Honda and Toyota with Record Highest Average Transaction Prices for Second Straight Month; Industry Incentives Lower in June According to TrueCar.com Transaction Prices Climb for All Major Manufacturers Except Ford and GM

SANTA MONICA, Calif., July 3, 2012 /PRNewswire/ -- TrueCar.com, the authority on car pricing, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $30,508 in June 2012, up $849 (2.9 percent) from June 2011 and up $148 (0.5 percent) from May 2012.

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"Despite the relative slowdown in the last two months, the auto industry continues to experience improved profitability with strong year-over-year sales, historically high transaction prices and precise incentives spending," said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com.

Manufacturer

June 2012 Transaction Price

May 2012 Transaction Price

June 2011 Transaction Price

Percent Change June 2011 to June 2012

Percent Change May 2012 to June 2012

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$29,590

$29,679

$28,568

3.6%

-0.3%

Ford (Ford, Lincoln)

$31,947

$31,676

$32,599

-2.0%

0.9%

GM (Buick, Cadillac, Chevrolet, GMC)

$32,824

$33,142

$33,842

-3.0%

-1.0%

Honda (Acura, Honda)

$27,055

$26,984

$25,763

5.0%

0.3%

Hyundai/Kia

$22,121

$22,196

$20,510

7.9%

-0.3%

Nissan (Nissan, Infiniti)

$28,283

$27,817

$27,595

2.5%

1.7%

Toyota (Lexus, Scion, Toyota)

$27,910

$27,801

$25,842

8.0%

0.4%

Volkswagen (Audi, Volkswagen)

$33,368

$33,160

$32,348

3.2%

0.6%

Industry

$30,508

$30,360

$29,659

2.9%

0.5%







In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,432 in June 2012, up $36 (1.5 percent) from June 2011 and down $124 (4.8 percent) from May 2012.

Manufacturer

June 2012 Incentives

May 2012 Incentives

June 2011 Incentives

Percent Change June 2011 to June 2012

Percent Change May 2012 to June 2012

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$3,192

$3,106

$3,049

4.7%

2.8%

Ford (Ford, Lincoln)

$2,489

$2,650

$2,641

-5.8%

-6.1%

GM (Buick, Cadillac, Chevrolet, GMC)

$3,014

$3,368

$2,948

2.3%

-10.5%

Honda (Acura, Honda)

$2,314

$2,353

$1,766

31.0%

-1.6%

Hyundai/Kia

$1,253

$1,242

$1,364

-8.2%

0.9%

Nissan (Nissan, Infiniti)

$2,645

$2,766

$2,214

19.5%

-4.4%

Toyota (Lexus, Scion, Toyota)

$1,699

$1,968

$1,891

-10.2%

-13.7%

Volkswagen (Audi, Volkswagen)

$2,485

$2,560

$2,035

22.1%

-2.9%

Industry

$2,432

$2,556

$2,396

1.5%

-4.8%

TrueCar.com estimated that the ratio of incentives to average transaction price for light-vehicles was 8.0 percent in June 2012, down from 8.1 percent in June 2011 and down from 8.4 percent in May 2012.

Manufacturer

June 2012 Incentives/Avg. Transaction Price

May 2012 Incentives/Avg. Transaction Price

June 2011 Incentives/ Avg. Transaction Price

Percent Change June 2011 to June 2012

Percent Change May 2012 to June 2012

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

10.8%

10.5%

10.7%

0.1%

0.3%

Ford (Ford, Lincoln)

7.8%

8.4%

8.1%

-0.3%

-0.6%

GM (Buick, Cadillac, Chevrolet, GMC)

9.2%

10.2%

8.7%

0.5%

-1.0%

Honda (Acura, Honda)

8.6%

8.7%

6.9%

1.7%

-0.2%

Hyundai/Kia

5.7%

5.6%

6.7%

-1.0%

0.1%

Nissan (Nissan, Infiniti)

9.4%

9.9%

8.0%

1.3%

-0.6%

Toyota (Lexus, Scion, Toyota)

6.1%

7.1%

7.3%

-1.2%

-1.0%

Volkswagen (Audi, Volkswagen)

7.4%

7.7%

6.3%

1.2%

-0.3%

Industry

8.0%

8.4%

8.1%

-0.1%

-0.4%

About TrueCar, Inc.
TrueCar, Inc. is an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers.  Consumers want a hassle-free car buying experience and dealers want high-quality sales velocity.  TrueCar helps achieve these goals by providing unbiased market information on new car transactions and by supplying an online communications platform through which dealers and consumers can communicate with each other.  TrueCar's market-based information provides both consumers and dealers with an accurate and comprehensive understanding of what others actually paid recently for similar vehicles, both locally and nationally.  TrueCar's communications platform then allows informed, ready-to-buy consumers to communicate directly with participating dealers.  Some of the nation's largest and most well respected membership and service organizations rely on websites powered by TrueCar to help educate their members and customers who are in the automotive market.  TrueCar is headquartered in Santa Monica, CA, and has offices in San Francisco, CA, and Austin, TX.  After experiencing dramatic growth since 2006, TrueCar is developing a suite of products and services centered on radical clarity through the comprehensive analysis of market data and information.  TrueCar's participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

Disclaimer
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only.  TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement.  The information contained in this press release may include technical inaccuracies or typographical errors.  Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.

SOURCE TrueCar.com



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