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Monday, 19 July 2021 22:18

Average New-Vehicle Prices Hit All-Time High, According to Kelley Blue Book

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The estimated average transaction price (ATP) for a light vehicle in the U.S. was $42,258 in June, according to the analysts at Kelley Blue Book.

New-vehicle prices increased $2,527---up 6.4%---from June 2020, while increasing $928---up 2.2%---from May.
  
"Despite unprecedented low incentives and inventory levels in June, last month showcased more historically high average transaction prices, reaching an all-new record," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "New-vehicle affordability continues to decline as the income required to purchase the average new vehicle continues to climb. In June, for the first time in a decade, vehicle buyers were essentially paying sticker price---the manufacturer's suggested retail price---for new vehicles."

 

According to Kelley Blue Book, the record-high ATP of $42,258 in June was 99.9% of the average MSRP of $42,290. For comparison, in January of this year, ATP was 95.9% of MSRP; one year ago, it was 95.4%.

 

Every vehicle manufacturer except Tesla showed year-over-year growth in average transaction prices in June, with Stellantis seeing the second-largest increase, up 15.8%, just behind Mitsubishi, which climbed 18.3%.

 

The majority of the models in Stellantis' lineup saw increases from this time last year. The Jeep Wrangler and RAM Pickup, two of the automaker's best-selling models, saw double-digit increases compared to June 2020. Despite inventory concerns, the RAM Pickup outsold many of its counterparts in June with...


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