Volkswagen may be struggling to gain sales in the U.S. car market, but on average the price of its cars was higher than that of any other manufacturer in March, according to Kelley Blue Book (KBB) estimates. Part of this is due to sales of its luxury divisions Audi and Porsche. Nevertheless, for VW a win is a win.
The average sales price of cars sold by parent Volkswagen Group brands was $37,431, against an average for all cars sold of $33,280, according to research firm KBB. The only manufacturer close to VW was General Motors Co. (NYSE: GM) at $37,170. The figure is impressive since its Cadillac brand does so poorly. That means the sales prices of other divisions, which include Chevy, Buick and GMC, have to be high.
At the far end of the spectrum, are the Kia and Hyundai brands. Between the two, they do not market luxury cars to any great extent, aside from the Hyundai Genesis and Equus. Neither is a factor in the luxury segment based on sales. However, between the two brands, Kia and Hyundai have a large product line of low-priced and mid-priced vehicles.
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Ford Motor Co. (NYSE: F) sits near the top of manufacturers based on average sales price at $35,539. The number is particularly impressive since its Lincoln luxury brand has tiny sales. And, its flagship F-150 pickup, which represents about one in five of all of Ford sales, has an entry price of $25,420.
Two Japanese manufacturers round out the list of average low prices. The first is Nissan North America at $27,958. Its luxury brand, Infiniti, has less than a modest portion the luxury market. Honda Motor Co. Ltd. (NYSE: HMC) also had a low average sales price of $27,724 in March, according to KBB. Its luxury car brand, Acura, sells very few cars compared to luxury segment leaders Mercedes and BMW.
In total, March trends were good for manufacturers. According to KBB:
[T]he estimated average transaction price (ATP) for light vehicles in the United States was $33,280 in March 2015. New-car prices have increased by $1,125 (up 3.5 percent) from March 2014, while dropping $41 (down 0.1 percent) from last month.
Volkswagen may have had a hard time clawing out market share, but it boasts an average price that the balance of the industry has to admire.
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