BURLINGAME, Calif., Aug. 10, 2011 /PRNewswire/ -- According to CarWoo! (www.carwoo.com), the only true online MarketPlace for car buyers and sellers, prices for new car buyers improved 7% over June. Nissan and Ford remained the discount leaders offering 10.38% and 8.38% discounts off MSRP respectively.
The most popular makes for online car buyers remained Toyota and Honda, with Toyota once again passing Honda to retake the top spot in buyer popularity. Audi jumped to be the fourth most popular vehicle, moving up from the twelfth position in June. Ford moved up from fifth place in June to third in July. Nissan dropped from third in June to fifth in July. BMW was the biggest loser online dropping from fourth in June to seventh in July.
Prices, which appeared to have reached their highest prices in May and early June are generally showing steady consumer improvement. Toyota prices dropped by 5% in July to 5.64% off MSRP while Honda prices held steady at a 4.1% discount. Notwithstanding its online popularity, Audi's discount dropped from 4.22% in June to 2.1% in July.
CarWoo! MarketPlace prices include incentives.
According to Tommy McClung, CarWoo! CEO, "We are seeing a steady drop in prices across the board. As inventory levels stabilize later in August, we anticipate major prices wars starting up. Early fall looks like it could be a great time to buy a car."
Additional information can be found on the CarWoo! Chronicle.
CarWoo! recently passed 100,000 fans on Facebook. In celebration of this CarWoo! has launched a sweepstakes on Facebook and will give away a Honda Fit when it reaches 200,000 fans. Details for the sweepstakes can be found at the CarWoo! Chronicle or on Facebook.
CarWoo!, as seen on The Today Show, CNN Money and other leading national media outlets, is the only online marketplace for car buyers and sellers. It was founded in 2008 by serial entrepreneurs, Tommy McClung, Erik Landerholm and Michael Young. It is the only online marketplace where buyers remain anonymous and dealers are assured buyers who purchase within two weeks 80% of the time. With early funding by Y Combinator, CarWoo! is based in Burlingame, CA and is now funded by Blumberg Capital, Comcast Interactive Capital and Interwest Partners. Find us on Facebook at http://www.facebook.com/carwoo and on Twitter at twitter.com/carwoo.