New-Car Transaction Prices Climb More Than 1 Percent In April 2014, According To Kelley Blue Book

Toyota Motor Company Shows Greatest Year-Over-Year Strength; Chrysler Group Rises on Increased Mix of Jeep, RAM Sales from 2013

IRVINE, Calif., May 1, 2014 /PRNewswire/ -- With the spring selling season underway, the expert analysts at Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price for light vehicles in the United States was $32,141 in April 2014.  New-car prices have increased by $389 (up 1.2 percent) from April 2013, while decreasing $47 (0.1 percent) from last month. 

"Continuing their slow and steady increase, transaction prices are on the rise, but in conjunction with incentive spend, which forces them to offset one another," said Karl Brauer, senior analyst for Kelley Blue Book.  "Aided by the new high-volume Corolla, Toyota is showing the greatest year-over-year gains, up 4 percent from this time last year.  The Highlander is another strong performer, up 6.1 percent from 2013, in addition to the strength of the Tacoma and redesigned Tundra."

"Among the domestic manufacturers, Chrysler's gains are due to an increased mix of Jeep and RAM sales from last year," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "This month's transaction prices increased for all Chrysler brands except Jeep, which was down due to a lower mix of the Grand Cherokee, on the introduction of the hot-selling Cherokee."

New GM truck models continue to demand higher prices, as the Silverado and Sierra climbed more than 6 percent each.  Cadillac is the only GM brand on the decline, which is driven by its ATS and XTS models.  In addition, the mix of Escalade sales is down as they prepare to launch the redesigned 2015 model, which is bringing down Cadillac's overall average transaction price.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.

About Kelley Blue Book (www.kbb.com)

Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In and Suggested Retail Values, and Fair Purchase Price, which reports what others are paying for new cars this week.  The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies.  Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2014 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for three consecutive years.  Kelley Blue Book Co., Inc. is a subsidiary of AutoTrader Group, which includes AutoTrader.com, vAuto, VinSolutions and HomeNet Automotive.  AutoTrader Group is a subsidiary of Cox Enterprises.

Logo - http://photos.prnewswire.com/prnh/20121108/LA08161LOGO

SOURCE Kelley Blue Book

For further information: Chintan Talati, 949-267-4855, ctalati@kbb.com, or Joanna Pinkham, 404-568-7135, jpinkham@kbb.com, or Brenna Robinson, 949-267-4781, berobinson@kbb.com, or Natalie Kumaratne, 949-267-4770, nkumaratne@kbb.com