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General Motors

Auto sales and prices continue to rise

Auto sales and prices continue to rise

U.S. auto sales continue a robust year on the back of SUV and truck sales, while the average transaction price paid by consumers nears record highs.  The average transaction price (ATP) of new light-duty vehicles was $33,340, according to Kelley Blue Book, a 2.5 percent increase, or $800 more, from this time last year. The record ATP was $34,200, reached in December 2014.  "We are seeing folks better outfit cars," said Alex Gutierrez, senior analyst at Kelley Blue Book. "Money is relatively cheap, lease options are relatively affordable, and manufacturers are providing richer mixes with more robust base offerings." Those factors have prompted KBB to...