Average New-Car Prices Up 3 Percent Year-Over-Year; Tesla Now Driving Industry Numbers in Meaningful Way According to Kelley Blue Book

Nov 1, 2018

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The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $37,007 in October 2018. New-vehicle prices increased by $1,118 (up 3.1 percent) from October 2017, while remaining flat (down 0.2 percent) from last month.

“October was a strong month for transaction prices, as the new-car average rose 3 percent,” said Tim Fleming, analyst for Kelley Blue Book. “However, much of the growth was aligned to higher priced vehicles like full-size trucks and SUVs. In addition, Tesla is now driving the industry numbers up in a meaningful way, as the brand’s sales volume recently soared to the level of top luxury automakers. All segments in the $20,000 to $30,000 price range also showed little-to-no growth, which could be cause for concern considering these segments make up nearly half of the industry’s sales totals.”

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