New Vehicle Transaction Prices in March Up 1.2 Percent Year-Over-Year, According to TrueCar

Average Incentive Reaches More Than $2,700 Per Vehicle

PR Newswire

SANTA MONICA, Calif., April 1, 2014 /PRNewswire/ -- TrueCar, the negotiation-free car buying platform, estimated today that the average transaction price (ATP) for light vehicles in the U.S. was $30,986 in March 2014, up $370 (1.2 percent) from March 2013 and down $366 (-1.2 percent) from February 2014. 

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"Consumers continue to be unmotivated despite YOY increases in incentives" said Larry Dominique, President of ALG and Executive Vice President of TrueCar.  "Historically high transaction prices may be testing the boundaries of consumer affordability."

Average Transaction Price

Manufacturer

March

2014

March  2013

February 2014

Percent Change vs. Mar. 2013

Percent Change vs. Feb. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$31,717

$29,208

$30,405

8.6%

4.3%

Ford (Ford, Lincoln)

$32,661

$32,270

$33,601

1.2%

-2.8%

GM (Buick, Cadillac, Chevrolet, GMC)

$33,954

$32,620

$33,268

4.1%

2.1%

Honda (Acura, Honda)

$29,202

$27,096

$27,366

7.8%

6.7%

Hyundai/Kia

$24,070

$22,934

$23,149

5.0%

4.0%

Nissan (Nissan, Infiniti)

$25,910

$27,800

$26,653

-6.8%

-2.8%

Toyota (Lexus, Scion, Toyota)

$30,946

$29,346

$29,949

5.5%

3.3%

Volkswagen (Audi, Porsche, Volkswagen)

$37,152

$36,567

$39,313

1.6%

-5.5%

Industry

$30,986

$30,616

$31,352

1.2%

-1.2%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,773 in March, up $203 (7.9 percent) from March 2013 and up $71 (2.6 percent) from February 2014.

Incentive Spending

Manufacturer

March

 2014

Forecast

March

2013

February 2014

Percent Change vs. Mar. 2013

Percent Change vs. Feb. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$3,349

$3,323

$3,248

0.8%

3.1%

Ford (Ford, Lincoln)

$3,260

$2,944

$3,184

10.7%

2.4%

GM (Buick, Cadillac, Chevrolet, GMC)

$3,719

$3,697

$3,514

0.6%

5.8%

Honda (Acura, Honda)

$1,991

$1,568

$1,923

27.0%

3.6%

Hyundai/Kia

$1,965

$1,351

$1,929

45.4%

1.9%

Nissan (Nissan, Infiniti)

$2,889

$2,757

$2,787

4.8%

3.7%

Toyota (Lexus, Scion, Toyota)

$1,864

$1,570

$1,802

18.7%

3.4%

Volkswagen (Audi, Porsche, Volkswagen)

$2,578

$2,403

$2,514

7.3%

2.5%

Industry

$2,773

$2,570

$2,702

7.9%

2.6%







TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.9 percent in March 2014, up 6.6 percent from March 2013 and up 3.8 percent from February 2014.  Hyundai experiences a notable increase in the incentive to average transaction price ratio in March, up 39% YOY.

Incentive to ATP Ratio

Manufacturer

March

2014 Forecast

March

2013

February 2014

Percent Change vs. Mar. 2013

Percent Change vs. Feb. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

10.6%

11.4%

10.7%

-7.2%

-1.2%

Ford (Ford, Lincoln)

10.0%

9.1%

9.5%

9.4%

5.3%

GM (Buick, Cadillac, Chevrolet, GMC)

11.0%

11.3%

10.6%

-3.4%

3.7%

Honda (Acura, Honda)

6.8%

5.8%

7.0%

17.8%

-3.0%

Hyundai/Kia

8.2%

5.9%

8.3%

38.6%

-2.0%

Nissan (Nissan, Infiniti)

11.2%

9.9%

10.5%

12.4%

6.6%

Toyota (Lexus, Scion, Toyota)

6.0%

5.3%

6.0%

12.6%

0.1%

Volkswagen (Audi, Porsche, Volkswagen)

6.9%

6.6%

6.4%

5.6%

8.5%

Industry

8.9%

8.4%

8.6%

6.6%

3.8%

 

About TrueCar
TrueCar is the negotiation-free car buying platform. TrueCar empowers car buyers by giving them transparent insight into what others actually paid, upfront pricing information, and a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is buying a car is painful and buyers fear they are going to overpay. TrueCar's transparent upfront pricing information and guaranteed savings certificate make the car buying process simple so buyers never overpay. TrueCar's mission is to prove that truth and transparency is a more profitable way of doing business -- starting with automotive. Its national network of more than 7,000 TrueCar Certified Dealers is committed to providing negotiation-free savings for some of the country's largest membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is a privately held company headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

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