New-Car Transaction Prices Jump Nearly 3 Percent In August 2014, According To Kelley Blue Book

General Motors Post Greatest Transaction Price Increases on SUV and Truck Lineups

IRVINE, Calif., Sept. 3, 2014 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $32,495 in August 2014.  New-car prices have increased by $851 (up 2.7 percent) from August 2013, while dropping $16 (0.1 percent) from last month.

"Similar to last month, trucks and full-size SUV/crossovers are driving average transaction price increases, as full-size truck transaction prices alone are up 5.5 percent," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "Following several redesigns, full-size SUV/crossover segment sales could have double-digit growth and transaction prices have climbed more than 7 percent in August.  With a host of new models and gas prices trending downward, these will continue to be the hot vehicle segments."

General Motors reports the greatest increases in average transaction prices among all major manufacturers on the strength of its Chevrolet and GMC SUV and truck lineups.  The Chevrolet brand is up 6 percent with its Tahoe and Suburban models posting double-digit average transaction price jumps, while the GMC counterparts, Yukon and Yukon XL, are up more than 7 percent. 

"Due to strong Jeep and RAM sales, Chrysler Group also is up 4.2 percent from last year," said Tim Fleming, analyst for Kelley Blue Book.  "Transaction prices are up for all Chrysler brands, with RAM up 5.8 percent and Chrysler up 4.2 percent.  The new Chrysler 200 is now selling for 10.4 percent higher than last year at $27,658."

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only 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 2014 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for three consecutive years.  Kelley Blue Book Co., Inc. is a Cox Automotive company.

SOURCE Kelley Blue Book

For further information: Chintan Talati, 949-267-4855, ctalati@kbb.com, or Joanna Pinkham, 404-568-7135, jpinkham@kbb.com, or Brenna Robinson, 949-267-4781, berobinson@kbb.com