New-Car Transaction Prices Continue To Set Records In February 2016, Up 2.2 Percent, According To Kelley Blue Book

Increased Incentives Offset Growth; Utility, Truck Models Help Drive Automaker Strength

IRVINE, Calif., March 1, 2016 /PRNewswire/ -- The analysts at Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry, today report the estimated average transaction price (ATP) for light vehicles in the United States was $33,781 in February 2016.  New-car prices have increased by $739 (up 2.2 percent) from February 2015, while remaining flat from last month. 

"Increased incentives are helping offset part of this growth, as incentive spend is nearing pre-recession levels in recent months," said Tim Fleming, analyst for Kelley Blue Book. "Low gas prices are attracting consumers toward pickup trucks, with average transaction up a combined 6 percent for the segment. The same growth has not been seen in traditional car segments like compact and mid-size cars, which are both up 0.5 percent, or around $100."

Toyota Motor Company, Fiat Chrysler, General Motors and Ford Motor Company continue to climb most among the major manufacturers with help primarily from their utility and truck models. In addition, American Honda is up slightly at 0.5 percent with several restyled models showing strength. The all-new Honda Civic drove average transaction prices up 5.5 percent to $20,782, while the Honda Pilot increased 16.2 percent to $38,238. 

Hyundai-Kia transaction prices decreased 1.1 percent in February, with the Hyundai brand dropping 1.6 percent as dealers sold down the outgoing Elantra model.  The redesigned Tucson had the best month for the brand, increasing 11.7 percent to $27,802.       

To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to book an interview.

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 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 Values and Fair Purchase Price, which reports what others are paying for new and used 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 2015 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for four consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.

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

SOURCE Kelley Blue Book

For further information: Chintan Talati, 949-267-4855, chintan.talati@kbb.com, Joanna Pinkham, 404-568-7135, joanna.pinkham@kbb.com, Brenna Robinson, 949-267-4781, brenna.robinson@kbb.com, Michelle Behar, 949-268-4259, michelle.behar@kbb.com