Transaction Prices Continue to Rise, Up In October 2012; Industry Incentives Continue Decline According to TrueCar.com

SANTA MONICA, Calif., Nov. 1, 2012 /PRNewswire/ -- TrueCar, the authority on car pricing information, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $30,486 in October 2012, up $336 (1.1 percent) from October 2011 and up $204 (0.7 percent) from September 2012.

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"Transaction prices in October have remained just as stable as the sales rate of automakers have maintained incentives spending discipline throughout the year," said Jesse Toprak, Senior Analyst at TrueCar. "Prices are expected to remain high as consumers continue to gravitate towards technology enriched vehicles."

In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,353 in October 2012, down $140 (5.6 percent) from October 2011 and down $71 (2.9 percent) from September 2012.

Toprak continues, "Incentives are at their lowest levels in more than a year as automakers have been able to offer very attractive lease and finance specials at a very low cost, thanks to the historically low interest rates and high residual values."

TrueCar.com estimated that the ratio of incentives to average transaction price for light-vehicles was 7.7 percent in October 2012, down from 8.3 percent in October 2011 and up from 8.0 percent in September 2012.

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 identically-equipped new cars in their geographic area. ALG, a subsidiary of TrueCar, is 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 and compiles car-buying information unlike anybody in the industry.  This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country.  Its national network of more than 4,700 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 and become a fan of TrueCar on Facebook. 

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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