The Car and Truck Fleet and Leasing Management Magazine

Average Vehicle Retail Transaction Price Increases to $27,023 in 2003

August 3, 2004

Paul Ballew, GM executive director of global market and industry analysis, said the average vehicle transaction price in the U.S.A. rose to $27,023 in 2003, up from $26,249 the year before. One reason for rising transaction prices is a 30 percent improvement in the affordability of vehicles compared to just over a decade ago, based on a vehicle cost as a percentage of personal income. Ballew forecast continued growth in the luxury segment and in trucks.According to Ballew, this improved affordability is helping foster the trend of consumers buying more expensive vehicles, with luxury vehicles sales in the U.S. market reaching 1.8 million units a year and one-third of all vehicles sales having a transaction price of $30,000 and up. As a result, industry revenue gains are forecast to be in the 6 percent to 7 percent range this year and next year.General Motors expects an industry-wide sales in the low 17 millions for 2004 with modest growth in 2005.
Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

John Lovato was one of the 46 founding members of NAFA, a member of The Round Table Group (a precursor to NAFA), and a former fleet manager with chemical manufacturing company American Cyanamid.

Read more

Up Next

More From The World's Largest Fleet Publisher