The average price paid for new vehicles jumped in January, reflecting the types of vehicles…
The average price paid for new vehicles jumped in January, reflecting the types of vehicles people are buying these days, Kelley Blue Book reports.
According to KBB, the estimated average transaction price (ATP) for light vehicles in the United States was $36,270 in January 2018.
New-car prices have increased by $1,360 (up 3.9 percent) from January 2017, while dropping $486 (down 1.3 percent) from last month.
“January was a strong month for transaction prices, rising nearly 4 percent on average,” said Tim Fleming, analyst for Kelley Blue Book.
Fleming added, “The shifting sales mix to trucks and SUVs has been particularly extreme lately, and as volume shifts away from cars, the average vehicle price ticks up.”
However, there was a glimmer of hope in the mid-size car segment, Fleming noted.
Prices in this segment rose 3 percent in January, thanks to the newest generations of the Toyota Camry and Honda Accord.
“These well-received new models, along with the redesign of the Nissan Altima due later this year, will test how much demand still exists for sedans,” Fleming said.
Still, the trend lately has been all about SUVs and trucks.