Average New-Vehicle Prices Rise 2.5% Year-Over-Year in September 2020, According to Kelley Blue Book

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Oct 01, 2020, 09:02 ET

IRVINE, Calif., Oct. 1, 2020 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,723 in September 2020. New-vehicle prices increased $940 (up 2.5%) from September 2019, while raising $23 (up 0.1%) from last month.

"New-car transaction prices have climbed year-over-year, but remained flat for the past few months," said Sara Richards, an analyst for Kelley Blue Book. "This may indicate supply challenges experienced over spring and summer have been corrected and OEMs are finally able to build up stock. If automakers seek to recover sales lost earlier in the year, incentives could climb dramatically, and transaction prices could remain flat or even dip in the future."

Manufacturer	September 2020 Transaction Price (Avg.*	August 2020 Transaction Price (Avg.)*	September 2019 Transaction Price (Avg.)*	Percent Change August 2020 to September 2020*	Percent Change September 2019 to September 2020*
American Honda (Acura, Honda)	$30,025	$29,987	$28,696	0.1%	4.6%
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)	$42,787	$42,869	$39,937	-0.2%	7.1%
Ford Motor Company (Ford, Lincoln)	$44,644	$44,378	$42,469	0.6%	5.1%
General Motors (Buick, Cadillac, Chevrolet, GMC)	$43,144	$42,325	$42,896	1.9%	0.6%
Hyundai Kia	$28,957	$28,692	$26,932	0.9%	7.5%
Nissan North America (Nissan, INFINITI)	$30,300	$30,866	$29,898	-1.8%	1.3%
Subaru	$31,171	$31,030	$29,712	0.5%	4.9%
Toyota Motor Company (Lexus, Toyota)	$36,970	$36,817	$33,899	0.4%	9.1%
Volkswagen Group (Audi, Volkswagen, Porsche)	$42,077	$42,704	$44,852	-1.5%	-6.2%
Industry	$38,723	$38,700	$37,783	0.1%	2.5%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

Honda, Fiat Chrysler, Ford, Hyundai and Kia, Subaru, and Toyota all reported strong, greater than 4% year-over-year gains, despite relatively little change month-over-month. Specifically, for Toyota the RAV4 was the biggest driver. They had a significant redesign this past year, contributing to an 18% lift in transaction prices year-over-year. Non-luxury and luxury vehicles are relatively flat month-over-month; however, the year-over-year story is completely different. Non-luxury transaction prices are up 3.9%, while luxury prices are down 3%.

Segment	September 2020 Transaction Price (Avg.)*	August 2020 Transaction Price (Avg.)*	September 2019 Transaction Price (Avg.)*	Percent Change August 2020 to September 2020*	Percent Change September 2019 to September 2020*
Compact Car	$21,783	$21,749	$20,877	0.2%	4.3%
Compact SUV/Crossover	$31,027	$30,922	$29,309	0.3%	5.9%
Electric Vehicle	$42,620	$43,028	$43,496	-0.9%	-2.0%
Entry-level Luxury Car	$42,016	$42,204	$42,674	-0.4%	-1.5%
Full-size Car	$36,487	$36,290	$34,021	0.5%	7.2%
Full-size Pickup Truck	$51,424	$51,287	$50,044	0.3%	2.8%
Full-size SUV/Crossover	$66,811	$66,894	$63,024	-0.1%	6.0%
High Performance Car	$97,481	$94,283	$119,413	3.4%	-18.4%
High-end Luxury Car	$92,800	$91,135	$91,702	1.8%	1.2%
Hybrid/Alternative Energy Car	$27,722	$28,239	$27,752	-1.8%	-0.1%
Luxury Car	$58,174	$58,677	$60,174	-0.9%	-3.3%
Luxury Compact SUV/Crossover	$46,563	$46,679	$46,819	-0.2%	-0.5%
Luxury Full-size SUV/Crossover	$89,524	$89,205	$89,980	0.4%	-0.5%
Luxury Mid-size SUV/Crossover	$57,390	$57,130	$59,941	0.5%	-4.3%
Luxury Subcompact SUV/Crossover	$39,882	$40,144	$39,521	-0.7%	0.9%
Mid-size Car	$27,545	$27,118	$26,540	1.6%	3.8%
Mid-size Pickup Truck	$36,203	$36,529	$35,543	-0.9%	1.9%
Mid-size SUV/Crossover	$39,969	$39,607	$39,067	0.9%	2.3%
Minivan	$33,495	$33,951	$34,803	-1.3%	-3.8%
Sports Car	$36,147	$35,913	$31,616	0.7%	14.3%
Subcompact Car	$16,511	$16,833	$17,064	-1.9%	-3.2%
Subcompact SUV/Crossover	$25,197	$25,098	$24,299	0.4%	3.7%
Van	$40,484	$39,053	$37,307	3.7%	8.5%
Grand Total	$38,723	$38,700	$37,783	0.1%	2.5%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

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