Average New-Car Prices Up 3% Year-Over-Year for June 2019, According to Kelley Blue Book

IRVINE, Calif., July 2, 2019 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,285 in June 2019. New-vehicle prices increased $1,131 (up 3.1%) from June 2018, while decreasing $67 (down 0.2%) from last month.   

"Transaction price growth accelerated in June, climbing 3% as demand for trucks and SUVs pushed sales and prices up in those segments. Light trucks and SUVs are expected to account for about 71% of sales in June, up from 68% a year ago.," said Tim Fleming, analyst for Kelley Blue Book. "Overall, SUV prices were up 4% and trucks rose 3%, while car prices were flat (and still lost market share). Luxury and mainstream mid-size SUVs are showing the most strength right now, with brand new models such as the BMW X7 and Kia Telluride driving incremental sales and price growth for their brands."

Fiat Chrysler had another strong month, posting nearly a 7% increase, thanks to RAM and Jeep. The new Jeep Gladiator pickup transacted in the mid-$50,000 range as the sales mix skewed heavily toward the high-end Rubicon trim, and in addition, the Gladiator beat the next closest mid-size truck by nearly $18,000. Ford Motor Company's average prices were up 4% in June, with Ford rising 4% and Lincoln up 3%. At Ford, the refreshed Edge had a 5% gain, while the Mustang GT helped push the Mustang's average up 7%. At Lincoln, the Nautilus was clearly the best performer, growing its ATPs by 6%, but the refreshed MKC also had a good month as its prices rose 4%.

Hyundai Kia prices rose 3% in June, with Kia having the biggest increase. Kia had help from several models, including the redesigned Forte and Soul, as well as the new Niro EV and Telluride. Hyundai's best performer was the Veloster, although the Kona EV also provided a lift. The Genesis brand fell by 12% following the introduction of the G70 sedan as the new entry point and volume leader in its lineup; however, Genesis' sales volume should increase substantially over last year.

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue Book^SM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader^®, Clutch Technologies, Dealer.com^®, Dealertrack^®, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, VinSolutions^®, vAuto^® and Xtime^®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. coxautoinc.com

SOURCE Kelley Blue Book

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