Subaru Outback Credit: Subaru
June 5, 2019 - IRVINE, Calif. /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,185 in May 2019. New-vehicle prices increased $1,320 (up 3.7 percent) from May 2018, while decreasing $208 (down 0.6 percent) from last month.
"Although May's sales tally is expected to be down, the good news is that average prices for those sales rose nearly 4 percent from one year ago," said Tim Fleming, analyst for Kelley Blue Book. "SUVs bounced back in May 2019and drove many of those increases for automakers, especially those with new and redesigned models on dealer lots. However, with this expected to be the fifth down month in a row, the question for this year remains whether automakers will start to trade some of their pricing power for greater incentives and more sales."
Fiat Chrysler had another strong month, posting more than a 6 percent increase, thanks to RAM and Jeep. RAM prices were up nearly 5 percent on the strength of the RAM 1500 and the new RAM 2500. Meanwhile, Jeep prices also were up 5 percent, as the Wrangler was up 7 percent. In addition, the Gladiator pickup showed a strong launch skewed greatly toward the Rubicon trim, with average prices in the high $50,000 range.
Subaru has another strong increase, as average transaction prices rose by 5 percent, with the new Ascent SUV helping the brand's average the most. In addition, the redesigned Forester posted a 4 percent year-over-year increase.
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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