Although the average year-over-year drop in Kelley Blue Book Fair Purchase Price for new cars is sizable, there are a handful of models that are particularly affordable. The 2012 Toyota Prius is down $2,500 year-over-year, while the 2012 Honda Accord and 2012 Nissan Sentra are down nearly $1,500. Although it dropped $2,500 from this time last year, the Toyota Prius still sells at 95 percent of its original manufacturer’s suggested retail price (MSRP). In June 2011, the Prius was selling at nearly 10 percent more than MSRP due to high fuel prices and nonexistent inventory. These two issues no longer are driving up prices for the Prius and other fuel-efficient models.
“The Honda Accord and Nissan Sentra can attribute their price decline to improved inventory levels, falling fuel prices and the expectation of a redesign for each model later this year,” said Gutierrez. “Although conditions in the global economy continue to deteriorate, consumers who are willing to pull the trigger on a new vehicle will find that there are plenty of deals available.”
|Transaction Prices Fall: Year-Over-Year Change|
|Toyota||Prius||One Hatchback 4D||$23,775||$25,150||$22,650||-$2,500||–||–|
|Toyota||Highlander||Sport Utility 4D||$31,655||$31,500||$29,500||-$2,000||0.9%||$750|
|Honda||Civic||LX Sedan 4D||$18,795||$18,800||$17,250||-$1,550||1.9%||–|
|Honda||Accord||LX Sedan 4D||$23,050||$21,800||$20,350||-$1,450||1.9%||–|
|Toyota||Corolla||LE Sedan 4D||$18,670||$18,600||$17,200||-$1,400||1.9%||$500|
|Mazda||MAZDA3||i Sport Sedan 4D||$17,640||$17,300||$16,100||-$1,200||1.9%||–|
|Mazda||MAZDA6||i Sport Sedan 4D||$22,275||$21,000||$19,950||-$1,050||0.0%||–|
|Nissan||Maxima||S Sedan 4D||$33,200||$31,700||$30,650||-$1,050||0.0%||–|
|Subaru||Forester||2.5X Sport Utility 4D||$21,370||$19,800||$20,500||$700||0.9%||–|
|Note: FPP Represents Fair Purchase Price, the average price a consumer can expect to pay at a dealership|
|The table highlights MY2012 values compared to MY2011 at this time last year|
For more information and news from Kelley Blue Book’s kbb.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), or like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/114407011985343857500.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry. Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Suggested Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. Kbb.com provides consumer pricing and information on cars for sale, minivans, pickup trucks, sedan, hybrids, electric cars, and SUVs. Kelley Blue Book’s kbb.com ranked highest in its category for brand equity and was named Online Auto Shopping Brand of the Year by the 2012 Harris Poll EquiTrend® study. Kelley Blue Book Co. Inc. is a wholly owned subsidiary of AutoTrader.com.
SOURCE Kelley Blue Book