GM 2014 Sales Price Rises Most Among U.S. Carmakers

Cars and Drivers

Published: January 5, 2015 7:40 am

Last Updated: April 27, 2020 10:16 pm

While we wait for the automakers to report December and full-year sales Monday morning, we can take a look at how much Americans are paying for those new cars. The average transaction price for a new car or pickup purchased in December was $34,367, an increase of 1.6% compared with November, as well as 2.5% higher than December of 2013.

In dollar terms, a new car or truck cost $842 more than it did a year ago and $556 more than it did in November. The data were published Monday morning by industry analysis firm Kelley Blue Book (KBB).

General Motors Co. (NYSE: GM) posted the largest gain in average sales price among U.S. manufacturers, rising 4% year-over-year and 2.3% month-over-month. Considering that GM recalled more than 30 million cars in North America this year, the company’s projected sales volume and its ability to increase prices are nothing short of miraculous.

Ford Motor Co. (NYSE: F) raised its prices 3.4% year-over-year and 1.7% month-over-month. The average Ford vehicle cost $36,485 in December. Ford faced stiff competition in 2014 from new pickups from GM and Ram. Now that its best-selling all-aluminum F-150 Series is getting delivered to dealer lots, Ford should start seeing an improvement in pickup sales.

ALSO READ: GM Closes Out 2014 With Total 84 Recalls for 30 Million Vehicles

Fiat Chrysler Automobiles N.V. (NYSE: FCAU) posted a year-over-year average price gain in December of 2.3% and a jump of 1.7% compared with November. But at $33,833, the company’s average transaction price is about $2,500 less than Ford’s and $5,000 less than GM’s. When we reported Sunday on expected December sales, Chrysler is expected to post the biggest gain both year-over-year and month-over-month.

Toyota Motor Corp. (NYSE: TM) was able to lift December prices by 1.6% over December 2013 and 2.4% compared with November.

Honda Motor Co. Ltd. (NYSE: HMC) posted the lowest average transaction price of any carmaker in KBB’s survey. The December average was $27,437, up 1.1% year-over-year and just 0.3% month-over-month.

Nissan Motor Co. Ltd. increased its average price by 1.2% year-over-year and 2.4% month-over-month.

Hyundai-Kia posted the largest year-over-year gain, up 5.5% to an average of $25,345 from $24,030 in December 2013. But the company’s December average dropped 0.1% compared with November.

Only Volkswagen posted lower prices for both December comparisons. Year-over-year the company’s average transaction price dropped 1.4%, and month-over-month the price dropped 0.1%.

ALSO READ: Can BMW Sell $135,000 Electric Car?

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