Heading into the spring selling season, the expert analysts at Kelley Blue Bookwww.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price for light vehicles in the United States was $31,995 in March 2014. New-car prices have increased by $450 (up 1.4 percent) from March 2013, while decreasing $185 (0.6 percent) from last month.
“We are seeing continued year-over-year gains in average transaction prices. The increase in prices have been enough to offset rising incentive spend and consumers have consistently shown they are willing to spend top dollar for the best models available, so the first focus for manufacturers should remain on building solid products,” said Karl Brauer, senior analyst for Kelley Blue Book. “Much like last month, American Honda is particularly strong with help from Acura, which is up 5.9 percent from last year. The MDX is driving powerful sales, increasing its average transaction price and boosting the brand. Honda also is benefitting from a stronger mix of Odyssey and CR-V in the marketplace.”
|Manufacturer||March2014 Transaction Price (Avg.)||February2014 Transaction Price (Avg.)||March 2013 Transaction Price (Avg.)||Percent Change February 2014 to March2014||Percent Change March 2013 to March 2014|
|American Honda (Acura, Honda)||$28,454||$28,364||$27,278||0.3%||4.3%|
|Chrysler Group (Chrysler, Dodge, Fiat, Jeep, RAM)||$32,018||$31,953||$31,063||0.2%||3.1%|
|Ford Motor Company (Ford, Lincoln)||$34,372||$34,436||$33,808||-0.2%||1.7%|
|General Motors (Buick, Cadillac, Chevrolet, GMC)||$35,006||$35,357||$34,389||-1.0%||1.8%|
|Nissan North America (Nissan, Infiniti)||$27,697||$27,876||$28,577||-0.6%||-3.1%|
|Toyota Motor Company (Lexus, Scion, Toyota)||$30,882||$30,903||$30,199||-0.1%||2.3%|
|Volkswagen Group (Audi, Volkswagen)||$34,467||$34,028||$33,605||1.3%||2.6%|
“Revealing the only drop among all major automakers from this time last year, Nissan has fallen due to its best-selling Altima, which has a transaction price down 4.8 percent year-over-year,” said Alec Gutierrez, senior analyst for Kelley Blue Book. “The Rogue, which was recently redesigned, only shows a small 0.9 percent grain, while Nissan’s luxury counterpart, Infiniti, is essentially flat.”
Heading into spring, sales are anticipated to continue on an upward trajectory. The momentum built in March should set the market up for some big months ahead, as consumers return to market following tumultuous winter weather for most of the nation.
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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In and Suggested Retail Values, and Fair Purchase Price, which reports what others are paying for new cars this week. 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 Co., Inc. is a subsidiary of AutoTrader Group, which includes AutoTrader.com, vAuto, VinSolutions and HomeNet Automotive. AutoTrader Group is a majority-owned subsidiary of Cox Enterprises.