Pricing Strong Across Most Segments; Hyundai Kia Marks Largest Percentage Gain Among Major Automakers
The analysts at Kelley Blue Book kbb.com, 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 $34,367 in December 2014. New-car prices have increased by $842 (up 2.5 percent) from December 2013, while rising $556 (1.6 percent) from last month. This is the highest month on record for average transaction prices.
“Pricing is strong across most of the industry with the exception of the hybrid/alternative energy segment, which dropped 1.2 percent as gas prices hit a five-year low,” said Alec Gutierrez, senior analyst for Kelley Blue Book. “Lower gas prices will further help the market for trucks and utilities, which are traditionally popular in December.”
Among those brands benefitting from the strength in trucks and utility vehicles, Fiat Chrysler transaction prices are up 2.3 percent on strong RAM sales as well as higher Dodge pricing. Dodge average transaction prices were up 6.8 percent following the discontinuation of the discount mid-size Avenger sedan. In addition, Challenger, now including the 707-horsepower SRT Hellcat model, is up 15.4 percent.
“Another notable automaker is Hyundai Kia with the biggest percentage gain of the major manufacturers at 5.5 percent,” said Tim Fleming, analyst for Kelley Blue Book. “The Hyundai brand was up 6.8 percent, helped by the Sonata, which brought the model’s average up 6.1 percent to $26,046. Kia average transaction prices were up 3.1 percent, highlighted by a 16.7 increase from the recently redesigned Sedona minivan.”
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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 Values and Fair Purchase Price, which reports what others are paying for new and used 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.