New Car Transaction Prices in September 2013 Up 5.2 Percent, Industry at Record High for 2nd Straight Month; Incentives Fall Slightly from Last Year, According to TrueCar GM, Honda, Nissan and VW all reach new high Average Transaction Prices

SANTA MONICA, Calif., Oct. 1, 2013 /PRNewswire/ -- TrueCar, Inc., an authority on new car pricing information, trends and forecasting, estimated today that the average transaction price (ATP) for light vehicles in the U.S. was a record-high $31,854 in September 2013, up $1,572 (5.2 percent) over September 2012; and up $602 (1.9 percent) from August 2013, the previous high mark for average transaction prices.

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Four automakers -- General Motors, Honda, Nissan and Volkswagen – all achieved record highs for their average transaction price in September.

"While September's sales didn't match those of the summer months, the prices buyers are paying continue at a record pace," said Jesse Toprak, senior analyst for TrueCar. "A higher number of 2014 model year vehicles arriving at the dealerships with much lower incentives and the continued appetite of consumers for well-equipped vehicles helped keep transaction prices at record levels."

 Manufacturer

September 2013 Transaction Price

August 2013 Transaction Price

September 2012 Transaction Price

Percent Change Sept. 2012 to Sept. 2013

Percent Change August 2013 to Sept. 2013

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

$30,589

$30,317

$ 29,577

3.4%

0.9%

Ford (Ford, Lincoln)

$33,752

$33,460

$ 31,663

6.6%

0.9%

GM (Buick, Cadillac, Chevrolet, GMC)

$34,108

$33,492

$ 31,639

7.8%

1.8%

Honda (Acura, Honda)

$27,614

$27,221

$ 26,760

3.2%

1.4%

Hyundai/Kia

$22,296

$22,418

$ 23,283

-4.2%

-0.5%

Nissan (Nissan, Infiniti)

$28,731

$28,513

$ 27,877

3.1%

0.8%

Toyota (Lexus, Scion, Toyota)

$29,270

$29,068

$ 29,014

0.9%

0.7%

Volkswagen (Audi, Porsche, Volkswagen)

$34,726

$34,317

$ 31,967

8.6%

1.2%

Industry

$31,854

$31,252

$ 30,282

5.2%

1.9%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,382 in September 2013, down $14 (-0.6 percent) from September 2012; and down $120 (-4.8%) from August 2013.

Manufacturer

September 2013 Incentives

August 2013 Incentives

September 2012 Incentives

Percent Change Sept. 2012 to Sept. 2013

Percent Change August 2013 to Sept. 2013

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

$  3,020

$  3,041

$   3,281

-8.0%

-0.7%

Ford (Ford, Lincoln)

$  2,878

$  2,934

$   2,497

15.3%

-1.9%

GM (Buick, Cadillac, Chevrolet, GMC)

$  3,203

$  3,552

$   2,914

9.9%

-9.8%

Honda (Acura, Honda)

$  1,431

$  1,627

$   2,467

-42.0%

-12.1%

Hyundai/Kia

$  1,652

$  1,718

$   1,357

21.7%

-3.8%

Nissan (Nissan, Infiniti)

$  2,242

$  2,221

$   2,419

-7.3%

0.9%

Toyota (Lexus, Scion, Toyota)

$  1,661

$  1,831

$   1,855

-10.5%

-9.3%

Volkswagen (Audi, Porsche, Volkswagen)

$  2,530

$  2,676

$   2,116

19.5%

-5.5%

Industry

$  2,382

$  2,502

$   2,397

-0.6%

-4.8%

TrueCar estimated the ratio of incentives to average transaction price for light vehicles was 7.5 percent in September, down from 7.9 percent in September 2012 and down from 8.0 in August 2013.

Manufacturer

September 2013 Incentives/Avg. Transaction Price

August 2013 Incentives/Avg. Transaction Price

September 2012 Incentives/ Avg. Transaction Price

Percent Change Sept. 2012 to Sept. 2013

Percent Change August 2013 to Sept. 2013

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

9.9%

10.0%

11.1%

-1.2%

-0.2%

Ford (Ford, Lincoln)

8.5%

8.8%

7.9%

0.6%

-0.2%

GM (Buick, Cadillac, Chevrolet, GMC)

9.4%

10.6%

9.2%

0.2%

-1.2%

Honda (Acura, Honda)

5.2%

6.0%

9.2%

-4.0%

-0.8%

Hyundai/Kia

7.4%

7.7%

5.8%

1.6%

-0.3%

Nissan (Nissan, Infiniti)

7.8%

7.8%

8.7%

-0.9%

0.0%

Toyota (Lexus, Scion, Toyota)

5.7%

6.3%

6.4%

-0.7%

-0.6%

Volkswagen (Audi, Porsche, Volkswagen)

7.3%

7.8%

6.6%

0.7%

-0.5%

Industry

7.5%

8.0%

7.9%

-0.4%

-0.5%

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 more than 900,000 vehicles across the country.  Its national network of more than 6,500 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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