Average New-Car Prices Near $40,000

By Staff Writer December 02, 2020

The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the United States was $39,259 in November 2020. New-vehicle prices increased $499 (up 1.3 percent) from November 2019, while falling $480 (down 1.2 percent) from last month.   

"COVID-19 began its second surge with cases on the rise this past month and right before the holiday season," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "Consumer confidence has been faltering and unemployment remains stubbornly high. Still, consumers in the market for new vehicles are demonstrating an ability to pay premium prices. While average transaction prices are down from last month, they remain historically elevated, with November forecasted to be the third-highest month on record."

The only automakers with both month-over-month and year-over-year gains included Fiat Chrysler, Hyundai Kia, and Subaru, with Fiat Chrysler reporting the largest year-over-year growth at 6 percent. Nissan North America and Volkswagen Group were down from last month and this time last year.

At the segment level, vans reported the largest year-over-year increases, up 9.57 percent, with the full-size car and full-size pickup segments following behind—up more than 7 percent year-over-year.

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Last modified on Wednesday, 02 December 2020 14:29