can have within your organization today. We all know people just started using their vehicles more. We expect to see more and more people return to the office place, but right now, 43% of consumers are saying that they plan to put more miles on their cars on 2021 than they did in the years before the pandemic, and 41% of consumers have told us that they have summer plans and are planning on using their vehicles to get there, versus other methods of transportation. “And so, we’re seeing this steady increase of consumers visiting [the Kelley Blue Book] Service and Repair Guide. Just this year alone, over 9 million service shoppers have gone to the service and repair experience, indicating that people are not only hitting the roads again, but that they have a different expectation and a different way that they want to interact than they ever had before.” Terreberry recommended businesses set specific goals around each strategy that it chooses to implement, but she also stressed the importance of considering conversion.
“Are you converting consumers into transactions?” she asked. “Sadly, not everybody is going to succeed, but ultimately, the market share and measurement of your success in today’s environment from a multi-pronged profitability perspective is what is going to help you navigate through […] database decisions that you can make to streamline in those areas and start moving the needle, and to streamline our processes and to train our people on how to meet consumers where they want to meet us with the experience that they want to have, because if you don’t, somebody else will.”
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Average New-Vehicle Price Rises $2,000 from Last Year, Hits All-Time Record High for May The estimated average transaction price for a light vehicle in the U.S. was $41,263 in May 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,125, up 5.4%, from May 2020, while increasing $493, up 1.2%, from April 2021. “Last month’s average transaction price performance highlights an all-time high in year-overyear growth for the month of May,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “Many manufacturers reported year-over-year gains in average transaction prices. The largest increase came from Mitsubishi, up 12% from this time last year.” As one of the most affordable manufacturers with the lowest average transaction price in May, Mitsubishi reported recovery within the retail space moving into the second quarter of the year. A majority of the models within the Mitsubishi lineup experienced yearover-year average transaction price increases in May 2021.
The latest Outlander and Outlander PHEV are Mitsubishi’s highest-priced vehicles, with MSRPs starting at $25,795 for the 2022 Outlander and $36,295 for the 2021 Outlander PHEV. Overall, the Outlander model line saw sales more than double for May 2021 when compared to May 2020. The inclusion of the PHEV trim level within the model lineup aided sales and pricing gains. Despite the large gap in average transaction prices for luxury and non-luxury segments in May 2021, non-luxury vehicles had a larger year-over-year price increase at 4.9%, up $1,805, while luxury vehicles climbed 2.9%, or $1,597, from this time last year. Standard full-size SUVs and pickup trucks contributed to the growth among non-luxury segments. The third and fourth highest-priced models within the segment include the GMC Yukon XL ($79,695) and Yukon ($77,031), both priced substantially above the industry and segment average. Source: Kelley Blue Book
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Midland (888) 814-6356 (432) 617-2277 Mon.-Fri. 7:30-6; Sat. 8-2 sehawkins@subarumidlandodessa.com
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Baldwin Motors Covington (888) 310-9605 (985) 892-2902 (985) 273-3273 Fax Mon.-Fri. 7:30-6; Sat. 8-2 cbilbo@baldwinmotors.com
autobodynews.com / AUGUST 2021 AUTOBODY NEWS 41
