Car Buyers Pay 2% More This Year, Edmunds.com Data Shows
By Michelle Krebs October 9, 2009Consumers are paying 2 percent more this year for new cars and trucks than they were a 
year ago, according to Edmunds.com.
That's good news for automakers eager to turn profits on fewer sales, but bad news for consumers.
The average price of a car or truck sold in the United States was $28,492 for the first nine months of the year, compared with $27,945 last year, according to Edmunds.com. The average transaction estimate doesn't include manufacturer rebates.
The price hikes are not even across all manufacturers. Transactions on Buick, Chevrolet and Ford models are up, while Toyota and Lexus prices are down, Edmunds.com calculates.
The average price consumers paid for a Buick has increased 9.5 percent. GM confirms the new Buick LaCrosse is transacting at a higher price than the one it replaces. Indeed, GM executives said during last week's sales call that the average transaction price in September was $35,000, up $7,500 from August when Cash for Clunkers was in effect and smaller, less-expensive models were sold.
Ford said in its sales call that its average transaction price was $28,387 through September, up $1,416 from a year ago.
Edmunds.com calculates the average transaction price for Chevrolet rose 7.9 percent from a year ago and for Ford 5.3 percent. Toyota's average transaction price slid 0.6 percent; Lexus' fell by 3.9 percent.
Photo by GM
New models like the Buick LaCrosse are lifting average transaction prices for Buick and General Motors in total.
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These statistics may be a bit misleading. The assumption being made by this article is that transaction prices are higher because the automakers hiked the prices. That is, that consumers paid more for the same car value. However, it could just be that consumers chose more options on the cars they bought - i.e. that they got more car value for the extra money they paid. That's not "bad news for consumers".
Ford and Chevy average transaction prices are up because they are making alot better cars the past 2-3 years I think.
I haven;t seen any new LaCrosse's in NJ where I live. We on;y have like 1 Buick dealership in the area where I live anyway. The newer Buicks like 2005+ aren;t that popular in NJ I don;t think.
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