SANTA MONICA, Calif., June 16 /PRNewswire/ -- Following a strong May, manufacturers continue to put a charge into their Spring/Summer sales by extending discounts and customer incentives. According the June TrueTrends by TrueCar Report, not only will discounts continue to remain high, the domestic manufacturers will lead the way with brand discounts topping 10% across the board. Buyers looking to score a Chevrolet, Ford, GMC, Chrysler or Lincoln will be able to do so with the potential for great prices.
The June 2010 TrueTrends Report includes the following highlights:
- June 30th will be the day consumers can expect the best buys for the month, with a projected 9.05% discount from MSRP. The first half of July will see steady discounts over 7%. July 4th should also be a good buying day, with discounts over 7.5% and the possibility of getting more from holiday-minded dealers.
- The biggest discounts of the month on 2010 models by body type are forecasted as follows:
Top 2010 Models by Body Type for June
% Below MSRP
Chevrolet Silverado 1500
Jeep Grand Cherokee
Hyundai Elantra Touring
- The top three largest incentives available are all on luxury models. The BMW M6 is offering $12,500 in dealer cash available at time of purchase. The Infiniti QX56 promises $6,000 and the Volvo XC70 provides a $5,000 incentive. These are June incentives and could change for July.
- Convertibles, wagons and coupes are where the best potential inventory-based discounts will be seen. On average, convertibles are staying in inventory for 65 days, while wagons and coupes are on-lot for 62 days. Meanwhile, SUVs continue to move off the lots quickly, with an average inventory stay of 34 days. The Hyundai Sonata is a potential steal, remaining in inventory at an average of 166 days. Good luck finding a GMC Terrain, which has an average stay of 13 days.
- BMW is leading the way in sales of 2011 models, with 47.7% of their month's sales coming on 2011 models. Most of BMW's offerings are available in 2011 models, including the 3, 5 and 7 Series, M3, X5, X6 and Z4.
"Crossovers are the hot commodity as the summer car buying season kicks into gear, with high consumer demand and relatively low inventory," said Jesse Toprak, VP of Industry, Trends and Insights for TrueCar.com. "Buyers can still find some great deals, particularly if they're in the market for a large truck or a sedan."
TrueCar Price Flex Score, Greatest Discounts and Days in Inventory
TrueCar uses several methods to identify the best new car deals of the month. Not only does TrueCar track vehicles with the greatest discounts, but the TrueCar Price Flex Score measures how elastic the transaction price is for a particular model. A high Flex Score means a possibility of a great swing (high or low) in the actual sale price from MSRP, while a low Flex Score means the price is far less negotiable and that the transaction price range is much narrower. Consumers have the best chance of obtaining a discount with the most flexible scores.
TrueCar Projections for June
Most Flexible 2010 Models
Hyundai Elantra Touring
Toyota Tundra 2WD
The TrueTrends Report also tracks the Average Days in Inventory by make/model and body type. The longer a vehicle is in inventory, the more likely a dealer is willing to offer a discount. TrueTrends provides this Average Days in Inventory information to consumers, adding yet another layer of data beyond just the average prices so they can get the best deals possible.
2011 Vehicles: Longest Days in Inventory
Days in Inv
Toyota Camry Hybrid
Mercedes Benz SL550
The June TrueTrends Report can be read in its entirety on the Truth Blog at TrueCar.com.
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 car dealers, respected dealer management system (DMS) providers, and well-known data aggregators 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.
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