2018 Subaru Outback Credit: Subaru
November 1, 2018 - IRVINE, Calif. - /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $37,007 in October 2018. New-vehicle prices increased by $1,118 (up 3.1 percent) from October 2017, while remaining flat (down 0.2 percent) from last month.
"October was a strong month for transaction prices, as the new-car average rose 3 percent," said Tim Fleming, analyst for Kelley Blue Book. "However, much of the growth was aligned to higher priced vehicles like full-size trucks and SUVs. In addition, Tesla is now driving the industry numbers up in a meaningful way, as the brand's sales volume recently soared to the level of top luxury automakers. All segments in the $20,000 to $30,000 price range also showed little-to-no growth, which could be cause for concern considering these segments make up nearly half of the industry's sales totals."
American Honda showed the most year-over-year growth of all automakers, up 5 percent. The Accord continued its impressive gains, posting an 8 percent improvement. A stronger sales mix of the recently refreshed Pilot also helped boost average Honda prices. Acura climbed 3 percent, thanks to the redesigned RDX, which jumped up 10 percent while also growing its market share in the highly competitive small luxury SUV segment.
Nissan North America also had a great month with its nearly 5 percent increase in transaction prices for October 2018. The top-selling Rogue was up 3 percent and the new LEAF climbed 4 percent, helping the Nissan brand rise 4 percent on average. However, the Altima did fall 3 percent, as the current generation sells down prior to the new generation's launch. INFINITI grew its transaction prices by 6 percent, as the redesigned QX50 put up big numbers, jumping 20 percent.
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Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. 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 is a Cox Automotive brand.
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SOURCE Kelley Blue Book