New Car Prices Rise 3.1% in June

The average transaction price for a light vehicle in the U.S. in June was $37,285, according to a Kelley Blue Book announcement.

This price represented a $1,131 increase from the same time last year, and a $67 dollar decline from May 2019.

"Transaction price growth accelerated in June, climbing 3% as demand for trucks and SUVs pushed sales and prices up in those segments," said Tim Fleming, analyst for KBB. "Light trucks and SUVs are expected to account for 71% of sales in June up from 68% a year ago.

Overall, SUV prices increased 4% while truck prices increased 3%, Fleming added. Cars, which lost market share during the month on a year-over-year basis, saw flat prices.

Luxury and mainstream midsize SUVs showed the most strength during the month. One thing to note about the luxury segment is that while it is performing well among within the new-vehicle market, it has been struggling for most of the year in the wholesale market.

Looking at individual manufacturers, Fiat Chrysler and Subaru experienced the highest price gains year-over-year, at 6.9% and 4.4%, respectively.

RAM and Jeep provided most of the lift to prices for FCA during the month.