The estimated average transaction price for light vehicles in the United States reached an all-time record high of $35,309 in December, according to Kelley Blue Book. This increase, the firm noted, amounted to a 1.5% increase over the same time last year.
The estimated average transaction price for a light vehicle in the U.S. in October was $34,663, a 2.3% increase over the same time last year. Fiat Chrysler registered the biggest gain in average transaction price, followed by Nissan and Ford.
For the first time on Kelley Blue Book’s record, SUV sales should top car sales in the United States. The firm also expects new-vehicle sales to decline 6% in October due, in part, to two fewer selling days vs. a year ago.
Cox Automotive has named Brian Geitner president of its Media Solutions Group. He replaces Jared Rowe, who is departing the company for a new opportunity outside the automotive industry.
Kelley Blue Book expects June new-vehicle sales to increase 5% from a year ago to 1.55 million units. This predicted increase should result in an estimated 17.1 million seasonally adjusted annual rate (SAAR).
After a disappointing March, new-vehicle sales should bounce back in April, KBB said yesterday. The firm predicts new-vehicle sales will rise 4% from a year ago to a record 1.51 million units.
Used-vehicle buyers are turning to sports cars in greater numbers thanks to low fuel prices, which are allowing them to forego fuel efficiency in favor of performance, KBB said this week.
Kelley Blue Book's new 'Get New Car Smart" marketing campaign is designed to reposition the brand away from being the used-car pricing and valuation destination to the go-to resource for new-car shoppers, company officials said.
Results from a KBB.com survey show that 61% of drivers continue to multitask behind the wheel, with nearly half of respondents still using their mobile phones while driving.
Through the integration, users of GoMoto's Customer Experience platform will be able to offer Kelley Blue Book's appraisal tool as part of the initial customer registration process. Users will also be able to use the appraisal tool to get service customers to trade up and explore their inventory.
