New-Car Transaction Prices Rise Nearly 2 Percent In November 2014, According To Kelley Blue Book

Strength Driven by Truck, Utility Segments; Domestic Automakers Benefit Most

IRVINE, Calif., Dec. 2, 2014 /PRNewswire/ -- The 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 (ATP) for light vehicles in the United States was $33,754 in November 2014.  New-car prices have increased by $165 (up 1.7 percent) from November 2013, while rising $568 (0.5 percent) from last month. 

"Rising transaction prices are a reflection of stronger pricing in truck and utility segments," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "Domestic automakers will be the main beneficiaries of this trend, as full-size pickup prices are up by an average of 4.3 percent, with the Big Three making up 94 percent of segment sales."

Fiat Chrysler transaction pricing was up 3.4 percent on strong Jeep and RAM sales, as well as higher RAM prices.  The RAM brand was up 4.7 percent, while the Chrysler 200 helped elevate the Chrysler brand with a 10.2 percent increase.  Ford continued making gains with a higher mix of high-end trims of the outgoing F-Series generation.  In addition, the refreshed Expedition increased 7.8 percent.   

"General Motors also increased 3.4 percent on the Chevrolet and GMC lineup of SUVs and trucks," said Tim Fleming, analyst for Kelley Blue Book.  "General Motors' redesigned utility vehicles, including the Chevrolet Suburban, Tahoe, GMC Yukon, Yukon XL and Cadillac Escalade, all reported double-digit transaction price growth compared to this time last year."

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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 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 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 Cox Automotive company.

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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