Prices Dip from February

By Staff Writer April 02, 2020

The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a new, light vehicle in the United States was $37,736 in March 2020. New-vehicle prices increased $972 (up 2.6 percent) from March 2019, while dropping $38 (down 0.1 percent) from last month.

“While the automotive industry and broader U.S. economy were brought to a near halt in March, average transaction prices remained stable from February and increased from this time last year, showing strength in line with the first two months of the year,” said Tim Fleming, analyst for Kelley Blue Book. “Prices were supported by the abundance of incentives quickly enacted by manufacturers and their captive finance companies, including 0 percent financing for 84 months and payment deferrals of up to 180 days.”

With most of the country encouraged to stay at home for at least another month and unemployment skyrocketing as a result, the impact of this year’s auto sales will be severe. Production is also at a standstill, as North American factories have been shut down for weeks. For March, new-vehicle prices remain solid, but there are still many unknowns about April and what the state of the economy will be for the remainder of the year.

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Last modified on Thursday, 02 April 2020 13:24

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