U.S. new-car prices remain relatively flat

The average new-car price for light vehicles in the U.S. is now $35,263 — up 0.3 per cent year-over-year from October 2016, according to Kelley Blue Book.

The industry average has increased, but only slightly and as such remains relatively flat.

“Transaction prices continue to rise at a slower pace than we’ve seen recently, expected to be just $100 higher than this time last year,” said Tim Fleming, analyst for Kelley Blue Book.

He adds that “flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as 2017 nears its end.”

Volkswagen Group’s average prices were among the top performers YOY, with average prices rising 2 per cent in October 2017. The increase comes thanks in part to a 4 per cent boost from both its Volkswagen and Audi brands.

Fiat Chrysler’s average prices rose 4 per cent during the same period, helped by a 10 per cent increase from its Dodge brand and a 3 per cent increase from Jeep.

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