September Average Transaction Price Highest Since 2013
Cars.com reports ATP clears $30k mark for second time this year
CHICAGO, Oct. 1, 2014 /PRNewswire/ -- Cars.com reports today that September's Average Transaction Price (ATP) for new light-vehicle sales in the United States was $30,340, down 0.8 percent (-$252) from September 2013, but up 2.3 percent ($670) from last month.
"Generous end-of-summer clearance deals resulted in significant year-over-year increases in incentive spending; however, industry ATPs have remained high," said Jesse Toprak, chief analyst at Cars.com. "We expect trends in incentive spending to reverse in the fourth quarter as new 2015 model year vehicles arrive at showrooms in larger numbers, resulting in fewer incentives and improved ATPs."
Both General Motors and Chrysler are projected to report their highest ATPs ever, while Hyundai/Kia, Ford and Toyota are all expected to see healthy month-over-month increases in ATPs.
Incentive spending in September is projected to increase 16.5 percent ($414) year-over-year, but drop 2.5 percent (-$74) compared to August. The average incentive amount for light-vehicles this month is expected to be $2,930.
Each of the Big 8 automakers have increased year-over-year spending, including Honda and Nissan, which are projected to raise year-over-year incentives by 47.2 percent ($697) and 43.5 percent ($916), respectively. Despite record ATPs, General Motors had its highest month of incentive spending since November 2009 at an average of $3,860 per vehicle.
| Manufacturer |
September 2014 Forecast Average Transaction Price |
August 2014 Average Transaction Price |
September 2013 Average Transaction Price |
Percent Change September 2013 to September 2014 |
Percent Change August 2014 to September 2014 |
| Fiat Chrysler |
$ 31,796 |
$ 31,374 |
$ 30,589 |
3.9% |
1.3% |
| Ford |
$ 32,141 |
$ 31,442 |
$ 33,752 |
-4.8% |
2.2% |
| GM |
$ 35,742 |
$ 34,395 |
$ 34,108 |
4.8% |
3.9% |
| Honda |
$ 25,270 |
$ 25,249 |
$ 27,614 |
-8.5% |
0.1% |
| Hyundai/Kia |
$ 22,875 |
$ 22,614 |
$ 22,296 |
2.6% |
1.2% |
| Nissan |
$ 24,459 |
$ 24,621 |
$ 28,731 |
-14.9% |
-0.7% |
| Toyota |
$ 28,103 |
$ 27,568 |
$ 29,270 |
-4.0% |
1.9% |
| Volkswagen |
$ 36,896 |
$ 36,780 |
$ 34,726 |
6.2% |
0.3% |
| Industry |
$ 30,340 |
$ 29,670 |
$ 30,592 |
-0.8% |
2.3% |
| Manufacturer |
September 2014 Forecast Incentives |
August 2014 Incentives |
September 2013 Incentives |
Percent Change September 2013 to September 2014 |
Percent Change August 2014 to September 2014 |
| Fiat Chrysler |
$ 3,602 |
$ 3,845 |
$ 3,309 |
8.9% |
-6.3% |
| Ford |
$ 3,546 |
$ 3,595 |
$ 3,005 |
18.0% |
-1.4% |
| GM |
$ 3,860 |
$ 3,722 |
$ 3,248 |
18.8% |
3.7% |
| Honda |
$ 2,174 |
$ 2,090 |
$ 1,477 |
47.2% |
4.0% |
| Hyundai/Kia |
$ 1,868 |
$ 1,900 |
$ 1,806 |
3.4% |
-1.7% |
| Nissan |
$ 3,024 |
$ 3,185 |
$ 2,108 |
43.5% |
-5.1% |
| Toyota |
$ 2,122 |
$ 2,366 |
$ 1,785 |
18.9% |
-10.3% |
| Volkswagen |
$ 3,147 |
$ 3,183 |
$ 2,595 |
21.3% |
-1.1% |
| Industry |
$ 2,930 |
$ 3,004 |
$ 2,516 |
16.5% |
-2.5% |
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SOURCE Cars.com
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