The estimated average transaction price for a new vehicle in the U.S. was $35,444 in February, 0.3% lower than in January, Kelley Blue Book has announced.
Although February prices tumbled slightly on a month-over-month basis, year-over-year, prices were up. Compared to February 2017, new-vehicle transaction prices climbed 2.1%, KBB data shows.
The Volkswagen Group, General Motors, and Toyota Motor Company are three of the OEMs that experienced the highest rise in average transaction price. Respectively, the three OEMs saw average transaction prices rise 7.1%, 3.5%, and 3.4%.
Looking at the data, the Volkswagen Group was the clear leader in terms of year-over-year growth, with nearly double the growth in average transaction price. All of the brands within the group — Audi, Volkswagen, and Porsche — saw healthy average transaction price growth, according to KBB.
The Volkswagen brand saw average transaction prices grow 8%, Porsche also saw 8% growth, and Audi prices rose 4%. Not surprisingly — given the continued strength of the crossover/SUV market — the crossover/SUV offerings from those brands drove much of their reported growth.
Volkswagen’s new Atlas SUV, Porsche’s redesigned Panamera, and Audi’s Q5, all saw strong gains in average transaction price, according to KBB.