Monday, November 30, 2020

New-Vehicle Prices Up 3% Year-Over-Year in June 2020

The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,530 in June 2020. New-vehicle prices increased $1,141 (up 3.1%) from June 2019, while rising $160 (up 0.4%) from last month.

ManufacturerJune 2020 Transaction
Price (Avg.)*
May 2020 Transaction
Price (Avg.)*
June 2019
Price (Avg.)*
May 2020
to June 2020*
June 2020*
American Honda (Acura, Honda)$29,346$29,231$28,7520.4%2.1%
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)$43,464$43,467$41,3510.0%5.1%
Ford Motor Company (Ford, Lincoln)$44,092$44,307$41,145-0.5%7.2%
General Motors (Buick, Cadillac, Chevrolet, GMC)$43,100$42,741$42,2990.8%1.9%
Hyundai Kia$27,945$28,239$26,064-1.0%7.2%
Nissan North America (Nissan, INFINITI)$31,434$31,770$28,978-1.1%8.5%
Toyota Motor Company (Lexus, Toyota)$35,726$35,395$33,4070.9%6.9%
Volkswagen Group (Audi, Volkswagen, Porsche)$42,535$42,468$43,7410.2%-2.8%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

Nissan North America continued its strong run with June average transaction figures up 8%. Nissan’s cars actually rose the most, with the redesigned Versa (up 15%) and Sentra (up 7%) being the main drivers despite all the attention on trucks and SUVs. Even the Frontier benefitted from the rising tide lifting all trucks, up more than 4% and selling close to $30,000 on average. Nissan’s top seller, Rogue, also managed a 1.5% gain as it enters it sell down months, scheduled to be replaced by a new generation later this year.

Cars continued their comeback, showing improvements of all body styles and averaging 3% gains. Compact cars led the way with nearly 4% increases, thanks in part to the new Sentra. Mid-size SUVs had the biggest jump of any segment, rising 6% on the redesigned Ford Explorer (up 12%), Jeep Wrangler (up 5%), and the all-new Hyundai Palisade, which sells for $42,516 on average, $2,000 higher than the segment average. Lastly, the mix of SUVs and trucks is still pushing the average new-vehicle price up, with June’s light truck mix expected to be around 76%, up from 71% one year ago.

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