New Car Purchases Average $33,993 in January

New Car Purchases Average $33,993 in January

Lower gas prices are having an impact on new car sales in the U.S.

Kelley Blue Book reports that the estimated average transaction price (ATP) for light vehicles sold in the U.S. reached $33,993 in January 2015, up 5.2 percent compared to January 2014 ($32,299), but down 1.7 percent from December 2014 ($34,563). Across the board, all the major automakers saw year-over-year growth with General Motors seeing an 8.2 percent increase in the average transaction price.

SEE ALSO: January 2015 Auto Sales: Winners and Losers

Ford also saw a noticeable increase with a 5.7 percent change year-over-year. Ford benefited from the launch of several new products including its F-Series pickup which saw its average transaction price increase by 7.5 percent in January. The new Mustang also contributed with an increase of 12.9 percent.

Seeing the lowest percentage change is the Volkswagen Group with its average transaction price increasing by a modest $60 to $39,165. It’s worth noting that the German automaker’s group, which includes Audi and Porsche, has the highest average of all the major automakers. Hyundai and Kia were lowest with $25,016 for January 2015 but did see a 3.8-percent increase year-over-year.