(August 1, 2019) IRVINE, Calif. — The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,169 in July. New-vehicle prices increased $1,246 (up 3.5%) from July 2018, while decreasing $312 (down 0.8%) from last month. 

"While July is expected to come in below a 17-million SAAR pace, the industry average transaction price continued its steady rise, up 3% year over year," said Tim Fleming, analyst for Kelley Blue Book.

"Trucks were the big story in July as new mid-size and full-size offerings helped to drive truck prices up about 3% while contributing to sales growth in this down market. With the new 1500 trucks from RAM and GM that came out last year, full-size truck prices have now eclipsed the $50,000 mark, and new heavy-duty trucks from these manufacturers this year will push those numbers up even more."

American Honda was down slightly in July, as Acura prices fell 2% while Honda stayed flat. Most Acura models saw declines for the month, while Honda was brought down by the Accord sedan, which fell 1%. The refreshed HR-V had a good month as it climbed 4%.

General Motors was up 3% for the month, as the Chevrolet brand saw the biggest gain at 4%. Chevrolet was helped by a very strong mix of trucks and SUVs, which should amount to more than an 80% sales mix in July. GMC also saw a slight increase in July, largely due to the Sierra and its 3% gain.

Volkswagen Group's transaction prices rose by 6%, with Audi up an impressive 13% from last year. Audi was buoyed by its redesigned A6 and A8 sedans, as well as the recently debuted Q8 and e-tron SUVs. The Volkswagen brand climbed 2%, helped by the Tiguan (up 5%) and the Jetta (up 3%), as well as a sales mix more geared toward SUVs.