The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $36,733 in March 2019. New-vehicle prices increased $824 (up 2.3 percent) from March 2018, while decreasing $174 (down 0.5 percent) from last month.
“Prices climbed more than 2 percent year-over-year in March, led by full-size trucks, where half of the models are new,” said Tim Fleming, analyst for Kelley Blue Book. “While a 2 percent increase doesn’t sound like much, factoring in higher interest rates this year and tighter incentives means average monthly payments are up about $30 from a year ago – an increase closer to 6 percent. This sharp increase is likely contributing to the slower sales pace in the first quarter. We will have to see if automakers respond with greater incentives later in the year, if sluggish sales continue.”