New car prices remain relatively flat

December 4, 2013 12:00 AM

Drivers who invest in new cars are used to high costs, typically ranging from the sticker price of a vehicle to a baseline auto tune up. In the month of November, prospective buyers had to deal with some relatively stagnant new car costs, despite the fact that many automakers were trying to move 2013 editions to make rooms for the 2014 model year vehicles. reported that the average transaction price for light vehicles was $30,634 for the month of November. Although Kelley Blue Book's estimates were slightly higher, the average was significantly more expensive than in years past. 

"Relatively higher levels of discounting are being used to clear out 2013 model year vehicles," said Jesse Toprak, senior analyst for "We expect transaction prices to continue to stay in record territory in the short term, as long as the fundamentals in the economy stay positive." 

The one area where there was a significant drop in price was electric vehicles. According to Kelley Blue Book, electric cars saw costs fall by as much as 15 percent throughout 2013, thanks in large part to several price cuts. On the other hand, Jeep vehicles saw expenses grow by nearly 7 percent, mostly due to the new Grand Cherokee lineup. 

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