TrueCar.com Releases July TrueTrends™ Report

SANTA MONICA, Calif., July 16 /PRNewswire/ -- The sport/utility vehicle is making a strong comeback as shoppers return to the marketplace in search of stylish vehicles that offer better gas mileage but don't sacrifice utility, according to TrueCar.com, the leading source for new car pricing on the Internet.  The latest TrueTrends by TrueCar Report shows that SUVs are the fastest selling category of vehicles with luxury and mid-size SUV segments specifically being discounted less than the market average.

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According to TrueCar, SUV shoppers can expect to find discounts* up to 20% on models in this category.

"The recent uptick in demand for SUVs indicates that consumers have become immune to increasing gas prices and are willing to pay more for the comfort and space, despite the fragile economy," said Jesse Toprak, VP of Industry, Trends and Insights for TrueCar.com. "The love affair with SUVs isn't over yet, consumers just prefer they burn a little less gas and look pretty."

The July 2010 TrueTrends Report includes the following highlights:

• Of the Top 10 2010 vehicles "fewest days in inventory," the first nine are SUVs.  Topping the list is the Lexus LX 570, which is only on lots for an average 12 days.  Rounding out the top five are the GMC Terrain (14 days), the Chevrolet Equinox (14 days), the Toyota Highlander (15 days) and the Audi Q7 (15 days).
• The biggest discounts of the month on 2010 models by body type are forecasted as follows:

• The best day of the month to buy a car, as projected based on historical sales and short-term forecasts, is July 28, with a potential 12.5% discount (including applicable incentives).  This is the last Wednesday of the month, and leads to a solid weekend, with possible discounts high through the weekend and into the first half of August.
• BMW is leading the way in sales of 2011 models, with 67% 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.
• For the 2010 model year, domestic makes including Chevrolet, Ford, Mercury, GMC, and Chrysler offer the biggest discounts.  Foreign automakers including Toyota, Honda, BMW, and Kia are offering the biggest discounts on 2011 makes.

TrueCar Price Flex Score

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.  

The July TrueTrends Report can be read in its entirety on the Truth Blog at TrueCar.com.

About TrueCar

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.

*all discounts are based on national averages

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Jesse Toprak

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SOURCE TrueCar