New-Car Transaction Prices Up Nearly One Percent Month-Over-Month, According To Kelley Blue Book

Ford Prices Hold Steady with Strength in Hybrid, Electric Models; Toyota up Across All Brands Year-Over-Year

IRVINE, Calif., Jan. 3, 2014 /PRNewswire/ -- New-car transaction prices increased an average of $197month-over-month in December 2013.  The estimated average transaction price for light vehicles in the United States was $32,890, up 0.6 percent from last month and down $159 (0.5 percent) year-over-year, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information.

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"Along with solid new-car sales, average transaction prices on new vehicles continue to strengthen this year," said Alec Gutierrez, senior analyst for Kelley Blue Book.  "Honda average transaction prices remain flat from last month, but are up a respectable 2.5 percent year-over-year with strong Acura prices (up 10.8 percent year-over-year), primarily due to the new MDX.  Chrysler also revealed a solid increase year-over-year, thanks to better performance from its Jeep lineup.  Jeep alone was up 2.5 percent year-over-year on the Grand Cherokee and Wrangler, while the Chrysler brand climbed 2.2 percent from this time last year due to a lower mix of its 200 model."

General Motors average transaction prices saw little change year-over-year; however, the Buick brand was down 4.9 percent due to the introduction of the smaller, more budget-friendly Encore.  In addition, GMC was up 4.4 percent to an average transaction price of $42,370 on the redesigned Sierra, followed by Cadillac (up 1.4 percent), while Chevrolet remained largely flat. 

"Among the domestics, Ford prices were down year-over-year across much of its portfolio, including the F-150 (down 1.3 percent), the Escape (down 1.7 percent) and Focus (down 2.6 percent)," said Karl Brauer, senior analyst for Kelley Blue Book.  "Interestingly, Ford hybrid cars were up 1.5 percent and electric vehicles increased 1 percent.  Lincoln was mostly flat from December 2012, due in large part to the new MKZ, which was up 11 percent."

Toyota prices were up from this time last year across all brands, with Lexus increasing 4.4 percent, followed by Scion at 2.4 percent and Toyota at 2.2 percent.  Lexus' new IS was up 7.9 percent year-over-year to $42,405, while Toyota's new Corolla rose 6.3 percent to $19,527. 

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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 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.  For two years running, Kelley Blue Book's KBB.com ranked highest in its category for brand equity and was named Online Auto Shopping Brand of the Year in the 2012 and 2013 Harris Poll EquiTrend^® study.  Kelley Blue Book Co., Inc. is a subsidiary of AutoTrader Group, which includes AutoTrader.com, vAuto, VinSolutions and HomeNet Automotive.  AutoTrader Group is a majority-owned subsidiary of Cox Enterprises.

SOURCE Kelley Blue Book

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