Transaction Prices Fall; Incentives Up for November According to TrueCar.com
SANTA MONICA, Calif., Dec. 1, 2010 /PRNewswire/ -- TrueCar.com, the authority on new car pricing, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $29,136 in November 2010, down $735 (2.5 percent) from November 2009 and down $435 (1.6 percent) from October 2010.
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"Cash for Clunkers pushed forward the sale of cheaper and more fuel-efficient cars last year, pushing luxury and SUV/truck buyers purchases into the fourth quarter," said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com. "This November, we're seeing a more balanced picture of the industry, even with a strong mix of truck and SUV sales."
Transaction Pricing Forecast | ||||||
Manufacturer | Nov. 2010 Transaction Price | Oct. 2010 Transaction Price | Nov. 2009 Transaction Price | Change Nov. 2010 to Nov. 2009 | Change Nov. 2010 to Oct. 2010 | |
$29,283 | $29,164 | $28,552 | 2.6% | 0.4% | ||
$32,033 | $31,886 | $32,017 | 0.1% | 0.5% | ||
$34,739 | $34,605 | $34,459 | 0.8% | 0.4% | ||
$25,164 | $25,094 | $25,465 | -1.2% | 0.3% | ||
$20,443 | $20,431 | $20,249 | 1.0% | 0.1% | ||
$18,611 | $18,504 | $18,490 | 0.7% | 0.6% | ||
$27,447 | $20,431 | $27,417 | 0.1% | 34.3% | ||
$25,238 | $25,200 | $25,751 | -2.0% | 0.1% | ||
Industry | $29,136 | $29,601 | $29,871 | -2.5% | -1.6% | |
In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,712 in November 2010, up $12 (0.4 percent) from November 2009 and up $162 (6.4 percent) from October 2010.
"Even though incentives appear to be slightly higher this year, automakers are becoming smarter by focusing on low APR and special lease programs – strategies with relatively low costs due to near zero interest rates and much improved residual values,” said Toprak.
Incentive Spending Forecast | ||||||
Manufacturer | Nov. 2010 Incentives | Oct. 2010 Incentives | Nov. 2009 Incentives | Change Nov. 2010 to Nov. 2009 | Change Nov. 2010 to Oct. 2010 | |
Chrysler | $3,452 | $3,400 | $3,550 | -2.8% | 1.5% | |
Ford | $2,942 | $2,750 | $2,650 | 11.0% | 7.0% | |
GM | $3,350 | $3,100 | $4,000 | -16.3% | 8.1% | |
Honda | $2,162 | $2,000 | $1,350 | 60.1% | 8.1% | |
Hyundai/Kia | $1,801 | $1,700 | $2,050 | -12.1% | 5.9% | |
Nissan | $2,764 | $2,550 | $2,700 | 2.4% | 8.4% | |
Toyota | $2,220 | $2,100 | $1,650 | 34.5% | 5.7% | |
Industry | $2,712 | $2,550 | $2,700 | 0.4% | 6.4% | |
About TrueCar
TrueCar is the authority in new car prices. We show car buyers and car dealers how much people actually paid for a particular car in a specific local area. With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious – using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers. Our innovative new car pricing service is offered free of charge on our website at www.truecar.com, on our mobile site at mobile.truecar.com, and via syndication of our tools and pricing data to leading automotive research sites throughout the web.
About TrueCar Data
TrueCar obtains data directly from numerous sources including automotive dealers, technology companies, data aggregators, and analytics companies within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. Our data is among the most timely and comprehensive in the industry, as we are able to process most car sales within a week of the actual sales date, and have a substantial fraction on the site within 48 hours of the actual sale. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
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.
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Jesse Toprak
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=94534
SOURCE TrueCar.com
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