Average U.S. New-Vehicle Selling Price at Record High

The average selling price of a new passenger vehicle in the U.S. rose 2% last year to a record-high $36,100, according to Kelley Blue Book.

The vehicle valuation service says the increase was driven in large part by a market shift from conventional cars to pricier SUV/crossovers, pickup trucks and minivans. KBB notes that so-called transaction pricing rose an average 2.5% in 2016 and 2015.

Volkswagen AG generated the largest year-on-year jump in selling price, which climbed 8% to an average $40,700 in 2017. The company’s VW brand saw average prices grow 9%, thanks to the introduction of its new Atlas large SUV and redesigned Tiguan small crossover vehicle.