Car Sales Prices Up 2.7 Percent according to TrueCar







Published by Gerald Ferreira Date: February 3, 2014
Categories: General News

NEW CAR TRANSACTION PRICES IN JANUARY UP 2.7 PERCENT YEAR-OVER-YEAR, ACCORDING TO TRUECAR

TrueCar

SANTA MONICA, Calif. (February 3, 2014) - TrueCar, the negotiation-free car buying platform, estimated today that the average transaction price (ATP) for light vehicles in the U.S. was $30,934 in January 2014, up $804 (2.7 percent) from January 2013 and down $422 (-1.3 percent) from December 2013. Average transaction prices continue to rise and are at the highest levels in the last five years.

"The industry couldn't ask for a more ideal start to the year with transaction prices up and incentive spending down," said Larry Dominique, Executive Vice President of TrueCar and President of ALG. "Whether this type of healthy growth is sustainable remains to be seen."

Average Transaction Price

Manufacturer January 2014 December 2013 January 2013 Percent Change Jan. 2013 vs. Jan. 2014 Percent Change Dec. 2013 vs. Jan. 2014
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) $32,154 $32,870 $30,012 7.1% -2.2%
Ford (Ford, Lincoln) $32,839 $34,112 $32,192 2.0% -3.7%
GM (Buick, Cadillac, Chevrolet, GMC) $34,157 $35,156 $32,735 4.3% -2.8%
Honda (Acura, Honda) $28,070 $27,815 $27,030 3.8% 0.9%
Hyundai/Kia $23,927 $23,111 $23,750 0.7% 3.5%
Nissan (Nissan, Infiniti) $26,635 $26,586 $27,600 -3.5% 0.2%
Toyota (Lexus, Scion, Toyota) $30,868 $31,025 $29,694 4.0% -0.5%
Volkswagen (Audi, Porsche, Volkswagen) $34,437 $36,388 $35,338 -2.5% -5.4%
Industry $30,934 $31,356 $30,130 2.7% -1.3%

In addition, TrueCar estimated that the average incentive for light vehicles was $2,452 in January, down $80 (-3.1% percent) from January 2013 and down $284 (-10.4 percent) from December 2013.

Incentive Spending

Manufacturer January 2014 Forecast December 2013 January 2013 Percent Change Jan. 2013 vs. Jan. 2014 Percent Change Dec. 2013 vs. Jan. 2014
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) $2,623 $2,915 $3,264 -19.6% -10.0%
Ford (Ford, Lincoln) $3,123 $3,399 $2,724 14.6% -8.1%
GM (Buick, Cadillac, Chevrolet, GMC) $3,376 $3,649 $3,501 -3.6% -7.5%
Honda (Acura, Honda) $1,769 $1,931 $1,571 12.6% -8.4%
Hyundai/Kia $1,649 $1,658 $1,518 8.6% -0.6%
Nissan (Nissan, Infiniti) $2,572 $2,810 $2,400 7.2% -8.4%
Toyota (Lexus, Scion, Toyota) $1,843 $2,055 $1,836 0.4% -10.3%
Volkswagen (Audi, Porsche, Volkswagen) $2,101 $2,370 $2,109 -0.4% -11.3%
Other $2,368 $2,587 $2,565 -8.3% -8.5%
Industry $2,452 $2,736 $2,532 -3.1% -10.4%

TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 7.9 percent in January 2014, down 5.7 percent from January 2013 and down 9.1 percent from December 2013.

Incentive to ATP Ratio

Manufacturer January 2014 Forecast December 2013 January 2013 Percent Change Jan. 2013 vs. Jan. 2014 Percent Change Dec. 2013 vs. Jan. 2014
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) 8.2% 8.9% 10.9% -25.0% -8.0%
Ford (Ford, Lincoln) 9.5% 10.0% 8.5% 12.4% -4.6%
GM (Buick, Cadillac, Chevrolet, GMC) 9.9% 10.4% 10.7% -7.6% -4.8%
Honda (Acura, Honda) 6.3% 6.9% 5.8% 8.4% -9.2%
Hyundai/Kia 6.9% 7.2% 6.4% 7.8% -4.0%
Nissan (Nissan, Infiniti) 9.7% 10.6% 8.7% 11.1% -8.6%
Toyota (Lexus, Scion, Toyota) 6.0% 6.6% 6.2% -3.4% -9.8%
Volkswagen (Audi, Porsche, Volkswagen) 6.1% 6.5% 6.0% 2.2% -6.3%
Industry 7.9% 8.7% 8.4% -5.7% -9.1%

 

About TrueCar TrueCar is the negotiation-free car buying platform. TrueCar empowers car buyers by giving them transparent insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to a trusted TrueCar Certified Dealer to seamlessly complete the car purchase. The reality is buying a car is painful and buyers fear they are going to overpay. TrueCar's transparent upfront pricing information and guaranteed savings certificate make the car buying process simple so buyers never overpay. TrueCar's mission is to prove that truth and transparency are a more profitable way of doing business -- starting with cars. TrueCar users and its Certified Dealers have completed over 1 million automobile transactions since inception, and nearly 400,000 in 2013. Its national network of more than 7,000 TrueCar Certified Dealers is committed to providing negotiation-free savings for some of the country's largest membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports. Note: Not all program features are available in all states. Go to

www.truecar.com

for program details. TrueCar is a privately held company headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.