Pickup Trucks Drive Average Transaction Prices
Prices in both full-size and mid-size truck segments were up 4%, and it is shaping up to be a pivotal time for pickups.
General Motors also was up 4% year-over-year, with the Chevrolet brand rising the most at 5%. Chevrolet's increase came on a strong mix of Silverado sales (Silverado 6500HD pictured).
Photo courtesy of General Motors
The analysts at Kelley Blue Book reported the estimated average transaction price for light vehicles in the United States was $35,635 in May 2018. New-vehicle prices increased by $1,187 (up 3.4%) from May 2017, while falling $145 (down 0.4%) from last month.
"Average transaction prices rose a healthy 3 percent this month and remain strong even as new-vehicle demand is expected to falter in 2018," said Tim Fleming, analyst for Kelley Blue Book. "It's no surprise prices were helped by SUV demand, but pickup trucks played a big role in May's increases as well. Prices in both full-size and mid-size truck segments were up 4%, and it is shaping up to be a pivotal time for pickups with the new Ram truck now on the market, a new Chevrolet Silverado coming later in the year, and the Ford Ranger returning to the U.S. early next year."
Ford Motor Company is among the automakers benefitting from strong utility and pickup truck lineups. Ford Motor Company average transaction prices grew nearly 5% in May 2018, as both brands put up solid numbers. Lincoln's average transaction prices are up 14%, due to the new Navigator, which jumped 32% from this time last year. For the Ford brand, the new Expedition increased 15%. A strong mix of F-Series sales also helped Ford, as the brand climbed 4%.
General Motors also was up 4% year-over-year, with the Chevrolet brand rising the most at 5%. Chevrolet's increase came on a strong mix of Silverado sales.
SEGMENT | May 2018 Avg. Transaction Price | April 2018 Avg. Transaction Price | May 2017 Avg. Transaction Price | Percent Change April 2018-May 2018 | Percent Change April 2017-May 2017 |
|---|---|---|---|---|---|
Compact Car | $20,528 | $20,516 | $20,548 | 0.10% | -0.10% |
Compact SUV/Crossover | $28,459 | $28,624 | $28,140 | -0.60% | 1.10% |
Electric Vehicle | $36,539 | $36,820 | $37,840 | -0.80% | -3.40% |
Entry-level Luxury Car | $42,144 | $42,147 | $42,186 | 0.00% | -0.10% |
Full-size Car | $34,356 | $34,406 | $34,461 | -0.10% | -0.30% |
Full-size Pickup Truck | $48,213 | $47,653 | $46,459 | 1.20% | 3.80% |
Full-size SUV/Crossover | $63,349 | $63,038 | $60,515 | 0.50% | 4.70% |
High Performance Car | $98,422 | $101,606 | $92,250 | -3.10% | 6.70% |
High-end Luxury Car | $98,584 | $97,830 | $99,084 | 0.80% | -0.50% |
Hybrid/Alternative Energy Car | $26,614 | $26,673 | $26,494 | -0.20% | 0.50% |
Luxury Car | $59,420 | $59,267 | $57,511 | 0.30% | 3.30% |
Luxury Compact SUV/Crossover | $44,662 | $44,902 | $42,825 | -0.50% | 4.30% |
Luxury Full-size SUV/Crossover | $89,426 | $89,539 | $82,354 | -0.10% | 8.60% |
Luxury Mid-size SUV/Crossover | $55,968 | $56,222 | $55,308 | -0.50% | 1.20% |
Mid-size Car | $25,791 | $25,881 | $25,151 | -0.30% | 2.50% |
Mid-size Pickup Truck | $33,177 | $33,284 | $32,039 | -0.30% | 3.60% |
Mid-size SUV/Crossover | $38,175 | $38,072 | $37,748 | 0.30% | 1.10% |
Minivan | $34,588 | $34,459 | $33,715 | 0.40% | 2.60% |
Sports Car | $31,670 | $31,629 | $31,186 | 0.10% | 1.60% |
Subcompact Car | $15,152 | $15,224 | $15,225 | -0.50% | -0.50% |
Subcompact SUV/Crossover | $24,281 | $24,439 | $24,224 | -0.60% | 0.20% |
Van | $35,148 | $34,938 | $35,510 | 0.60% | -1.00% |
Grand Total | $35,635 | $35,780 | $34,448 | -0.40% | 3.40% |
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