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Thursday, 11 March 2021 19:58

Average New-Vehicle Prices Jump More Than 6% Year-Over-Year: Kelley Blue Book

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The valuation analysts at Kelley Blue Book on March 11 reported the estimated average transaction price for a light vehicle in the U.S. was $41,066 in February.

New-vehicle prices increased $2,515, up 6.52%, from February 2020, while falling $31, down 0.08%, from January.
   
"February's average transaction price performance year-over-year has continued to climb," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "On the other hand, month-over-month performance showcases the impact of the luxury and non-luxury mix in the market---with more than half of the luxury vehicle segments reporting drops in transaction prices from January 2021."

 

Most manufacturers saw year-over-year growth in February; however, Stellantis reported the greatest increase, up 12.27%, while Mitsubishi saw the biggest decline, down 6.67%.

 

Driving Stellantis' success were Dodge, Fiat and RAM, all of which were in the top five for year-over-year brand transaction price increases. The Dodge Durango saw an increase in sales year-over-year, and also benefitted from being the highest priced vehicle in the brand's lineup.

 

Dodge also discontinued the Dodge Caravan in 2020, which was one of its lower-priced models. Additionally, despite a dip in sales from last year, RAM's pickup saw more than 10% growth in its average transaction price.

 

For the second month in a row, Mitsubishi's two highest priced models---the Eclipse Cross and Outlander---saw year-over-year drops in sales, bringing the average transaction price...


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