Prices for New Vehicles Drop in January: Kelley Blue Book

Proposed tariffs by the Trump administration on models assembled in Canada or Mexico would increase car costs by $5,855, according to Cox Automotive.

Vehicles for sale are on display in a Toyota dealership showroom in Houston on Jan. 4, 2022. Brandon Bell/Getty Images

The average transaction price of new vehicles sold in the United States fell on a monthly basis in January amid lower luxury auto sales, according to vehicle valuation company Kelley Blue Book (KBB).

The new vehicle average transaction price in January was at $48,641, down by 2.2 percent from the previous month but up by 1.3 percent from a year ago, KBB said in a Feb. 11 statement.