IRVINE, Calif. — The analysts at Kelley Blue Book reported the estimated average transaction price (ATP) for light vehicles in the United States was $36,270 in January 2018. New-car prices have increased by $1,360 (up 3.9%) from January 2017, while dropping $486 (down 1.3%) from last month.
“January was a strong month for transaction prices, rising nearly 4% on average. The shifting sales mix to trucks and SUVs has been particularly extreme lately, and as volume shifts away from cars, the average vehicle price ticks up,” said KBB analyst Tim Fleming. “However, there was a glimmer of hope in the midsize car segment, where prices rose 3% in January, thanks to the newest generations of the Toyota Camry and Honda Accord. These well-received new models, along with the redesign of the Nissan Altima due later this year, will test how much demand still exists for sedans.”
While American Honda and Volkswagen Group continue to strengthen their average transaction values, other noteworthy manufacturers include General Motors and Fiat Chrysler. General Motors was up 4% year-over-year, with GMC showing the most improvement. GMC’s average climbed 7%, with the redesigned Terrain as its best performer, up 6%. Buick also had a good month, up 5%, as the redesigned Enclave rose 9%.
Fiat Chrysler’s average jumped nearly 4% in January 2018 on a strong mix of RAM trucks and Jeep SUVs. The new Jeep Compass had the best month for Fiat Chrysler, rising 5%, although the Wrangler, which is due for a redesign early in 2018, was down 1%. Dodge rose an impressive 8%, an average that was helped by the discontinuation of the Dart sedan.