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Tuesday, 18 May 2021 16:45

Average New-Vehicle Prices Continue to Climb, up 2.2% Year Over Year for April

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The estimated average transaction price for a light vehicle in the U.S. was $40,768 in April, according to the analysts at Kelley Blue Book.

New-vehicle prices increased $864---up 2.2%---from April 2020, while increasing $92---up 0.23%---from March of this year.
   
"Comparing the market to this time last year when COVID-19 brought the industry to a halt, highlights an increase in demand, sales and vehicle prices all have contributed to continually rising transaction prices," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "Many manufacturers reported year-over-year growth in average transaction prices, with Volkswagen Group seeing the largest increase year over year, up 9%, while Tesla had the greatest decrease from last year, down 10.3%."

 

The strength of the Volkswagen brand, up 6.8%, was driven by its two best-selling models, the Atlas and Tiguan, both increasing approximately $3,000 on average since last year. Audi, up 6.7%, reported a 30% year-over-year increase in the average transaction price of its second-highest-priced model, the A7, which also increased in sales from April 2020.

 

While Volkswagen's transaction prices rose last month, the story was different for Tesla. The Model X and Model Y, the brand's two most expensive vehicles, dropped 9% in average transaction prices from last year. 

 

At the segment level, luxury full-size SUVs and crossovers had the largest year-over-year growth, up 14.4%. Luxury full-size utility vehicles posted the second-highest average transaction prices at $98,017, just behind high-end luxury cars.

 

All models in the luxury full-size utility segment experienced an increase, including...


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