(February 1, 2017) IRVINE, Calif. — The analysts at Kelley Blue Book kbb.com today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,968 in January. New-car prices have increased by $1,123 (up 3.3 percent) from January 2016, while falling $453 (down 1.3 percent) from last month.

"Industry transaction prices remain at high levels, rising more than 3 percent this month," said Tim Fleming, analyst for Kelley Blue Book.

"The changing mix of sales in favor of utility vehicles is the primary driver for the year-over-year strength, as average prices in SUV segments climbed modestly, while the prices of subcompact SUVs declined. Demand for subcompact SUVs, one of the hottest segments in 2016, appears to be slowing down, although new models from Ford, Nissan and Toyota could help spark interest in the segment."

The Detroit Three continue to perform well with some of the greatest year-over-year increases. In particular, General Motors climbed 4 percent in January, as all of its brands reported increases in transaction prices. Cadillac had the greatest gain at 7 percent, thanks to the new CT6 sedan and XT5 crossover. Chevrolet rose 3 percent, with the new generation Camaro showing the most improvement, up 10 percent year-over-year. GMC increased 5 percent on a strong mix of its full-size SUVs, the Yukon and Yukon XL.

Nissan North America also continues to make average transaction price gains, up 5 percent for January 2017. A sales mix in favor of SUVs and trucks is partially responsible, as well as the new Armada SUV, which rose 18 percent. The new Titan also is performing well, up 9 percent. Infiniti climbed 2 percent with help from the Q50 (up 9 percent) and its new lineup of engines, including the 400 horsepower Red Sport trim.