Kelley Blue Book’s experts name the 2020 model-year brand and category winners of the ninth annual 5-Year Cost to Own Awards.
The estimated average transaction price for light vehicles in November was $34,948, a 1.7% increase from a year ago, according to Kelley Blue Book. An analyst with the firm attributed the increase to a shift in consumer preference from cars to more expensive trucks and SUVs.
Kelley Blue Book announced the winners of its 2017 Best Buy Awards. The big winner was Honda. Not only did it take home four awards, its 2017 Honda Civic was named the Overall Best Buy of 2017.
The estimated average transaction price for a light vehicle in the U.S. in October was $34,663, a 2.3% increase over the same time last year. Fiat Chrysler registered the biggest gain in average transaction price, followed by Nissan and Ford.
U.S. consumers paid, on average, $34,372 for a new light vehicle in September, up 2.5% from a year ago but down 0.2% from August, KBB reported this week.
For the third year in a row, the Honda Fit ranked No. 1 on Kelley Blue Book’s list of 10 Best Back-to-School Cars. Honda also claimed the third- and fourth-place spots with its Civic and HR-V models, respectively.
The average transaction price in July was $34,264, a 2.5% increase from the year-ago period, according to Kelley Blue Book. The firm noted that transaction prices were up for all manufactures, with the exception of Nissan.
As digital retailing becomes more and more prolific, Kelley Blue Book Analyst Alec Gutierrez suspects that profits will continue shifting away from the sale of the car and into the F&I office.
Fueled by domestic brands and the sale of trucks and SUVs, the average price for a new vehicle in June increased 2% from a year to $33,652, according to Kelley Blue Book.
Kelley Blue Book expects June new-vehicle sales to increase 5% from a year ago to 1.55 million units. This predicted increase should result in an estimated 17.1 million seasonally adjusted annual rate (SAAR).
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