Transaction Prices and Incentives Rise in February from Last Month According to TrueCar.com

Mar 01, 2011, 15:55 ET from TrueCar.com

SANTA MONICA, Calif., March 1, 2011 /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 $29,176 in February 2011, down $97 (0.3 percent) from February 2010 and up $132 (0.5 percent) from January 2011.

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"The industry average for incentives is the lowest for February since 2007," said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com.  "The perception of a pricing war and overindulgence of using incentives is exaggerated."

Transaction Pricing Forecast

Manufacturer

February 2011 Transaction Price

January 2011 Transaction Price

February 2010 Transaction Price

Percent Change February 2011 from February 2010

Percent Change February 2011 from January 2011

Chrysler

$28,086

$28,162

$27,828

0.9%

-0.3%

Ford

$31,853

$31,625

$31,336

1.6%

0.7%

GM

$32,965

$32,452

$33,634

-2.0%

1.6%

Honda

$24,827

$24,838

$24,876

-0.2%

0.0%

Hyundai

$20,372

$20,205

$20,025

1.7%

0.8%

Kia

$17,933

$17,945

$18,122

-1.0%

-0.1%

Nissan

$27,495

$27,350

$27,119

1.4%

0.5%

Toyota

$25,268

$25,213

$25,452

-0.7%

0.2%

Industry

$29,176

$29,044

$29,273

-0.3%

0.5%




In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,708 in February 2011, down $12 (0.4 percent) from February 2010 and up $129 (5.0 percent) from January 2011.

"Automakers are now using incentive programs that are much more favorable," continued Toprak. "They are no longer spending as much upfront by offering customer and dealer cash and are instead pushing low APR and leasing programs."

Incentive Spending Forecast

Manufacturer

February 2011 Incentives

January 2011 Incentives

February 2010 Incentives

Percent Change February 2011 from February 2010

Percent Change February 2011 from January 2011

Chrysler

$3,676

$3,414

$3,557

3.3%

7.7%

Ford

$2,571

$2,407

$2,816

-8.7%

6.8%

GM

$3,683

$3,663

$3,346

10.1%

0.5%

Honda

$2,111

$2,016

$1,817

16.2%

4.7%

Hyundai/Kia

$1,563

$1,375

$2,166

-27.9%

13.6%

Nissan

$2,706

$2,510

$3,048

-11.2%

7.8%

Toyota

$2,134

$1,962

$1,801

18.5%

8.8%

Industry

$2,708

$2,579

$2,720

-0.4%

5.0%




About TrueCar, Inc.

TrueCar Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs.  TrueCar.com is a transparent, visual publisher of new car transaction data.  TrueCar.com price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally.  TrueCar, Inc. works with a national network of nearly 5,000 Certified Dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation's largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers.  These partnerships include American Express, AAA, USAA and more than 60 others.  Collectively these audiences represent over 1M in-market customers each month.  TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco.  The company was founded in 2005 and has been profitable since 2009.  With nearly 200 percent year-over-year growth TrueCar has driven over 200,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information.

You can follow TrueCar on Twitter @truecar and become a fan of TrueCar on Facebook

 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.

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.

Jesse Toprak

https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=94534

SOURCE TrueCar.com



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