The average price paid for a new car rose marginally in June as buyers shifted to affordable vehicle options amid an economically uncertain environment, according to vehicle valuation company Kelley Blue Book (KBB).
In June, the average transaction price (ATP) of a new vehicle was $49,758, a 0.6 percent increase year-over-year, KBB said in a July 14 statement. Prices have remained steady, below the $50,000 level throughout this year. Buyers were found to have gravitated toward lower-priced offerings, with sales of subcompact SUVs, with an ATP of $31,113 in June, rising by over 23 percent on an annual basis.
The sales of small/medium pickup trucks rose by 12.3 percent year-over-year, while the sales of full-size pickups, which tend to be more expensive, grew by a smaller 2.5 percent….