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Average new-vehicle prices hit all-time high: Report

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.
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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.”

Manufacturer June 2021

Transaction Price (Avg.)*

 May 2021

Transaction Price (Avg.)*

 June 2020

Transaction Price (Avg.)*

 Percent Change

May 2021 to June 2021*

 Percent Change

June 2020 to June 2021*
American Honda (Acura, Honda) $33,064 $32,591 $30,216 1.50% 9.40%
BMW Group $58,838 $57,879 $57,137 1.70% 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 $42,960 3.30% 15.80%
Ford Motor Company (Ford, Lincoln) $50,412 $45,831 $46,005 10.00% 9.60%
General Motors (Buick, Cadillac, Chevrolet, GMC) $48,700 $48,555 $42,749 0.30% 13.90%
Hyundai Kia $31,793 $31,115 $29,099 2.20% 9.30%
Mazda $31,563 $30,892 $29,858 2.20% 5.70%
Mitsubishi $26,609 $25,225 $22,487 5.50% 18.30%
Nissan North America (Nissan, INFINITI) $32,735 $32,536 $32,193 0.60% 1.70%
Subaru $35,219 $33,507 $31,522 5.10% 11.70%
Tesla Motors** $47,772 $52,553 $55,541 -9.10% -14.00%
Toyota Motor Company (Lexus, Toyota) $38,467 $37,259 $36,466 3.20% 5.50%
Volkswagen Group (Audi, Volkswagen, Porsche) $53,188 $52,170 $48,715 2.00% 9.20%
Volvo North America $49,059 $47,529 $45,659 3.20% 7.40%
Industry $42,258 $41,330 $39,731 2.24% 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.

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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.

Segment June 2021

Transaction Price (Avg.)*

 May 2021

Transaction Price (Avg.)*

 June 2020

Transaction Price (Avg.)*

 Percent Change

May 2021 to June 2021*

 Percent Change

June 2020 to June 2021*
Compact Car $23,903 $23,411 $22,466 2.10% 6.40%
Compact SUV/Crossover $32,258 $31,592 $30,594 2.10% 5.40%
Electric Vehicle $49,766 $52,732 $57,480 -5.60% -13.40%
Entry-level Luxury Car $47,684 $47,436 $44,719 0.50% 6.60%
Full-size Car $42,617 $40,795 $38,581 4.50% 10.50%
Full-size Pickup Truck $57,267 $56,261 $52,691 1.80% 8.70%
Full-size SUV/Crossover $68,173 $68,929 $63,625 -1.10% 7.10%
High Performance Car $103,300 $101,211 $114,000 2.10% -9.40%
High-end Luxury Car $106,341 $105,146 $101,139 1.10% 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 $46,621 1.80% 5.10%
Luxury Full-size SUV/Crossover $99,700 $98,202 $90,375 1.50% 10.30%
Luxury Mid-size SUV/Crossover $65,874 $65,331 $63,534 0.80% 3.70%
Luxury Subcompact SUV/Crossover $42,505 $42,044 $39,475 1.10% 7.70%
Mid-size Car $30,281 $29,510 $27,214 2.60% 11.30%
Mid-size Pickup Truck $41,105 $40,314 $38,361 2.00% 7.20%
Mid-size SUV/Crossover $43,623 $43,107 $40,845 1.20% 6.80%
Minivan $43,033 $42,138 $36,531 2.10% 17.80%
Sports Car $43,464 $42,457 $40,399 2.40% 7.60%
Subcompact Car $20,646 $19,920 $19,059 3.60% 8.30%
Subcompact SUV/Crossover $27,453 $27,338 $25,574 0.40% 7.30%
Van $41,800 $41,867 $42,244 -0.20% -1.10%
Industry $42,258 $41,330 $39,731 2.24% 6.36%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

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