Posted on: 02/28/2018

There are many factors responsible for higher prices for new autos and one reason is the decrease in the number of cars purchased. When we think of autos it isn’t just a discussion of cars and pickups, there are cross-overs, minivans, small vans, large vans, mid-size SUVs, large SUVs, small SUVs, and luxury SUVs.

Cars are classified as mid-size, small, luxury, and large. So what has happen over the years is the emergence of light-duty trucks vs. cars. In January the total number of all car categories sold was 381,452 while the total number of light-duty trucks was 773,433. A cross-over* vehicle, which is classified in the light-duty truck category, sold 399,204 units in January, more than all cars combined.

The Detroit News writes: "Average transaction prices were on the rise in January, according to Kelley Blue Book, which reported the average price of a light vehicle in the U.S. last month (January) was $36,270, a 4 percent increase over the same period last year. The bump was driven largely by the consumer shift away from cars to more expensive trucks and SUVs. But even the price of mid-size cars rose in January, up 4 percent on gains for the Toyota Camry and Honda Accord, according to Kelley Blue Book’s report."

Here’s a little quiz that only a handful of consumers can answer: Nationwide, what was the total number of Large Cars sold in January? The answer is 22. Yes, only 22.

*crossover or crossover utility vehicle (CUV) is a vehicle built on a unibody car platform combining in highly variable degrees features of a sport utility vehicle (SUV) with those of a passenger vehicle, especially a station wagon or hatchback