New Car Prices Reach New Record

By Staff Writer December 25, 2018

New-vehicle retail sales in December are expected to fall from a year ago, according to a forecast developed jointly by J.D. Power and LMC Automotive.

Retail sales are projected to reach 1,310,700 units, a 1 percent decrease compared with December 2017.

The average transaction price in December is on pace to reach $34,292, another industry record. This reflects growth in prices for cars (up $591 to $27,754) and trucks/SUVs ($173 to $36,548). 

Incentive discipline has continued into December, as spending is expected to decline year over year for the sixth consecutive month.  December to-date spending is $4,098 per unit, down $164 from the same time last year. Spending on cars is down $663, while spending on trucks/SUVs is up $42.

Retail sales for the calendar year are expected to reach 13.9 million, a decline of 1.3 percent from last year.

Last modified on Tuesday, 25 December 2018 03:45

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