New-Car Transaction Prices Climbed 1.4% in June | Auto Finance News | Auto Finance News

New-Car Transaction Prices Climbed 1.4% in June

© Can Stock Photo Inc. / IgorSokolovThe average transaction price for new light vehicles in the United States increased 1.4% in June over the previous year, according to Kelley Blue Book. Most automakers reported increases from last year, with the notable exception of Nissan North America  and American Honda.

The ATP for light vehicles in June 2014 was $32,342, up $545 from June 2013 and $113 from May 2014, Kelley Blue Book reported in early July. “Most major automakers showed positive growth for June 2014, as the market continues to shift toward utility vehicles this year,” said Alec Gutierrez, senior analyst for Kelley Blue Book.  “SUV and crossover share increased more than two percentage points in 2014 to comprise one-third of the market.”

General Motors posted a 5.4% year-over-year gain, bolstered by the 7.9% increase in the Silverado line and 10% price increase in the Tahoe and Suburban. Nissan North America’s 4% decline in transaction prices is linked to the manufacturer’s rising share of smaller cars, according to the company. American Honda’s prices declined 0.6%, or $120 over the same period.

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