Average new-car prices jump 2 percent in March year over year

(April 3, 2018) IRVINE, Calif. — The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,285 in March. New-vehicle prices have increased by $703 (up 2 percent) from March 2017, while falling $23 (down 0.1 percent) from last month.  

"Most automaker transaction prices increased in March 2018 as the industry average rose 2 percent," 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."

General Motors was up 4 percent year-over-year, with Chevrolet rising the most at 5 percent. Chevrolet's jump is based on a strong mix of Silverado sales, and also the redesigned Traverse posted a 10 percent increase. Similarly, the redesigned Buick Enclave rose 6 percent. Buick also climbed 3 percent with help from the new Regal Sportback and Regal TourX, up 6 percent from the previous generation Regal.

On the other hand, Fiat Chrysler's average transaction prices fell 1 percent in March 2018, with Dodge reporting the strongest month with 2 percent improvement. The RAM brand fell 3 percent due to the sell down of the 2018 RAM pickup, while the next generation of RAM trucks is just now reaching dealerships.

Jeep was flat, but the new Wrangler JL is gaining momentum and helped the Wrangler's pricing grow 4 percent.