Average new car prices in the U.S. rose 2 per cent in March 2018 year-over-year thanks in large part to strong SUV sales, according to the analysts at Kelley Blue Book.
“Most automaker transaction prices increased in March 2018 as the industry average rose 2 per cent,” said Tim Fleming, analyst for Kelley Blue Book. “Average transaction price growth was headlined by SUVs, particularly in the mid-size and full-size segments. Although fuel prices were up last month, SUV sales remain strong and new models like the Chevrolet Traverse and Lincoln Navigator helped elevate their respective segments.”
The estimated average transaction price (ATP) for light vehicles in the country was $35,285 in March, representing an increase of $703 from a year earlier.
The ATP for General Motors jumped 4 percent YOY, with a 5 per cent boost coming from the Chevrolet brand. The increased was due in part to a strong mix of Silverado sales, and to a 10 per cent increase from the Traverse. The redesigned Buick Enclave was up 6 per cent.
Fiat Chrysler fell 1 per cent in March, with the RAM brand declining 3 per cent and Jeep remaining flat. However, the Wrangler JL is gaining momentum which has helped the Wrangler’s pricing grow 4 per cent, and Dodge experienced its strongest month with a 2 per cent improvement.
