2019 Subaru Crosstrek
November 1, 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 $38,259 in October 2019. New-vehicle prices increased $1,064 (up 2.9%) from October 2018, while decreasing $141 (down 0.4%) from last month.
"Average transaction prices were generally favorable for most automakers, as the industry average climbed 3% year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs," said Tim Fleming, analyst for Kelley Blue Book. "However, car prices did grow by 2% in October 2019, their biggest improvement in nearly a year."
Manufacturers are focusing incentive programs on the increasingly competitive utility segments, helping make those vehicles more affordable to consumers. Trucks have shown the most strength of any segment with full-size trucks up 3%, while mid-size trucks rose 6%, aided by new and redesigned models.
Among the top performers, Ford Motor Company was up nearly 6% in October 2019 with Ford and Lincoln brands both enjoying increases. The Nautilus had the best month for Lincoln, rising 5%, and the Aviator is having a solid impact, transacting in the high $60,000 range. The redesigned Explorer saw the most improvement, up 15%, while the refreshed Edge was up 4%.
Fiat Chrysler and General Motors also reported strong average transaction prices for October 2019, both up nearly 4% year-over-year.
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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