New-Car Transaction Prices Increase Nearly 3 Percent Year-Over-Year In September 2016, According To Kelley Blue Book

Nissan North America Transaction Pricing Strengthens on Armada and Rogue; Volkswagen Group Only Automaker Down From Last Year

IRVINE, Calif., Oct. 3, 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 $34,372 in September 2016.  New-car prices have increased by $823 (up 2.5 percent) from September 2015, while falling $82 (0.2 percent) from last month. 

"Much of the automotive industry's focus recently has been on rising incentives and very little sales growth, however average transaction prices continue to rise across the industry, climbing nearly 3 percent in September 2016 from the previous year," said Tim Fleming, analyst for Kelley Blue Book. "This trend has been bolstered by the shift in consumer preference from cars to crossovers and SUVs.  Mid-size trucks also stand out as a segment on the rise, with sales up double digits and transaction prices rising nearly 6 percent on average to $32,350."

While average transaction prices for the domestic automakers continued to rise in September 2016, Nissan North America saw the greatest increase of all major manufacturers at nearly 6 percent, highlighted by solid growth from the Nissan and Infiniti brands.  Nissan rose an impressive 7 percent, thanks to the all-new Armada which transacted 14 percent higher year-over-year, and the Rogue, which climbed 4 percent.  Infiniti also increased 3 percent, as a result of a strong month from the Q50, which transacted nearly 7 percent higher from this time last year, in part due to the vehicle's new Red Sport trim. 

The only automaker down year-over-year is Volkswagen Group, which fell nearly 3.5 percent in September 2016.  While the Volkswagen brand is transacting 7 percent lower, the Audi brand performed the best with an increase of 1 percent, driven largely by the all-new Q7, which rose 14 percent to $65,439.

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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 55,000 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; Joanna Pinkham, 404-568-7135, joanna.pinkham@kbb.com