Money & The Economy

New-Car Prices Rise 2 Percent Year-Over-Year

Analysts reported today that the estimated average transaction price for light vehicles in the United States was $35,742 in September 2018New-vehicle prices increased by $687 (up 2 percent) from September 2017, while remaining flat (down 0.4 percent) from last month.

“While September sales are expected to decline, average transaction prices remained strong, rising 2 percent year-over-year,” said Tim Fleming, analyst for Kelley Blue Book. “With interest rates on the rise and manufacturer incentives at a healthy level, thanks to tighter production, monthly payments for consumers are immediately impacted. If gas prices stay high in the fourth quarter, affordability will likely be a concern for new-car buyers and could lead to fewer sales at year-end.”

Manufacturer

September

 2018

Transaction Price (Avg.)*

August

2018

Transaction Price (Avg.)*

September

2017 Transaction Price (Avg.)*

Percent Change August 2018 to September 2018*

Percent Change September

2017 to September

2018*

American Honda (Acura, Honda)

$29,071

$29,318

$27,793

-0.8%

4.6%

Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)

$38,373

$38,200

$38,128

0.5%

0.6%

Ford Motor Company (Ford, Lincoln)

$40,442

$40,891

$39,198

-1.1%

3.2%

General Motors (Buick, Cadillac, Chevrolet, GMC)

$40,516

$40,775

$38,973

-0.6%

4.0%

HyundaiKia

$25,119

$25,234

$24,716

-0.5%

1.6%

Nissan North America (Nissan, INFINITI)

$30,104

$30,440

$29,407

-1.1%

2.4%

Subaru

$29,480

$29,381

$28,708

0.3%

2.7%

Toyota Motor Company (Lexus, Toyota)

$32,605

$32,873

$31,810

-0.8%

2.5%

Volkswagen Group (Audi, Volkswagen, Porsche)

$39,750

$39,804

$40,055

-0.1%

-0.8%

Industry

$35,742

$35,887

$35,055

-0.4%

2.0%

*Kelley Blue Book average transaction prices do not include applied consumer incentives

 

American Honda and General Motors were the strongest performers with help from redesigned models and the strength of trucks and utility vehicles. Also among the top three performers, Ford Motor Company’s average transaction prices grew by 3 percent in September 2018Lincoln rose 12 percent, thanks to the Navigator, which was up 33 percent. The Ford brand also reported a good month, up 3 percent. The new Expedition had the biggest month for Ford, increasing 16 percent, while Mustang improved 9 percent on a high sales mix of the Mustang GT.

Among the major manufacturers, Volkswagen Group reported the only year-over-year decline, falling 1 percent, as Volkswagen’s 2 percent gains were offset by Audi’s 4 percent decline. Volkswagen’s improvement was largely due to the Tiguan, with its share of sales doubling since its redesign. Audi had a lot of new models in its lineup last year, which is contributing to this year’s declines. The Q5, Audi’s top seller, was down 2 percent.

Segment

September

 2018

Transaction Price (Avg.)*

August

2018

Transaction Price (Avg.)*

September

2017 Transaction Price (Avg.)*

Percent Change August 2018 to September 2018*

Percent Change September

2017 to September

2018*

Compact Car

$20,508

$20,548

$20,270

-0.2%

1.2%

Compact SUV/Crossover

$28,594

$28,511

$28,394

0.3%

0.7%

Electric Vehicle

$37,246

$37,070

$37,959

0.5%

-1.9%

Entry-level Luxury Car

$42,029

$42,046

$42,733

0.0%

-1.6%

Full-size Car

$34,395

$34,713

$34,199

-0.9%

0.6%

Full-size Pickup Truck

$48,369

$48,684

$47,233

-0.6%

2.4%

Full-size SUV/Crossover

$61,490

$61,834

$60,525

-0.6%

1.6%

High Performance Car

$96,505

$98,067

$90,292

-1.6%

6.9%

High-end Luxury Car

$93,326

$95,330

$94,797

-2.1%

-1.6%

Hybrid/Alternative Energy Car

$26,879

$27,078

$26,439

-0.7%

1.7%

Luxury Car

$57,388

$57,545

$57,762

-0.3%

-0.6%

Luxury Compact SUV/Crossover

$44,854

$45,384

$44,050

-1.2%

1.8%

Luxury Full-size SUV/Crossover

$86,827

$88,000

$83,326

-1.3%

4.2%

Luxury Mid-size SUV/Crossover

$55,294

$54,986

$55,727

0.6%

-0.8%

Mid-size Car

$25,502

$25,456

$25,325

0.2%

0.7%

Mid-size Pickup Truck

$33,838

$33,820

$32,748

0.1%

3.3%

Mid-size SUV/Crossover

$38,239

$38,294

$37,796

-0.1%

1.2%

Minivan

$35,279

$34,639

$36,287

1.8%

-2.8%

Sports Car

$35,442

$35,219

$34,262

0.6%

3.4%

Subcompact Car

$15,401

$15,469

$15,169

-0.4%

1.5%

Subcompact SUV/Crossover

$24,147

$23,974

$24,208

0.7%

-0.3%

Van

$35,798

$35,625

$35,203

0.5%

1.7%

Grand Total

$35,742

$35,887

$35,055

-0.4%

2.0%

*Kelley Blue Book average transaction prices do not include applied consumer incentives

Carl Fox

Carl Fox is the senior money and finance writer for Conservative Daily News. Follow him in the "Money & The Economy" section at CDN and see his posts on the "Junior Economists" Facebook page.

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