New-Car Transaction Prices Climb Nearly 2 Percent Year-Over-Year In November 2016, According To Kelley Blue Book
12/01/2016
Fastest-Growing Subcompact Utility Segment Slowing with Transaction Prices Down on Highly Discounted Inventory
IRVINE, Calif., Dec. 1, 2016 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,948 in November 2016. New-car prices have increased by $581 (up 1.7 percent) from November 2015, while dropping $51 (down 0.1 percent) from last month.
"Climbing transaction prices reflect the shift in consumer preference from cars to more expensive trucks and SUVs," said Tim Fleming, analyst for Kelley Blue Book. "Manufacturers with strong truck and SUV lineups are currently seeing record pricing, especially in these late fall months when these segments are especially popular. However, the subcompact utility segment, which is the fastest-growing segment in the industry this year, is showing signs of slowing, with prices falling by 1 percent, thanks to higher discounts used to sell down excess inventory."
| Manufacturer | November 2016 | October 2016 | November 2015 | Percent 2016 to 2016* | Percent 2015 to 2016* |
| American Honda (Acura, Honda) | $27,426 | $27,545 | $27,448 | -0.4% | -0.1% |
| Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) | $36,244 | $36,420 | $34,614 | -0.5% | 4.7% |
| Ford Motor Company (Ford, Lincoln) | $38,488 | $38,953 | $37,573 | -1.2% | 2.4% |
| General Motors (Buick, Cadillac, Chevrolet, GMC) | $39,826 | $39,827 | $38,857 | 0.0% | 2.5% |
| $24,493 | $24,570 | $24,915 | -0.3% | -1.7% | |
| Nissan North America (Nissan, Infiniti) | $28,796 | $29,625 | $27,847 | -2.8% | 3.4% |
| $28,481 | $28,761 | $27,904 | -1.0% | 2.1% | |
| Toyota Motor Company (Lexus, Scion, Toyota) | $31,887 | $31,673 | $31,423 | 0.7% | 1.5% |
| Volkswagen Group (Audi, Volkswagen, Porsche) | $39,985 | $39,631 | $40,066 | 0.9% | -0.2% |
| Industry | $34,948 | $34,999 | $34,367 | -0.1% | 1.7% |
| *Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
Among the greatest gains of all major automakers, Nissan North America's transaction prices rose 3.4 percent in November 2016, with the Nissan brand up 5 percent. Nissan was helped by the new Armada SUV, which increased 16 percent year-over-year, and the Titan XD pickup helped push the Titan's average transaction prices up 34 percent to $50,447.
On the other hand, Hyundai-Kia transaction prices fell 2 percent, with Hyundai's prices falling 4 percent and Kia's prices decreasing 1 percent. The Sonata had the biggest declines for Hyundai, dropping 5 percent. Kia's biggest improver was the new Sportage, a recent 2017 Kelley Blue Book Best Buy Award winner, which is up 6 percent.
| Segment | November 2016 | October 2016 | November 2015 | Percent 2016 to 2016* | Percent 2015 to 2016* |
| Compact Car | $20,339 | $20,440 | $20,037 | -0.5% | 1.5% |
| Compact SUV/Crossover | $26,700 | $26,559 | $26,453 | 0.5% | 0.9% |
| Electric Vehicle | $39,104 | $39,775 | $39,637 | -1.7% | -1.3% |
| Entry-level Luxury Car | $40,806 | $41,586 | $40,467 | -1.9% | 0.8% |
| Full-size Car | $34,391 | $34,515 | $33,849 | -0.4% | 1.6% |
| Full-size Pickup Truck | $46,473 | $46,576 | $45,985 | -0.2% | 1.1% |
| Full-Size SUV/Crossover | $60,108 | $59,627 | $60,221 | 0.8% | -0.2% |
| High Performance Car | $95,421 | $89,946 | $99,746 | 6.1% | -4.3% |
| High-end Luxury Car | $92,174 | $93,463 | $92,780 | -1.4% | -0.7% |
| Hybrid/Alternative Energy Car | $25,439 | $25,860 | $24,519 | -1.6% | 3.8% |
| Luxury Car | $55,960 | $57,436 | $55,778 | -2.6% | 0.3% |
| Luxury Compact SUV/Crossover | $41,242 | $40,260 | $40,471 | 2.4% | 1.9% |
| Luxury Full-size SUV/Crossover | $82,585 | $83,706 | $83,331 | -1.3% | -0.9% |
| Luxury Mid-size SUV/Crossover | $54,081 | $55,007 | $54,093 | -1.7% | 0.0% |
| Mid-size Car | $25,121 | $25,274 | $24,964 | -0.6% | 0.6% |
| Mid-size Pickup Truck | $32,169 | $32,857 | $31,514 | -2.1% | 2.1% |
| Mid-size SUV/Crossover | $37,057 | $36,914 | $36,706 | 0.4% | 1.0% |
| Minivan | $32,831 | $33,444 | $32,635 | -1.8% | 0.6% |
| Sports Car | $31,196 | $31,594 | $30,201 | -1.3% | 3.3% |
| Subcompact Car | $16,461 | $16,635 | $16,529 | -1.0% | -0.4% |
| Subcompact SUV/Crossover | $24,482 | $24,357 | $24,734 | 0.5% | -1.0% |
| Van | $34,579 | $35,341 | $33,330 | -2.2% | 3.7% |
| Grand Total | $34,948 | $34,999 | $34,367 | -0.1% | 1.7% |
| *Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to book an interview.
For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.
About Kelley Blue Book (www.kbb.com)
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 the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. 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's KBB.com ranked highest in its category for brand equity by the 2016 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for five consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive brand.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 33,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
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SOURCE Kelley Blue Book
For further information: Andrew Nicolai, 949-293-5241, andrew.nicolai@coxautoinc.com; Brenna Robinson, 949-267-4781, brenna.robinson@kbb.com; Michelle Behar, 949-268-4259, michelle.behar@kbb.com
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