Most Major Automakers Show Positive Growth on Strength of Utility Vehicle Segments
The data analysts at Kelley Blue Book, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $32,342 in June 2014. New-car prices have increased by $454 (up 1.4 percent) from June 2013, while increasing $113 (0.4 percent) from last month.
“Most major automakers showed positive growth for June 2014, as the market continues to shift toward utility vehicles this year,” said Alec Gutierrez, senior analyst for Kelley Blue Book. “SUV and crossover share increased more than two percentage points in 2014 to comprise one-third of the market.”
*Kelley Blue Book Average Transaction Prices do not include applied consumer incentives
“Most notable in June, General Motors posted a solid 5.4 percent year-over-year gain, helped by its truck and SUV lineup,” said Tim Fleming, analyst for Kelley Blue Book. “The Chevrolet Silverado’s average transaction price is up 7.9 percent, while the new Tahoe and Suburban have climbed 10 percent from last year.”
On the other hand, Nissan North America transaction prices continue to decline, despite an increase in new-car sales. This is partly due to the manufacturer’s mix, as the share of its smallest cars, the Versa and Sentra, has eclipsed a quarter of Nissan’s sales. The average transaction price of Nissan’s biggest seller, Altima, is down 1 percent year-over-year.
About Kelley Blue Book
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In and Suggested Retail Values, and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book’s KBB.com ranked highest in its category for brand equity by the 2014 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for three consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.