Average New-Car Prices Up 3% Year-Over-Year for June 2019
Average New-Car Prices Up 3% Year-Over-Year for June 2019
The valuation analysts at Kelley Blue Book recently reported the estimated average transaction price for a light vehicle in the United States was $37,285 in June 2019. New-vehicle prices increased $1,131 (up 3.1%) from June 2018, while decreasing $67 (down 0.2%) from last month.
“Transaction price growth accelerated in June, climbing 3% as demand for trucks and SUVs pushed sales and prices up in those segments. Light trucks and SUVs are expected to account for about 71% of sales in June, up from 68% a year ago,” said Tim Fleming, analyst for Kelley Blue Book.
“Overall, SUV prices were up 4% and trucks rose 3%, while car prices were flat (and still lost market share). Luxury and mainstream mid-size SUVs are showing the most strength right now, with brand new models such as the BMW X7 and Kia Telluride driving incremental sales and price growth for their brands.”
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