U.S. New Car Transaction Prices Continue Slow Rise

The average transaction price for new light vehicles in the United States was $31,657 in August 2013, an increase of $221 or +0.7% year-over-year.

“Chrysler and Honda continue to strengthen their transaction prices from this time last year with strong redesigns among some of their popular models, including RAM 1500, Jeep Grand Cherokee and Honda Accord,” said Karl Brauer, senior analyst for Kelley Blue Book, the source of the data.

Volkswagen has experienced significant drops in transaction prices. The Jetta, Passat and Golf are among the most discounted models, and car shoppers in one sense are benefitting from the brand’s momentary lack of new product. During August VW brand U.S. sales decreased 1.6% in an industry that was up 17%.

Honda, Nissan, and Toyota led all automakers with double-digit August sales gains here. Leasing was also up, comprising 27% of all sales in Q2 compared to 24% during the same period last year. Overall, offshore brand sales in the U.S. rose to 843,588 vehicles, up from 750,254 last month and well above 703,611 a year ago.(Read AutoInformed on Asian Brands Dominate U.S. August Sales)

“Consumers are spending top dollar for some of the latest and greatest models, while other brands are forced to cut prices in order to move vehicles off dealership lots Brauer said.”

ManufacturerAverage
Aug. ‘13
July ‘13
Aug. ‘12  
% July ‘13 to Aug ‘13
% Aug. ‘12 to Aug. ‘13
Chrysler Group – Chrysler, Dodge, Jeep, Ram, Fiat
$32,447
$32,271
$31,217
0.8%
3.9%
Ford, Lincoln
$34,455
$34,256
$33,954
0.1%
1.5%
GM – Buick, Cadillac, Chevrolet, GMC
$34,527
$34,738
$34,291
-0.5%
0.7%
American Honda Acura,
$27,507
$27,689
$26,847
-0.1%
2.5%
Hyundai/Kia
$23,750
$23,573
$23,392
0.8%
1.5%
Nissan, Infiniti
$28,170
$27,931
$27,981
1.0%
0.7%
Toyota, Lexus, Scion
$29,191
$29,010
$28,953
0.0%
0.8%
Volkswagen, Audi
$30,239
$31,512
$32,554
-2.4%
-7.1%
Industry
$31,657
$31,795
$31,436
-0.4%
0.7%

About Ken Zino

Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
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