The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $38,393 in November 2019. New vehicle prices increased $387 (up 1%) from November 2018, while climbing $106 (up 0.3%) from last month, said KBB in a press release.
“Transaction prices rose only 1% as dealer discounts grew to move older inventory,” said Tim Fleming, analyst for Kelley Blue Book. “As retail sales slowed by more than 2% this year, vehicles are spending more time on dealer lots, about 80 days on average, which is five days longer than a year ago and the highest level seen since 2017. As a result, there are more discounts and incentives, especially now that the year’s end is approaching.”