The estimated average transaction price (ATP) for light vehicles in the U.S. was $35,444 in February 2018, with average new car prices rising 2.1 per cent the same month year-over-year, according to the analysts at Kelley Blue Book.
“It was another month of solid transaction prices in February 2018, with 2 percent growth year-over-year,” said Tim Fleming, analyst for Kelley Blue Book. “Even with new-vehicle demand expected to continue to slow in 2018, average transaction prices have been unaffected, though incentives have risen similarly to offset part of the extra cost. The numbers indicate that new-car buyers are still willing to pay top dollar for the latest models with the most current features and technology.”
Average transaction prices for American Honda jumped 2 per cent in February, with a 3 per cent boost from the Honda brand. The increased was due in part to a 6 per cent increase from the new Accord sedan, and a 13 per cent increase from the Odyssey minivan.
Toyota benefited from a 3 per cent increase in average transaction prices, with a 9 per cent boost coming from the redesigned Camry. The Lexus brand added a 1 per cent increase to the total, with some expecting that number to climb even more when the redesigned LS sedan appears in dealerships.
As for the Volkswagen Group, the manufacturer enjoyed a 7 per cent increase with the Volkswagen and Porsche brands up 8 per cent respectively. Audi rose 4 per cent.
