New-car transaction prices increase nearly 3% in SeptemberStaff Writer | October 3, 2016
The analysts at Kelley Blue Book reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,372 in September 2016.
Car sales The analysts at Kelley Blue Book:
"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. ■