The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,530 in June 2020. New-vehicle prices increased $1,141 (up 3.1%) from June 2019, while rising $160 (up 0.4%) from last month.
“Though Q2 sales are expected to be down 35% due to COVID-19 and the ensuing economic recession, transaction prices over this time strengthened more than normal,” said Tim Fleming, analyst for Kelley Blue Book. “The industry average climbed 3%– helped by increases in non-luxury cars—and light truck sales mix at around 75% of the total market. Today’s new-car buyers are likely more financially secure despite the economic uncertainty, and they are purchasing a disproportionate number of trucks and SUVs. However, buyers are still shying away from luxury brands, which saw prices dip 1.5%.”