New vehicle prices fall below sticker price after nearly two years, Kelley Blue Book data shows

Automobiles are shown for sale at a car dealership in Carlsbad, CaliforniaAutomobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake

  • Toyota Motor CorpFollow
  • General Motors CoFollow
  • Ford Motor CoFollow
  • Hyundai Motor CoFollow
  • Kelley Blue Book Co IncFollow

April 12 (Reuters) – New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book.

Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars.

The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. However, March prices rose 3.8% compared to a year earlier.

Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve.

"Right now, in-market consumers are finding more inventory, more choice and dealers more willing to deal, at least with some brands," said Rebecca Rydzewski, auto-industry researcher at Kelley Blue Book's parent firm Cox Automotive.

In March, the average price for a new non-luxury vehicle, which includes brands such as Chevrolet, Ford, Hyundai and Nissan, was $44,182, a decline of $505 compared with February, but buyers continued to pay above MSRP for luxury vehicles, according to the report.

  • BusinesscategoryHarley-Davidson CFO to step down, joins toymaker Hasbro, article with imageApril 12, 2023
  • Exploration & ProductioncategoryExclusive: Russia starts fuel supplies to Iran by rail -sources, article with imageApril 11, 2023
  • Autos & TransportationcategoryChina's Zeekr launches electric SUV, targets Europe, article with galleryApril 12, 2023
  • Autos & TransportationcategoryUS proposes to slash EV mileage ratings to meet fuel economy rules, article with galleryApril 11, 2023


Related posts

Boeing starts deliveries of reworked 737s, promises pricing discipline

Cynthia Danforth

American Airlines pilots authorize a strike mandate

Cynthia Danforth

Egypt seeking to push forward critical IMF deal in Washington

Cynthia Danforth

Leave a Comment