Average New-Vehicle Prices Rise More Than $2,000 from Last Year, Hitting All-Time Record High for May

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IRVINE, Calif., June 22, 2021 /PRNewswire/ — The estimated average transaction price for a light vehicle in the United States was $41,263 in May 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,125 (up 5.4%) from May 2020, while increasing $493 (up 1.2%) from April 2021.  

“Last month’s average transaction price performance highlights an all-time high in year-over-year growth for the month of May,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “Many manufacturers reported year-over-year gains in average transaction prices. The largest increase came from Mitsubishi, up 12% from this time last year.”

As one of the most affordable manufacturers with the lowest average transaction price in May Mitsubishi reported recovery…