Average New-Car Prices Up 2% Year-Over-Year for August 2019

Sep 5, 2019

The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,401 in August 2019New-vehicle prices increased $723 (up 2%) from August 2018, while decreasing $54 (down 0.1%) from last month.

“Although new-vehicle pricing growth has been strong this year, we’ve also seen greater incentives to offset rising monthly payments and move slower selling new-car inventories,” said Tim Fleming, analyst for Kelley Blue Book. “The ratio of incentives to average transaction prices has been above 10% this summer after being under that mark for the previous eight months, and August looks to be no different with numerous Labor Day incentive programs being run by manufacturers. If sales do not respond accordingly, we could see this trend continue for the remainder of the year.”

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