The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,259 in October 2019. New-vehicle prices increased $1,064 (up 2.9%) from October 2018, while decreasing $141 (down 0.4%) from last month.
“Average transaction prices were generally favorable for most automakers, as the industry average climbed 3% year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs,” said Tim Fleming, analyst for Kelley Blue Book. “However, car prices did grow by 2% in October 2019, their biggest improvement in nearly a year.”
Manufacturers are focusing incentive programs on the increasingly competitive utility segments, helping make those vehicles more affordable to consumers. Trucks have shown the most strength of any segment with full-size trucks up 3%, while mid-size trucks rose 6%, aided by new and redesigned models.