(August 2, 2016) IRVINE, Calif. —.The analysts at Kelley Blue Book kbb.com today report the estimated average transaction price (ATP) for light vehicles in the United States was $34,264 in July. New-car prices have increased by $832 (up 2.5 percent) from July 2015, while rising $82 (up 0.2 percent) from last month.

"Low interest rates, longer loan terms and increased leasing are helping consumers afford their monthly payments, which would be upwards of $550 per month on a traditional 60-month term," said Tim Fleming, analyst for Kelley Blue Book.

As the price gap to late-model used cars increases, more shoppers may turn to the pre-owned market for their next vehicle, which could mark a big departure from the new-car sales growth the industry has seen during the past five years."

While the domestic automakers continue their upward climb in average transaction prices, Toyota also reported a more than 2 percent increase year-over-year. The Toyota brand rose 3 percent with the Tacoma leading the way on a 12 percent improvement in transaction prices. The refreshed RAV4 also was up at 7 percent, while Lexus gained 2 percent from this time last year with help from the RX transaction prices increasing 6 percent to $49,890.

The only automaker down year-over-year is Nissan North America, which fell nearly 1 percent, though the Infiniti brand rose 4 percent on a higher mix of SUV sales. A bright spot for Nissan is the Titan XD pickup, which helped push the model's average prices up 34 percent, but remains a low volume player as less than 1 percent of Nissan sales.