(July 2, 2020) 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 $38,530 in June 2020. New-vehicle prices increased $1,141 (up 3.1%) from June 2019, while rising $160 (up 0.4%) from last month.  

"Though Q2 sales are expected to be down 35% due to COVID-19 and the ensuing economic recession, transaction prices over this time strengthened more than normal," said Tim Fleming, analyst for Kelley Blue Book.

"The industry average climbed 3%  — helped by increases in non-luxury cars — and light truck sales mix at around 75% of the total market. Today's new-car buyers are likely more financially secure despite the economic uncertainty, and they are purchasing a disproportionate number of trucks and SUVs. However, buyers are still shying away from luxury brands, which saw prices dip 1.5%."

Supply and inventory challenges remain a concern across many parts of the country and in high-demand segments, due to factory shutdowns this past spring, and slow supply chain ramp-ups since. Along with a recent resurgence in used-car values, this will likely keep prices elevated during the summer months.



Nissan North America continued its strong run with June average transaction figures up 8%. Nissan's cars actually rose the most, with the redesigned Versa (up 15%) and Sentra (up 7%) being the main drivers despite all the attention on trucks and SUVs. Even the Frontier benefitted from the rising tide lifting all trucks, up more than 4% and selling close to $30,000 on average. Nissan's top seller, Rogue, also managed a 1.5% gain as it enters it sell down months, scheduled to be replaced by a new generation later this year.

Cars continued their comeback, showing improvements of all body styles and averaging 3% gains. Compact cars led the way with nearly 4% increases, thanks in part to the new Sentra. Mid-size SUVs had the biggest jump of any segment, rising 6% on the redesigned Ford Explorer (up 12%), Jeep Wrangler (up 5%), and the all-new Hyundai Palisade, which sells for $42,516 on average, $2,000 higher than the segment average.

Lastly, the mix of SUVs and trucks is still pushing the average new-vehicle price up, with June's light truck mix expected to be around 76%, up from 71% one year ago.