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2017 Pickup Truck and SUV Purchase Price

After looking compiling their data, the analysts at Kelley Blue Book have released their 2017 average prices for all new pickup trucks and SUVs as well as average prices for each manufacturer. Here is what they found.

The report looked at December 2017 sales and compared it to prior years as well as year over year. This gives us a good idea on a yearly basis with December being the last month of the year. KBB says the estimated average transaction price for light vehicles in the United States was $36,113 in December 2017. New-car prices have increased by $583 (up 1.6 percent) from December 2016, while climbing 66 (up 0.2 percent) from last month.

“Average transaction prices closed the year on a strong note, rising nearly 2 percent in December 2017 to set a record high,” said Tim Fleming, analyst for Kelley Blue Book. “Incentive spending was a concern in 2017, averaging 10.4 percent of MSRP, but encouragingly, this figure held relatively flat over the final quarter of the year. In 2018, interest rate hikes could be another concern, as they threaten to increase monthly payments for consumers; however, Kelley Blue Book anticipates they will help contribute to another down year of new-vehicle sales more than impact prices, which have steadily risen along with the economy since the recession.”

Transaction prices for all of 2017 also finished 2 percent higher than last year, slightly slower growth than 2015 and 2016, which was at 2.5 percent.

2017 Average Transaction Price By Maker     
ManufacturerDecember
 2017
Transaction 
Price (Avg.)*
November
2017
Transaction 
Price (Avg.)*
December
2016 
Transaction 
Price (Avg.)*
Percent 
Change 
November
2017 to 
December 
2017*
Percent 
Change 
December
2016 to 
December
2017*
American Honda (Acura, Honda)$28,658$28,351$27,9511.1%2.5%
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM)$37,446$37,411$36,9770.1%1.3%
Ford Motor Company (Ford, Lincoln)$40,421$40,023$39,4471.0%2.5%
General Motors (Buick, Cadillac, Chevrolet, GMC)$40,016$40,204$40,185-0.5%-0.4%
Hyundai-Kia$25,546$25,356$24,9700.7%2.3%
Nissan North America (Nissan, Infiniti)$29,828$29,921$29,932-0.3%-0.3%
Subaru$28,688$28,824$28,646-0.5%0.1%
Toyota Motor Company (Lexus, Toyota)$33,937$33,351$33,0321.8%2.7%
Volkswagen Group (Audi, Volkswagen, Porsche)$40,698$42,943$37,658-5.2%8.1%
Industry$36,113$36,047$35,5300.2%1.6%
*Kelley Blue Book average transaction prices do not include applied consumer incentives
By SegmentDecember
 2017
Transaction
Price 
(Avg.)*
November
2017
Transaction 
Price 
(Avg.)*
December
2016 
Transaction 
Price 
(Avg.)*
Percent 
Change 
November
2017 to 
December 
2017*
Percent 
Change
December
2016 to 
December
2017*
Compact SUV/Crossover$28,470$28,565$27,785-0.3%2.5%
Full-size Pickup Truck$47,601$47,333$47,1910.6%0.9%
Full-Size SUV/Crossover$60,830$60,335$61,4380.8%-1.0%
Luxury Compact SUV/Crossover$44,239$44,496$43,151-0.6%2.5%
Luxury Full-size SUV/Crossover$83,277$82,213$83,2671.3%0.0%
Luxury Mid-size SUV/Crossover$55,588$55,625$54,735-0.1%1.6%
Mid-size Pickup Truck$32,562$32,400$32,7090.5%-0.4%
Mid-size SUV/Crossover$38,139$38,076$37,5630.2%1.5%
Subcompact SUV/Crossover$24,310$24,400$24,422-0.4%-0.5%
Grand Total$36,113$36,047$35,5300.2%1.6%
*Kelley Blue Book average transaction prices do not include applied consumer incentives

American Honda’s transaction prices rose nearly 3 percent in December 2017 with the Honda brand up 4 percent and Acura flat. The CR-V, Honda’s top seller, continued its strong run with prices up 6 percent. In addition, the redesigned Honda Odyssey showed the most improvement, rising 14 percent to top the minivan segment.

Volkswagen Group saw the biggest jump among the major manufacturers with average prices up 8 percent. The Volkswagen brand climbed 9 percent, thanks to its new SUVs, the Atlas and Tiguan, which also are gaining momentum. Porsche climbed 5 percent on the strength of its new Panamera. Audi was up 4 percent with the redesigned A5 and Q5 each rising 10 percent.

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