Average new vehicle prices in the United States were up 1.3% year-over-year ($499) in November and down 1.2% ($480) from the previous month, according to Kelley Blue Book.
The estimated average transaction price for a light vehicle in the U.S. during this period was $39,259.
“COVID-19 began its second surge with cases on the rise this past month and right before for the holiday season,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “Consumer confidence has been faltering and unemployment remains stubbornly high.”
However, Reynolds also said consumers shopping for new vehicles appear willing to pay premium prices.
“While average transaction prices are down from last month, they remain historically elevated, with November forecasted to be the third-highest month on record,” said Reynolds.
Fiat Chrysler, Hyundai Kia, and Subaru were the only automakers with both month-over-month and YOY gains — with FCA reporting the largest YOY increase, at 6%.
Nissan North America and Volkswagen Group were both down from the previous month, and this time last year.
As for vehicle segments, vans demonstrated the largest YOY increases, up 9.57%, followed by the full-size car and full-size pickup segments with more than 7% YOY.
