IRVINE, Calif., Dec. 1, 2020 -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $39,259 in November 2020. New-vehicle prices increased $499 (up 1.3%) from November 2019, while falling $480 (down 1.2%) from last month.
"COVID-19 began its second surge with cases on the rise this past month and right before for the holiday season," said Kayla Reynolds, industry intelligence analyst at Cox Automotive. "Consumer confidence has been faltering and unemployment remains stubbornly high. Still, consumers in the market for new vehicles are demonstrating an ability to pay premium prices. While average transaction prices are down from last month, they remain historically elevated, with November forecasted to be the third-highest month on record."
The only automakers with both month-over-month and year-over-year gains included Fiat Chrysler, Hyundai Kia, and Subaru, with Fiat Chrysler reporting the largest year-over-year growth at 6%. Nissan North America and Volkswagen Group were down from last month and this time last year.
At the segment level, vans reported the largest year-over-year increases, up 9.57%, with the full-size car and full-size pickup segments following behind—up more than 7% year-over-year.
About Kelley Blue Book
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.
