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Average New-Vehicle Prices Up 2% Year-Over-Year in April 2020, Helped by Available Incentive Offers from Automakers and Finance Companies, A

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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 $38,060 in April 2020New-vehicle prices increased $763 (up 2.0%) from April 2019, while prices dropped $102 (down 0.3%) from last month.

“Although auto sales are expected to drop more than 50% in April, average transaction prices held steady from the earlier months of the year and rose by 2% year-over-year, likely helped by the abundant incentive offers enacted by automakers and finance companies in March of this year,” said Tim Fleming, analyst for Kelley Blue Book. “We observed a bit of a shift in the data this month as more price conscious segments increased more than normal. Car segments that were flat earlier this year showed increases across the board in April. At the same time, luxury segments took a dive, down nearly $1,500 from this time last year, as buyers shied away from these fast-depreciating models.”

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