The analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,149 in January 2019. New-vehicle prices increased $1,481 (up 4.2 percent) from January 2018, while decreasing $643 (down 1.7 percent) from last month.
“There are several factors contributing to strong average transaction prices, which climbed 4 percent year-over-year,” said Tim Fleming, analyst for Kelley Blue Book. “First, Tesla has approached BMW and Mercedes-Benz U.S. sales numbers in recent months with even stronger transaction prices. Also, full-size trucks are more popular than they have been for over a decade, and the new Chevrolet Silverado, GMC Sierra and Ram 1500 pickups helped drive prices up.”
The shift away from passenger cars also is ongoing, and these buyers are either moving up to small utility segments or looking at used vehicles instead. While Cox Automotive expects new-car sales to slow in 2019, the good news for the industry is transaction prices remain strong without help from huge incentives.