FCA Wins, Volkswagen Loses in Average New Car Price During September
The average transaction price for a new car edged up slightly August to September from $33,563 to $33,730, researchers at Kelley Blue Book said Thursday.
Fiat Chrysler Automobiles posted the largest gain over the same month last year, as the automaker increased its average transaction price 4.1 percent to $34,809. Unsurprisingly, Volkswagen was the only major automaker to post a loss in the report, losing 1.6 percent from August to September this year, and 0.1 percent from September 2014.
Ford, General Motors and Kia/Hyundai all posted gains over 3 percent, year-over-year. Overall, the industry average for new car transaction prices rose 2 percent from September 2014 to September 2015. Toyota was the other automaker to fall below the industry average for gains. Its average transaction price increased by only 0.6 percent.
Nearly all segments of luxury cars fell over the past year, according to KBB. The average transaction price for an entry-level luxury car dipped 2.1 percent to $39,626 from September 2014, and the average transaction price for a luxury mid-size SUV dropped by nearly 4 percent to $52,228. The only luxury car segment that didn’t fall were luxury compact crossovers.
The average transaction price for a full-size pickup increased by more than 6 percent to $46,046 in September (further proving they can charge whatever they want for those things). The other big gainer for average transaction price was minivans, which increased by nearly 5 percent to $33,150.
The average price paid for a new electric car in September was $35,269, down 2.1 percent from last year. A new hybrid, on average, cost $25,462 in September, which was down 1.1 percent from last year.
According to Akshay Anand, an analyst for Kelley Blue Book, Volvo’s XC90 was the biggest gainer in the industry, by far.
“Volvo’s XC90 transaction prices have jumped an astonishing 41 percent year-over-year, which is by far the best mark for any vehicle, regardless of brand,” Anand in a statement.
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Not sure about the math on this one - how is everyone except VW and Toyota above the industry average? Were prices at smaller manufacturers like BMW and Mercedes down dramatically?
The telling thing on VW prices will be Oct and beyond, the scandal broke too late in Sep to have as big of an impact as it could in Oct. Truck prices up 6% hmm, must be because Ford is piling the discounts on the Aluminum F150, because it is "selling so poorly". It certainly can't be because buyers are flocking to the higher trim levels of the F150, Ford is being really stingy with any discounts on them and that allows GM and Chrysler to be less generous with their discounts.