IRVINE, Calif. — The estimated average transaction price (ATP) for light vehicles in the United States was $33,299 in February 2015, and new-car prices have increased by $1,145 — or 3.6% — from the previous year, according to Kelley Blue Book. New-car prices were down from January by 0.6%, or $208.
"An expected higher mix of SUVs, particularly full-size and mid-size, is helping drive the overall industry average upward," said Alec Gutierrez, senior analyst for Kelley Blue Book. "While utility vehicles are thriving, hybrid cars are doing the opposite, with transaction prices falling 2.5% from last year. Though rising 30 cents in February, gas prices are still more than a dollar cheaper than this time last year, so it will be interesting to see if these trends hold true in the coming months."
Reporting the largest percentage gain of all major manufacturers, Hyundai-Kia is up 6.6%. The Hyundai brand was up 8.3% with the biggest increase coming from the redesigned Genesis, which was up 22% year-over-year. In addition, Kia's average transaction prices are up 4.8% with solid increases from its redesigned Sorento mid-size crossover at 4%.
"Most automakers are benefiting from the utility vehicles in their lineups this month," said Tim Fleming, analyst for Kelley Blue Book. "In fact, American Honda increased 2.2% on average with help from strong demand for the CR-V, while Fiat Chrysler also gained on a stronger mix of Jeep and RAM sales compared to this time last year."
ManufacturerFebruary 2015 Transaction Price (Avg.)*January 2015 Transaction Price (Avg.)*February 2014 Transaction Price (Avg.)*Percent Change January 2015 to February 2015*Percent Change February 2015 to February 2015* American Honda (Acura, Honda) $27,909 $27,974 $27,306 -0.2% 2.2% Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) $33,369 $33,249 $33,179 0.4% 3.7% Ford Motor Company (Ford, Lincoln) $35,014 $35,339 $34,327 -0.9% 2.0% General Motors (Buick, Cadillac, Chevrolet, GMC) $36,840 $37,160 $34,970 -0.9% 5.3% Hyundai-Kia $25,367 $25,324 $23,786 0.2% 6.6% Nissan North America (Nissan, Infiniti) $28,181 $28,163 $27,547 0.1% 2.3% Toyota Motor Company (Lexus, Scion, Toyota) $30,581 $30,900 $29,987 -1.0% 2.0% Volkswagen Group (Audi, Volkswagen, Porsche) $38,410 $40,379 $38,198 -4.9% 0.6% Industry$33,299$33,507$32,154-0.6%3.6%
*Kelly Blue Book average transaction prices do not inlcude applied consumer incentives.
