TrueCar: New-Vehicle Transaction Prices Still Near Record High
While still extending a downward push, TrueCar discovered it did take a little more money to move new metal last month than it did a year earlier.
The site determined the average transaction price for light vehicles in the United States was $29,539 in August, up $388 or 1.3 percent from last August.
While the year-over-year comparison showed an increase, TrueCar pointed out the August average actually was $19 lower or 0.1 percent down from July
“Consumer confidence, the fluctuating stock market and Hurricane Irene really dampened August sales,” stated Jesse Toprak, vice president of industry trends and insights for TrueCar.com.
“Transaction prices have now declined the last three months after six months of increases, but we’re still near record high prices for new cars,” Toprak continued.
Furthermore, TrueCar estimated that the average incentive for light-vehicles was $2,663 in August, down $109 or 3.9 percent the same month last year but up $78 or 3.0 percent from July.
TrueCar.com also projected that the ratio of incentives to average transaction price for light-vehicles was 9.0 percent in August, down from 9.5 percent in of last year and up from 8.7 percent in July.
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Transaction Pricing Trends
Manufacturer |
August 2011 Transaction Price |
July 2011 Transaction Price |
August 2010 Transaction Price |
Percent Change August 2010 to August 2011 |
Percent Change July 2011 to August 2011 |
Chrysler (Chrysler, Dodge, Fiat, Jeep, Ram) |
$28,524 |
$28,541 |
$28,397 |
0.4% |
-0.1% |
Ford (Ford, Lincoln) |
$32,456 |
$32,547 |
$31,337 |
3.6% |
-0.3% |
GM (Buick, Cadillac, Chevrolet, GMC) |
$33,371 |
$33,629 |
$33,351 |
0.1% |
-0.8% |
Honda (Acura, Honda) |
$25,700 |
$25,766 |
$24,926 |
3.1% |
-0.3% |
Hyundai/Kia |
$19,238 |
$19,133 |
$18,646 |
3.2% |
0.5% |
Nissan (Nissan, Infiniti) |
$27,261 |
$27,397 |
$27,084 |
0.7% |
-0.5% |
Toyota (Lexus, Scion, Toyota) |
$25,691 |
$25,655 |
$25,297 |
1.6% |
0.1% |
Industry |
$29,539 |
$29,558 |
$29,151 |
1.3% |
-0.1% |
Incentive Spending
Manufacturer |
August 2011 Incentives |
July 2011 Incentives |
August 2010 Incentives |
Percent Change August 2010 to August 2011 |
Percent Change July 2011 to August 2011 |
Chrysler (Chrysler, Dodge, Fiat, Jeep, Ram) |
$3,511 |
$3,419 |
$3,719 |
-5.6% |
2.7% |
Ford (Ford, Lincoln) |
$2,722 |
$2,680 |
$2,969 |
-8.3% |
1.6% |
GM (Buick, Cadillac, Chevrolet, GMC) |
$3,207 |
$3,190 |
$3,485 |
-8.0% |
0.5% |
Honda (Acura, Honda) |
$2,101 |
$2,079 |
$2,275 |
-7.6% |
1.1% |
Hyundai/Kia |
$1,361 |
$1,277 |
$1,840 |
-26.0% |
6.6% |
Nissan (Nissan, Infiniti) |
$2,903 |
$2,618 |
$3,104 |
-6.5% |
10.9% |
Toyota (Lexus, Scion, Toyota) |
$2,405 |
$2,353 |
$2,038 |
18.0% |
2.2% |
Industry |
$2,663 |
$2,584 |
$2,772 |
-3.9% |
3.0% |
Ratio of Incentives to Average Transaction Price
Manufacturer |
August 2011 Incentives/Avg. Transaction Price |
July 2011 Incentives/ Avg. Transaction Price |
August 2010 Incentives/ Avg. Transaction Price |
Percent Change August 2010 to August 2011 |
Percent Change July 2011 to August 2011 |
Chrysler (Chrysler, Dodge, Fiat, Jeep, Ram) |
12.3% |
12.0% |
13.1% |
-0.8% |
0.3% |
Ford (Ford, Lincoln) |
8.4% |
8.2% |
9.5% |
-1.1% |
0.2% |
GM (Buick, Cadillac, Chevrolet, GMC) |
9.6% |
9.5% |
10.4% |
-0.8% |
0.1% |
Honda (Acura, Honda) |
8.2% |
8.1% |
9.1% |
-1.0% |
0.1% |
Hyundai/Kia |
7.1% |
6.7% |
9.9% |
-2.8% |
0.4% |
Nissan (Nissan, Infiniti) |
10.6% |
9.6% |
11.5% |
-0.8% |
1.1% |
Toyota (Lexus, Scion, Toyota) |
9.4% |
9.2% |
8.1% |
1.3% |
0.2% |
Industry |
9.0% |
8.7% |
9.5% |
-0.5% |
0.3% |