Average New Car Price Tops $38,000 Featured

By Staff Writer November 03, 2019

The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the U.S. was $38,259 in October. New-vehicle prices increased $1,064 (up 2.9 percent) year-over-year, while decreasing $141 (down 0.4 percent) from last month.   

“Average transaction prices were generally favorable for most automakers, as the industry average climbed 3 percent year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs,” said Tim Fleming, analyst for Kelley Blue Book. “However, car prices did grow by 2 percent in October, their biggest improvement in nearly a year.”

Manufacturers are focusing incentive programs on the increasingly competitive utility segments, helping make those vehicles more affordable to consumers. Trucks have shown the most strength of any segment with full-size trucks up 3 percent, while mid-size trucks rose 6 percent, aided by new and redesigned models. 

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Last modified on Friday, 08 November 2019 19:48

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