It’s downright ridiculous how expensive new vehicles have become. Here’s proof: the analysts at Kelley…
It’s downright ridiculous how expensive new vehicles have become. Here’s proof: the analysts at Kelley Blue Book report the estimated average transaction price for a light vehicle in the United States was a whopping $36,590 in February 2019.
New-vehicle prices increased $993 (up 2.8 percent) from February 2018, while decreasing $205 (down 0.5 percent) from last month.
“New-vehicle transaction prices climbed nearly 3 percent in February, led by the strength in full-size pickup trucks,” said Tim Fleming, analyst for Kelley Blue Book. “New pickups from General Motors and RAM are setting the pace for the segment, and every full-size pickup truck had year-over-year growth greater than 4 percent. Looking at midsize trucks, the segment was only up 1 percent for the month, but it is set for a similar revival with the new Ford Ranger hitting the market right now and the Jeep Gladiator coming soon.”
Gaining most year-over-year, Ford Motor Company’s average prices were up more than 5 percent, with both Ford and Lincoln up by 5 percent.
Ford’s strength was led by the refreshed Edge and its new ST trim, which helped pull the model’s average up 5 percent.
The F-Series also saw prices rise as the Super Duty trucks capture a larger share of sales. At Lincoln, the Nautilus rose 8 percent above the MKX it replaced, and the Navigator is still posting solid transaction prices, up 4 percent year-over year.
General Motors was flat year-over-year, with only the GMC brand posting an increase. GMC climbed 2 percent largely on the redesigned Sierra pickup, which was up 6 percent.
However, Buick fell 3 percent, as the Enclave was down 4 percent now in the second year of its generation, and the Envision dropped by 5 percent.
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