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Average New-Car Prices Up Less Than 1% Year Over Year for September 2019 as Retail Demand Weakens, According to Kelley Blue Book

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The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,590 in September 2019New-vehicle prices increased $262 (up 0.6%) from September 2018, while increasing $215 (up 0.7%) from last month.

“Transaction prices are still strong, but the growth has almost stalled, as retail demand is weakening,” said Tim Fleming, analyst for Kelley Blue Book. “Despite automakers pulling back their production this year, it may not be fast enough. Incentives are rising, averaging about 10.5% of average transaction prices and nearing levels from 2017 when industry sales saw their first decline since the recession. SUVs and trucks are still performing well, as recent model launches are pushing sales and average prices up. This is even better news in that these units are usually more profitable for automakers.”

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