New-Car Transaction Prices Rise Nearly 2 Percent Year-Over-Year in July 2017, According To Kelley Blue Book
The analysts at Kelley Blue Book www.kbb.com today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,721 in July 2017. New-car prices have increased by $573 (up 1.7 percent) from July 2016, while decreasing slightly (down 0.3 percent) from last month.
“Once again, the declining sales of cars and the growing popularity of SUVs is driving up the average transaction price,” said Tim Fleming, analyst for Kelley Blue Book. “Despite modest sales growth for SUVs in a down market, transaction prices in these segments are not particularly strong, with compact SUVs up just 1 percent and mid-size SUVs flat. However, cars could fall to just 35 percent of overall sales in July, and this shifting sales mix is certainly helping increase most manufacturers’ ATPs.”