KBB.com: New-Car Prices Up Nearly 4% in May
Kelley Blue Book analysts say a parade of new models helped drive the average price for a new vehicle sold in the U.S. to $37,185 in May, a 3.7% year-over-year increase.
Sales of the new Ascent SUV helped boost Subaru’s average transaction prices by 5% in May.
Photo courtesy Subaru of America Inc.
IRVINE, Calif. — The valuation analysts at Kelley Blue Book 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%) from May 2018, while decreasing $208 (down 0.6%) from last month.
Fiat Chrysler had another strong month, posting more than a 6% increase, thanks to Ram and Jeep. Ram prices were up nearly 5% on the strength of the Ram 1500 and the new Ram 2500. Meanwhile, Jeep prices also were up 5%, as the Wrangler was up 7%. 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%, with the new Ascent SUV helping the brand’s average the most. In addition, the redesigned Forester posted a 4% year-over-year increase.
“Although May’s sales tally is expected to be down, the good news is that average prices for those sales rose nearly 4% from one year ago,” said Kelley Blue Book analyst Tim Fleming. “SUVs bounced back in May 2019 and 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.”
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