39,203 |
$38,770 |
$39,748 |
1.1% |
-1.4% |
|
Entry-level Luxury Car |
$40,753 |
$40,641 |
$40,922 |
0.3% |
-0.4% |
|
Full-size Car |
$34,163 |
$34,326 |
$33,448 |
-0.5% |
2.1% |
|
Full-size Pickup Truck |
$46,584 |
$46,447 |
$44,807 |
0.3% |
4.0% |
|
Full-size SUV/Crossover |
$59,661 |
$59,416 |
$59,059 |
0.4% |
1.0% |
|
High Performance Car |
$92,571 |
$93,144 |
$91,836 |
-0.6% |
0.8% |
|
High-end Luxury Car |
$91,606 |
$92,977 |
$91,729 |
-1.5% |
-0.1% |
|
Hybrid/Alternative Energy Car |
$26,179 |
$26,506 |
$25,172 |
-1.2% |
4.0% |
|
Luxury Car |
$56,298 |
$56,951 |
$56,151 |
-1.1% |
0.3% |
|
Luxury Compact SUV/Crossover |
$41,184 |
$41,173 |
$41,533 |
0.0% |
-0.8% |
|
Luxury Full-size SUV/Crossover |
$85,120 |
$84,358 |
$84,880 |
0.9% |
0.3% |
|
Luxury Mid-size SUV/Crossover |
$56,550 |
$55,975 |
$54,633 |
1.0% |
3.5% |
|
Mid-size Car |
$25,058 |
$25,073 |
$25,073 |
-0.1% |
-0.1% |
|
Mid-size Pickup Truck |
$31,573 |
$31,524 |
$29,586 |
0.2% |
6.7% |
|
Mid-size SUV/Crossover |
$36,872 |
$36,906 |
$35,925 |
-0.1% |
2.6% |
|
Minivan |
$32,558 |
$32,431 |
$32,322 |
0.4% |
0.7% |
|
Sports Car |
$34,938 |
$34,689 |
$33,459 |
0.7% |
4.4% |
|
Subcompact Car |
$15,292 |
$15,239 |
$15,497 |
0.3% |
-1.3% |
|
Subcompact SUV/Crossover |
$24,970 |
$24,875 |
$25,054 |
0.4% |
-0.3% |
|
Van |
$32,189 |
$33,323 |
$31,883 |
-3.4% |
1.0% |
|
Grand Total |
$33,865 |
$33,791 |
$33,245 |
0.2% |
1.9% |
|
*Kelley Blue Book Average Transaction Prices do not include applied consumer incentives | |||||
"April 2016 continues to show steady improvement in average transaction prices for nearly all manufacturers, with particularly strong numbers for the Detroit automakers," said Tim Fleming, analyst for Kelley Blue Book. "Even though gas prices rose slightly in April, truck segments saw the largest year-over-year increases, with mid-size trucks climbing nearly 7 percent on average. This segment is on the rise, as consumers who don't need a full-size truck are finding they can still get many amenities and plenty of utility from the new mid-size trucks now available."
|
Manufacturer
|
April 2016 Transaction Price (Avg.)* |
March 2016 Transaction Price (Avg.)* |
April 2015 Transaction Price (Avg.)* |
Percent Change March 2016 to April 2016* |
Percent Change April 2015 to April 2016* |
|
American Honda (Acura, Honda) |
$27,399 |
$27,311 |
$26,924 |
0.3% |
1.8% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$35,032 |
$34,985 |
$33,434 |
0.1% |
4.8% |
|
Ford Motor Company (Ford, Lincoln) |
$36,541 |
$36,720 |
$35,792 |
-0.5% |
2.1% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$38,768 |
$38,876 |
$37,058 |
-0.3% |
4.6% |
|
$24,582 |
$24,547 |
$24,514 |
0.1% |
0.3% | |
|
Nissan North America (Nissan, Infiniti) |
$27,351 |
$27,407 |
$27,304 |
-0.2% |
0.2% |
|
$28,232 |
$28,154 |
$27,769 |
0.3% |
1.7% | |
|
Toyota Motor Company (Lexus, Scion, Toyota) |
$31,247 |
$31,297 |
$30,146 |
-0.2% |
3.7% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$39,584 |
$39,239 |
$39,975 |
0.9% |
-1.0% |
|
Industry |
$33,865 |
$33,791 |
$33,245 |
0.2% |
1.9% |
