New-Vehicle Prices Keep Rising, According to Kelley Blue Book
The estimated average transaction price for a light vehicle in the United States was $37,851 in January 2020, according to the valuation analysts at Kelley Blue Book.
New-vehicle prices increased $1,296 (up 3.5%) from January 2019, while falling $806 (down 2.1%) from last month.
Hyundai and Kia were the big success stories in January, as their average prices climbed more than 12 percent. The sales mix played a role in helping these brands, as their SUV share grew by about 10 percentage points.
Launched last year, Hyundai Palisade and Kia Telluride continue to lead the charge for both brands, transacting at more than $40,000 last month.
With the new subcompact Kia Seltos and Hyundai Venue utility vehicles launching now, Hyundai and Kia are looking to continue the SUV momentum that has been established.
Ford Motor Company was another manufacturer with big transaction price increases in January 2020, with both Ford and Lincoln climbing about 6%. Ford’s discontinuation of cars, specifically Fiesta and Focus, means less volume on the lower end of the price spectrum.
In January 2020, the redesigned Explorer saw the largest transaction price jump for Ford at 12%, while the all-new Escape’s average price rose 6%.
Making up nearly a quarter of Lincoln brand sales last month, the new Aviator transacted at $67,730. The new Lincoln Corsair is also enjoying a solid launch and saw 10% gains in average transaction prices versus the outgoing MKC.
Find out more at www.kbb.com.
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