New Car Transaction Prices in August 2013 Up 3.2 Percent, Industry Average and Five OEMs Reach New Highs; Incentives Drop Slightly from Last Year, According to TrueCar

Chrysler, Ford, Honda, Nissan and VW all reach new high Average Transaction Prices

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Sep 04, 2013, 06:00 ET

SANTA MONICA, Calif., Sept. 4, 2013 /PRNewswire/ -- TrueCar, Inc. the automotive pricing information and analysis company that creates a better buying experience for dealers and consumers, estimated today that the average transaction price (ATP) for light vehicles in the U.S. was $31,252 – a record high – in August 2013, up $978 (3.2 percent) over August 2012; and up $164 (0.5 percent) from July 2013.

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The industry's average transaction price for new vehicles hit an all-time high, fueled by five automakers -- Chrysler, Ford, Honda, Nissan and Volkswagen – that all achieved record highs for their average transaction price in August. The previous industry record was $31,228, set in December 2012.

"Historically low interest rates as well as very attractive lease specials fueled by high resale values are enabling consumers to buy more expensive vehicles while still keeping payments at affordable levels," said Jesse Toprak, senior analyst for TrueCar. "It's good day at the office for the manufacturers when the sales continue to grow double digits while transaction prices reach record highs."

Manufacturer	August 2013 Transaction Price	July 2013 Transaction Price	August 2012 Transaction Price	Percent Change August 2012 to August 2013	Percent Change July 2013 to August 2013
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)	$30,317	$29,814	$29,596	2.4%	1.7%
Ford (Ford, Lincoln)	$33,460	$33,207	$31,304	6.9%	0.8%
GM (Buick, Cadillac, Chevrolet, GMC)	$33,492	$33,364	$32,114	4.3%	0.4%
Honda (Acura, Honda)	$27,221	$27,208	$26,767	1.7%	0.0%
Hyundai/Kia	$22,418	$22,465	$23,392	-4.2%	-0.2%
Nissan (Nissan, Infiniti)	$28,513	$28,265	$28,080	1.5%	0.9%
Toyota (Lexus, Scion, Toyota)	$29,068	$29,139	$28,847	0.8%	-0.2%
Volkswagen (Audi, Porsche, Volkswagen)	$34,317	$33,614	$33,833	1.4%	2.1%
Industry	$31,252	$31,088	$30,274	3.2%	0.5%

In addition, TrueCar estimated that the average incentive for light vehicles was $2,477 in August 2013, up $9 (0.4 percent) from August 2012; and down $67 (-2.6%) from July 2013.

Manufacturer	August 2013 Incentives	July 2013 Incentives	August 2012 Incentives	Percent Change August 2012 to August 2013	Percent Change July 2013 to August 2013
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)	$2,987	$3,009	$ 3,277	-8.8%	-0.7%
Ford (Ford, Lincoln)	$2,949	$2,985	$ 2,630	12.1%	-1.2%
GM (Buick, Cadillac, Chevrolet, GMC)	$3,469	$3,590	$ 3,094	12.1%	-3.4%
Honda (Acura, Honda)	$1,498	$1,768	$ 2,419	-38.1%	-15.2%
Hyundai/Kia	$1,584	$1,620	$ 1,188	33.4%	-2.2%
Nissan (Nissan, Infiniti)	$2,301	$2,560	$ 2,762	-16.7%	-10.1%
Toyota (Lexus, Scion, Toyota)	$1,863	$1,781	$ 1,873	-0.5%	4.6%
Volkswagen (Audi, Porsche, Volkswagen)	$2,461	$2,546	$ 2,096	17.4%	-3.3%
Industry	$2,477	$2,544	$ 2,468	0.4%	-2.6%

TrueCar estimated the ratio of incentives to average transaction price for light vehicles was 7.9 percent in August, down from 8.2 percent in July 2012 and down from 8.2 in July 2013.

Manufacturer	August 2013 Incentives/Avg. Transaction Price	July 2013 Incentives/Avg. Transaction Price	August 2012 Incentives/ Avg. Transaction Price	Percent Change August 2012 to August 2013	Percent Change July 2013 to August 2013
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)	9.9%	10.1%	11.1%	-1.2%	-0.2%
Ford (Ford, Lincoln)	8.8%	9.0%	8.4%	0.4%	-0.2%
GM (Buick, Cadillac, Chevrolet, GMC)	10.4%	10.8%	9.6%	0.7%	-0.4%
Honda (Acura, Honda)	5.5%	6.5%	9.0%	-3.5%	-1.0%
Hyundai/Kia	7.1%	7.2%	5.1%	2.0%	-0.1%
Nissan (Nissan, Infiniti)	8.1%	9.1%	9.8%	-1.8%	-1.0%
Toyota (Lexus, Scion, Toyota)	6.4%	6.1%	6.5%	-0.1%	0.3%
Volkswagen (Audi, Porsche, Volkswagen)	7.2%	7.6%	6.2%	1.0%	-0.4%
Industry	7.9%	8.2%	8.2%	-0.2%	-0.3%

About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles, and analyzes car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold more than 900,000 vehicles across the country. Its national network of more than 6,500 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

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 without limitation, the 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.

SOURCE TrueCar