Interest in New Family Cars and Stylish Sedans Increases

Certified Pre-Owned Asking Prices See First Large Decline of 2010

Oct 13, 2010, 09:00 ET from AutoTrader.com

ATLANTA, Oct. 13 /PRNewswire/ -- Interest in new four-door sedans increased on AutoTrader.com in September as four-door models from Toyota, Ford, Honda and Nissan saw increases in their rankings on AutoTrader.com's list of top 20 most-viewed vehicles compared to August 2010.  The top 20 new-car list also saw a wider variety in the types of new vehicles searched, with more family cars and stylish sedans emerging as major players in the top 20 list of most-searched new cars.  

On September's new car top 20 list, the big winner was the Toyota Corolla, jumping from the No. 41 most-viewed spot in August 2010 to the No. 7 most-viewed spot in September. Toyota also had another big jump with the Camry going from No. 12 to No. 2.  The other four-door vehicles making jumps on the top 20 most-viewed new-car list were the Ford Fusion, up from No. 23 in August to No. 17 in September; the Nissan Altima, up from No. 21 to No. 11; the Honda Accord, up from No. 11 to No. 8; and the Honda Civic up from No. 14 to No. 12;

Interest in the new 2011 Ford Escape, which has gotten many positive reviews, helped push views of that compact SUV up from No. 39 in September 2010 to No. 16 on the August 2010 top 20 most-viewed new cars list.

New Car Prices Rebound; CPO Prices Decline

Average asking prices for new vehicles rebounded after a notable decline in August, pointing to more stability in the new car market. Prices rose for nearly three-fourths of the top 20 most-viewed new cars, with three vehicles achieving more than a five percent increase year-over-year.  The Jeep Grand Cherokee gained 6.8% from $35,315 in September 2009 to $37,728 last month; the price for the Dodge Ram 2500 increased 7.5%, moving from $43,348 to $46,602; and the Chevrolet Corvette was the big price winner, going from $64,293 to $69,690, an increase of 8.4%.  

In the list of most-viewed used cars, average asking prices rose for 15 of the top 20. Of those, six vehicles—all trucks and SUVs—posted an increase greater than five percent, with double-digit percentage increases for the used Jeep Wrangler and used Dodge Ram 2500.  The price for the Wrangler went up 12.1% from $19,446 in September 2009 to $21,809 in September 2010.  The Ram 2500 saw an increase of 12.6%, moving from $23,464 to $26,425 in the same time period.

"Deciding between a new or used car hinges largely on price for most people, and there's been somewhat of a perfect storm brewing in favor of new cars lately," said AutoTrader.com President and CEO Chip Perry.  "The steady uptick in prices on used cars in 2010 combined with the availability of new-car incentives such as cash back and zero-percent financing have narrowed the price gap considerably on many popular models, giving consumers more reasons than ever to consider purchasing a new car vs. a late-model used car.  Even with new-car asking prices starting to stabilize, incentives can impact the total cost of the new-car purchase.  For some buyers, that can make a new car a more financially appealing decision than a used car."

Trends in the top 20 most-viewed Certified Pre-Owned (CPO) vehicles landed on the opposite side of the spectrum from those on the top 20 used car list.  For the first time in 2010, average asking prices for the majority of CPO vehicles (15 out of 20) declined.  Trucks and SUVs accounted for most of the price decreases over five percent, with the price of the Acura MDX falling the most, at 9% from $32,648 to $29,701 year-over-year.

Four of the five CPO vehicles that saw average asking prices increase from September 2009 to September 2010 were the ever-popular family cars and sedans: the price of the CPO Honda Accord gained a modest 0.18%, going from $18,228 to $18,260; the CPO BMW 3-Series price increased 1.7% from $29,878 to $30,406; the CPO Honda Civic almost 5%, from $16,061 to $16,862; and the CPO Toyota Camry claimed the biggest price increase of 9.6%, going from $17,401 to $19,077.  Rounding out the list was the CPO Toyota Tacoma, with an increase of 1.9%, moving from $22,543 to $22,973.

"Fluctuations in average asking prices can be caused by numerous factors, so it's likely too early to attribute the sudden drop in CPO asking prices to a single event," said Perry.  "However, there were sharp declines in leasing activity – where most CPO inventory comes from – in 2008 and 2009 as economic conditions constrained the car leasing business.  This helped create a sharp decline in CPO inventory and the spike in CPO pricing we saw over the past year.  The rebound in leasing activity as the economy has recovered may have created more supply of CPO inventory, partly explaining the drop in asking prices we're seeing."

During September, AutoTrader.com continued to hit record year-over-year traffic. The site attracted 15.7 million unique monthly visitors, which is a 12% lift over September 2009.

About AutoTrader.com

AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet's leading automotive marketplace and consumer information website.  AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers.  AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to view vehicles for sale, research and compare vehicles, review pricing and specials, and read auto-related content like buying and selling tips, auto maintenance tips and coverage of major auto shows and automotive trends.  Through innovative merchandising functionality such as multiple photos, videos, detailed descriptions and comprehensive research and compare tools, AutoTrader.com unites new and used car buyers and sellers online to improve the way people research, locate and advertise vehicles. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises.  The venture capital firm Kleiner Perkins Caufield & Byers and the private equity firm Providence Equity Partners are also investors.  For more information, please visit www.autotrader.com.

TOP 10 NEW VEHICLE BRANDS SEARCHED


MAKE

Rank 9/10

Rank 9/09

Ford

1

2

Chevrolet

2

1

Toyota

3

3

Dodge

4

6

Honda

5

4

Nissan

6

5

BMW

7

9

Jeep

8

16

GMC

9

10

Hyundai

10

7




TOP 10 USED VEHICLE BRANDS SEARCHED


MAKE

Rank 9/10

Rank 9/09

Ford

1

1

Chevrolet

2

2

Toyota

3

3

Dodge

4

4

BMW

5

5

Nissan

6

6

Honda

7

7

Mercedes-Benz

8

8

Jeep

9

9

GMC

10

10




NEW CARS


MAKE

MODEL

VDP Rank 9/10

VDP Rank 8/10

VDP Rank 9/09

Avg.  Price 9/10

Avg.  Price 9/09

Avg. Price % Change

Ford

F-150

1

2

4

37,366

36,241

3.20%

Toyota

Camry

2

12

9

24,625

24,692

-0.27%

Ford

Mustang

3

1

2

34,236

33,636

1.78%

BMW

3 Series

4

4

6

47,374

46,151

2.65%

Chevrolet

Silverado 1500

5

5

5

33,695

33,122

1.73%

Dodge

Ram 1500

6

9

14

35,645

35,974

-0.91%

Toyota

Corolla

7

41

17

18,335

18,335

0.00%

Honda

Accord

8

11

3

25,988

25,696

1.14%

Chevrolet

Camaro

9

3

1

33,351

36,034

-7.45%

Ford

F-250

10

7

16

46,249

45,035

2.70%

Nissan

Altima

11

21

8

24,316

24,622

-1.24%

Honda

Civic

12

14

7

19,816

20,043

-1.13%

Jeep

Wrangler

13

10

10

29,889

28,749

3.97%

Chevrolet

Corvette

14

6

13

69,690

64,293

8.39%

Jeep

Grand Cherokee

15

8

75

37,728

35,315

6.83%

Ford

Escape

16

39

32

27,396

26,521

3.30%

Ford

Fusion

17

23

24

25,651

25,729

-0.30%

Toyota

Tacoma

18

25

18

27,097

26,675

1.58%

GMC

Sierra 1500

19

20

21

36,151

35,119

2.94%

Dodge

Ram 2500

20

18

46

46,602

43,348

7.51%




USED CARS


MAKE

MODEL

VDP Rank 9/10

VDP Rank 8/10

VDP Rank 9/09

Avg.  Price 9/10

Avg.  Price 9/09

% Change

Ford

F-150

1

1

1

20,357

19,619

3.76%

BMW

3-Series

2

2

2

25,307

26,203

-3.42%

Chevrolet

Silverado 1500

3

3

3

19,963

18,848

5.92%

Ford

Mustang

4

4

4

18,173

17,471

4.02%

Ford

F-250

5

5

5

24,757

23,138

7.00%

Honda

Accord

6

6

6

15,747

15,728

0.12%

Dodge

Ram 1500

7

7

7

18,644

17,503

6.52%

Jeep

Wrangler

8

8

11

21,809

19,446

12.15%

Chevrolet

Tahoe

9

10

10

25,295

24,923

1.49%

Honda

Civic

10

9

8

13,551

13,572

-0.15%

Chevrolet

Silverado 2500

11

12

12

23,539

22,068

6.67%

Infiniti

G35/37

12

11

9

22,701

22,700

0.00%

Dodge

Ram 2500

13

13

13

26,425

23,464

12.62%

Toyota

Tacoma

14

14

16

19,342

19,292

0.26%

BMW

5-Series

15

17

15

30,238

31,408

-3.73%

Nissan

Altima

16

15

14

14,952

14,515

3.01%

Jeep

Grand Cherokee

17

16

17

16,459

16,039

2.62%

Audi

A4

18

18

18

20,857

20,438

2.05%

Toyota

Tundra

19

19

21

22,593

22,691

-0.43%

Toyota

Camry

20

21

23

15,299

16,302

-6.15%




CERTIFIED PRE-OWNED


MAKE

MODEL

VDP Rank 9/10

VDP Rank 8/10

VDP Rank 9/09

Avg.  Price 9/10

Avg.  Price 9/09

% Change

BMW

3-Series

1

1

1

30,406

29,878

1.77%

Honda

Accord

2

2

2

18,260

18,228

0.18%

Chevrolet

Silverado 1500

3

3

3

23,181

24,438

-5.14%

Ford

F-150

4

5

4

23,814

25,328

-5.98%

Toyota

Tundra

5

4

5

25,119

25,903

-3.03%

Chevrolet

Tahoe

6

7

6

31,138

33,855

-8.03%

Toyota

Camry

7

6

9

19,077

17,401

9.63%

Toyota

Tacoma

8

10

12

22,973

22,543

1.91%

BMW

5-Series

9

11

7

36,021

36,830

-2.20%

Audi

A4

10

8

8

25,704

26,806

-4.11%

Honda

Civic

11

9

11

16,862

16,061

4.99%

Ford

Mustang

12

13

13

20,297

21,837

-7.05%

Acura

TL

13

12

10

26,147

26,436

-1.09%

Toyota

Highlander

14

15

14

23,967

25,349

-5.45%

Acura

MDX

15

18

17

29,701

32,648

-9.03%

Volkswagen

Jetta

16

14

18

16,023

16,321

-1.83%

Toyota

4Runner

17

17

15

24,606

25,379

-3.05%

Honda

Pilot

18

16

20

23,436

25,243

-7.16%

BMW

X5

19

24

19

39,567

42,236

-6.32%

GMC

Sierra 1500

20

20

16

24,027

25,478

-5.70%




SOURCE AutoTrader.com



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