Pickup Trucks Lead Vehicle Price Increases

The analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the U.S. was $36,590 in February. New-vehicle prices increased $993 (up 2.8%) from February 2018, while decreasing $205 (down 0.5%) from last month.   

"New-vehicle transaction prices climbed nearly 3% 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%. Looking at mid-size trucks, the segment was only up 1% 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's average prices were up more than 5%. Ford's strength was led by the refreshed Edge and F-Series also saw prices rise as the Super Duty trucks captured a larger share of sales, according to KBB. 

General Motors was flat year-over-year, with only the GMC brand posting an increase. GMC climbed 2% largely on the redesigned 2019 Sierra 1500 pickup, which was up 6%. Buick fell 3%.