Average New-Car Prices Rise Nearly 2 Percent Year-Over-Year, Set New Record High, According To Kelley Blue Book
The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,870 in November 2017. New-car prices have increased by $554 (up 1.6 percent) from November 2016, while climbing $83 (up 0.2 percent) from last month.
“Transaction prices reached a new record high in November 2017,” said Tim Fleming, analyst for Kelley Blue Book. “Prices are being driven higher by the shifting sales mix away from cars, which now stands at just 34 percent and is trending downward. Kelley Blue Book continues to see much of the consumer demand geared toward small SUVs, which saw prices rise by 3 percent, in addition to strong sales growth. This segment features many recent redesigns, and shows no signs of weakness despite the overall down market for new vehicles.”