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Average new-vehicle prices hit all-time high

In June, for the first time in a decade, vehicle buyers were essentially paying sticker price — the manufacturer’s suggested retail price — for new vehicles

Irvine, Calif.—The estimated average transaction price (ATP) for a light vehicle in the United States was $42,258 in June 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,527 (up 6.4%) from June 2020, while increasing $928 (up 2.2%) from May 2021.   

“Despite unprecedented low incentives and inventory levels in June, last month showcased more historically high average transaction prices, reaching an all-new record,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “New-vehicle affordability continues to decline as the income required to purchase the average new vehicle continues to climb. In June, for the first time in a decade, vehicle buyers were essentially paying sticker price – the manufacturer’s suggested retail price – for new vehicles.”

ManufacturerJune2021Transaction Price (Avg.)*May2021Transaction Price (Avg.)*June2020 Transaction Price (Avg.)*Percent ChangeMay 2021 toJune 2021*Percent Change June2020 to June 2021*
American Honda (Acura, Honda)$33,064$32,591$30,2161.50%9.40%
BMW Group$58,838$57,879$57,1371.70%3.00%
Daimler$63,194$65,312$60,673-3.20%4.20%
Stellantis (Alfa Romeo, Chrysler, Dodge, Fiat,
Jeep, Ram)
$49,762$48,149$42,9603.30%15.80%
Ford Motor Company (Ford, Lincoln)$50,412$45,831$46,00510.00%9.60%
General Motors (Buick, Cadillac, Chevrolet, GMC)$48,700$48,555$42,7490.30%13.90%
Hyundai Kia$31,793$31,115$29,0992.20%9.30%
Mazda$31,563$30,892$29,8582.20%5.70%
Mitsubishi$26,609$25,225$22,4875.50%18.30%
Nissan North America (Nissan, INFINITI)$32,735$32,536$32,1930.60%1.70%
Subaru$35,219$33,507$31,5225.10%11.70%
Tesla Motors**$47,772$52,553$55,541-9.10%-14.00%
Toyota Motor Company (Lexus, Toyota)$38,467$37,259$36,4663.20%5.50%
Volkswagen Group (Audi, Volkswagen, Porsche)$53,188$52,170$48,7152.00%9.20%
Volvo North America$49,059$47,529$45,6593.20%7.40%
Industry$42,258$41,330$39,7312.24%6.36%
*Kelley Blue Book average transaction prices do not include applied consumer incentives**Tesla Motors did not report price numbers for two of its models (Model S and Model X). This heavily skewed the manufacturer’s average transaction price comparisons year-over-year and month-over-month.

According to Kelley Blue Book, the record-high ATP of $42,258 in June was 99.9% of the average MSRP of $42,290. For comparison, in January of this year, ATP was 95.9% of MSRP; one year ago, it was 95.4%.

Every vehicle manufacturer except Tesla—see note above—showed year-over-year growth in average transaction prices in June, with Stellantis seeing the second-largest increase (up 15.8%), just behind Mitsubishi, which climbed 18.3%. The majority of the models in Stellantis’ lineup saw increases from this time last year. The Jeep Wrangler and RAM Pickup, two of the automaker’s best-selling models, saw double-digit increases compared to June 2020. Despite inventory concerns, the RAM Pickup outsold many of its counterparts last month with a 13.8% price increase from last year.

At the segment level, non-luxury models continue to make significant gains compared to luxury models, up 7% versus 2.9% respectively. The availability and price increase of the mid-size and full-size car categories attributed to the non-luxury segment’s growth in average transaction prices. The Honda Accord saw its average transaction price increase substantially above the industry and segment average at 14%. Still, even with the substantial price increase, Honda Accord sales increased  35% compared to June 2020.

SegmentJune2021Transaction Price (Avg.)*May2021Transaction Price (Avg.)*June2020 Transaction Price (Avg.)*Percent ChangeMay 2021 toJune 2021*Percent Change June2020 to June 2021*
Compact Car$23,903$23,411$22,4662.10%6.40%
Compact SUV/Crossover$32,258$31,592$30,5942.10%5.40%
Electric Vehicle$49,766$52,732$57,480-5.60%-13.40%
Entry-level Luxury Car$47,684$47,436$44,7190.50%6.60%
Full-size Car$42,617$40,795$38,5814.50%10.50%
Full-size Pickup Truck$57,267$56,261$52,6911.80%8.70%
Full-size SUV/Crossover$68,173$68,929$63,625-1.10%7.10%
High Performance Car$103,300$101,211$114,0002.10%-9.40%
High-end Luxury Car$106,341$105,146$101,1391.10%5.10%
Hybrid/Alternative Energy Car$30,589$30,790$28,055-0.70%9.00%
Luxury Car$66,370$67,949$62,686-2.30%5.90%
Luxury Compact SUV/Crossover$49,019$48,133$46,6211.80%5.10%
Luxury Full-size SUV/Crossover$99,700$98,202$90,3751.50%10.30%
Luxury Mid-size SUV/Crossover$65,874$65,331$63,5340.80%3.70%
Luxury Subcompact SUV/Crossover$42,505$42,044$39,4751.10%7.70%
Mid-size Car$30,281$29,510$27,2142.60%11.30%
Mid-size Pickup Truck$41,105$40,314$38,3612.00%7.20%
Mid-size SUV/Crossover$43,623$43,107$40,8451.20%6.80%
Minivan$43,033$42,138$36,5312.10%17.80%
Sports Car$43,464$42,457$40,3992.40%7.60%
Subcompact Car$20,646$19,920$19,0593.60%8.30%
Subcompact SUV/Crossover$27,453$27,338$25,5740.40%7.30%
Van$41,800$41,867$42,244-0.20%-1.10%
Industry$42,258$41,330$39,7312.24%6.36%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

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