New Car Transaction Prices in May 2013 Up 0.6 Percent, with Ford Reaching New Company Record; Incentives Drop 3.0 Percent from Last Year, According to TrueCar

SANTA MONICA, Calif., June 3, 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 $30,978 in May 2013, up $618 (2.0 percent) over May 2012; and up $174 (0.6 percent) from April 2013.

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"Consumer confidence is the highest it's been since 2007, helping keep demand for new vehicles very stable, and moving transaction prices upward overall," said Jesse Toprak, senior analyst for TrueCar. "Ford enjoyed a 4.5 percent gain in their average transaction price over last year, with the recovering housing market fueling the resurgence of demand for large trucks like the F-150. This, along with a 40 percent increase in Explorer sales, has moved their average transaction prices above $33,000, an all-time high ATP for the brand."

In addition, TrueCar estimated that the average incentive for light vehicles was $2,482 in May 2013, down $77 (3.0 percent) from May 2012; and down $44 (-1.7%) from April 2013.

TrueCar estimated the ratio of incentives to average transaction price for light vehicles was 8.0 percent in May, down from 8.4 percent in May 2012 and down from 8.2 percent seen in April 2013.

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.