Kelley Blue Book says average new-car prices up 3% from last year

Kelley Blue Book (KBB) said in a release that the average new car price in the United States has increased nearly 3 percent since the same time last year.

The average light-vehicle transaction price for May was $33,261, up $847, or 2.6 percent, compared to a year ago.

"Compact SUVs, the most popular segment in terms of sales, saw an increase of 2 percent year-over-year and clearly remain in very high demand," KBB analyst Tim Fleming said in the release. "There are signs, however, of discounts in SUV segments that are growing quickly, including subcompact and luxury SUVs, which are likely helping to fuel those segments' double-digit sales growth this year."

Ford Motor Company's average price was up 5 percent over this same time last year and Volkswagen Group's average transaction price gained close to 4 percent, the release said.

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Kelley Blue Book Harvard-Alton Irvine, CA