New Car Transaction Prices in June 2013 Up 2.0 Percent to $31,125, 2nd Highest Average Transaction Price ever; Ford, Honda Reach New Highs, According to TrueCar Incentives Drop 0.6 Percent from Last Year; Down 4.4% since last month

SANTA MONICA, Calif., July 2, 2013 /PRNewswire/ -- TrueCar, Inc. the automotive pricing information and analysis company that creates a better buying experience for dealers and consumers, estimated today that the average transaction price (ATP) for light vehicles in the United States was $31,125 in June 2013, up $617 (2.0 percent) over June 2012; and up $147 (0.5 percent) from May 2013.

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"Consumer confidence is continuing to fuel demand for new vehicles and consumers' preference for high-contented vehicles is sending prices higher," said Jesse Toprak, senior analyst for TrueCar. "Ford and Honda are both at record highs, and GM is $1 shy of its highest-ever average transaction price, which has brought the industry average to its second-highest level ever. Our data shows the only month with a higher industry average transaction price was December of last year."

Manufacturer

June 2013 Transaction Price

May 2013 Transaction Price

June 2012 Transaction Price

Percent Change June 2012 to June 2013

Percent Change May 2013 to June 2013

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

$29,876

$29,964

$ 29,590

1.0%

-0.3%

Ford (Ford, Lincoln)

$33,272

$33,089

$ 31,947

4.1%

0.6%

GM (Buick, Cadillac, Chevrolet, GMC)

$33,218

$33,147

$ 32,824

1.2%

0.2%

Honda (Acura, Honda)

$27,165

$27,082

$ 27,055

0.4%

0.3%

Hyundai/Kia

$22,529

$22,608

$ 22,121

1.8%

-0.3%

Nissan (Nissan, Infiniti)

$28,311

$27,816

$ 28,283

0.1%

1.8%

Toyota (Lexus, Scion, Toyota)

$29,177

$29,004

$ 27,910

4.5%

0.6%

Volkswagen (Audi, Porsche, Volkswagen)

$33,802

$33,698

$ 33,368

1.3%

0.3%

Industry

$31,125

$30,978

$ 30,508

2.0%

0.5%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,537 in June 2013, down $16 (0.6 percent) from June 2012; and down $118 (-4.4%) from May 2013.

Manufacturer

June 2013 Incentives

May 2013 Incentives

June 2012 Incentives

Percent Change June 2012 to June 2013

Percent Change May 2013 to June 2013

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

$  3,103

$  3,262

$   3,241

-4.3%

-4.9%

Ford (Ford, Lincoln)

$  2,964

$  3,075

$   2,517

17.7%

-3.6%

GM (Buick, Cadillac, Chevrolet, GMC)

$  3,513

$  3,651

$   3,240

8.4%

-3.8%

Honda (Acura, Honda)

$  1,690

$  1,811

$   2,300

-26.5%

-6.7%

Hyundai/Kia

$  1,379

$  1,528

$   1,253

10.1%

-9.8%

Nissan (Nissan, Infiniti)

$  2,496

$  2,805

$   3,060

-18.4%

-11.0%

Toyota (Lexus, Scion, Toyota)

$  1,660

$  1,804

$   1,810

-8.3%

-8.0%

Volkswagen (Audi,  Porsche, Volkswagen)

$  2,581

$  2,564

$   2,888

-10.6%

0.7%

Industry

$  2,537

$  2,655

$   2,553

-0.6%

-4.4%

TrueCar estimated the ratio of incentives to average transaction price for light vehicles was 8.2 percent in June, down from 8.4 percent in June 2012 and down from 8.6 percent in May 2013.

Manufacturer

June 2013 Incentives/Avg. Transaction Price

May 2013 Incentives/Avg. Transaction Price

June 2012 Incentives/ Avg. Transaction Price

Percent Change June 2012 to June 2013

Percent Change May 2013 to June 2013

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

10.4%

10.9%

11.0%

-0.6%

-0.5%

Ford (Ford, Lincoln)

8.9%

9.3%

7.9%

1.0%

-0.4%

GM (Buick, Cadillac, Chevrolet, GMC)

10.6%

11.0%

9.9%

0.7%

-0.4%

Honda (Acura, Honda)

6.2%

6.7%

8.5%

-2.3%

-0.5%

Hyundai/Kia

6.1%

6.8%

5.7%

0.5%

-0.6%

Nissan (Nissan, Infiniti)

8.8%

10.1%

10.8%

-2.0%

-1.3%

Toyota (Lexus, Scion, Toyota)

5.7%

6.2%

6.5%

-0.8%

-0.5%

Volkswagen (Audi, Porsche, Volkswagen)

7.6%

7.6%

8.7%

-1.0%

0.0%

Industry

8.2%

8.6%

8.4%

-0.2%

-0.4%

About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers.  As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area.  TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles, and analyzes car-buying information unlike anybody in the industry.  This is why, since its founding in 2005, TrueCar dealer partners have sold nearly 700,000 vehicles across the country.  Its national network of more than 6,100 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

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 without limitation, the 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, Inc.



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