The average price for an auto in the U.S. for the month of November rose only .7 percent over last year, and according to Kelley Blue Book, that increase is largely owed to truck and SUV sales.Pickup and SUV sales are still driving auto prices overall, according to a recent report by Kelley Blue Book.
On average, new vehicle prices increased only .7 percent during this past November when compared to sale prices in November 2014. That’s an overall drop from where KBB analysts say prices have been trending.
Pickup truck and SUV prices, however, enjoyed nice gains and are largely responsible for increasing the estimated average transaction price (ATP) of a U.S. vehicle to $33,801, which is $231 greater than the average November 2014 sale price.
“Trucks and SUVs remain the primary drivers behind this strength in transaction prices,” said Karl Brauer, senior analyst for Kelley Blue Book. “While average transaction prices are up again in November, the rate of growth was modest at less than 1 percent, which stands in contrast to the 2 to 3 percent increases seen so far this year.”
Fiat Chrysler reports one of the highest average transaction price increases at 3.8 percent year-over-year, helped by the Dodge and Ram brands, which are each up nearly 8 percent from November 2014.
“At the segment level, full-size pickup trucks had a great month, up 6 percent, with increases across all major models,” said Tim Fleming, analyst for Kelley Blue Book. “The Toyota Tundra had the largest increase at roughly 10 percent, boosted by its top-tier 1794 edition.”
