New-Car Transaction Prices Rise Less Than 1 Percent In October 2014
IRVINE, Calif., November. 4, 2014 - 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 $33,361 in October 2014. New-car prices have increased by $246 (up 0.6 percent) from October 2013, while rising $185 (0.7 percent) from last month.
"Utility vehicles, especially small and mid-size, are the story once again, as consumers are buying more and willing to pay more for these models," said Alec Gutierrez, senior analyst for Kelley Blue Book. "With gas prices at a three-year low and with consumer confidence at a seven-year high, this trend should continue."
This month, Ford Motor Company is among the top performers with transaction prices up 2.1 percent. The Ford brand is up 2.3 percent on strong F-Series pricing, while Lincoln was down 2.1 percent. The only Lincoln model with a higher average transaction price year-over-year was the Navigator at 1.9 percent.
"Among import brands, Nissan North America continued to show declines in transaction prices, despite increasing sales by 13 percent this year," said Tim Fleming, analyst for Kelley Blue Book. "This is partly due to their mix, as the share of the brands smallest cars, the Versa and Sentra, makes up more than one quarter of Nissan's sales. The Nissan brand was down 1 percent in October, while Infiniti was down 2.3 percent."
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