Slow growth for new car prices, says Kelley Blue Book

Transaction prices for light vehicles in the U.S. increased less than two per cent in June — a slower than normal rate of growth, according to Kelley Blue Book analyst Tim Fleming.

Average transaction price in June, 2017 was $34,442. New car prices increased by $511, or 1.5 per cent, from June 2016.

“As the industry enters a ‘post-peak’ environment for new car sales, more pressure will be placed on transaction prices,” said Fleming. “Kelley Blue Book is seeing more mixed results among manufacturers and popular segments, such as full-size trucks and mid-size cars, both of which are flat, as well as compact SUVs, which rose one per cent.”

The trends are likely to continue as retail sales weaken, he said.

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