Automobile transaction prices rise to record high
(December 2, 2011) SANTA MONICA, Calif. — TrueCar.com estimates that the average transaction price for light vehicles in the United States was $30,317 in November, up $1,163 (4.0 percent) from November 2010 and up $164 (0.5 percent) from October 2011. That's the highest level in sales history.
"Transaction prices have been creeping back up after a slight decline in August with average new vehicle prices over $30K," said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com. "We are going to see automakers really push incentives in December to finish the year off strong."
In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,534 in November 2011, down $14 (0.5 percent) from November 2010 and up $63 (2.5 percent) from October 2011.
Transaction Pricing Forecast
|
Manufacturer |
November 2011 Transaction Price |
October 2011 Transaction Price |
November 2010 Transaction Price |
Percent Change November 2010 to November 2011 |
Percent Change October 2011 to November 2011 |
|
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) |
$29,128 |
$28,585 |
$28,436 |
2.4% |
1.9% |
|
Ford (Ford, Lincoln) |
$32,174 |
$31,807 |
$30,027 |
7.2% |
1.2% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
$33,189 |
$33,025 |
$32,551 |
2.0% |
0.5% |
|
Honda (Acura, Honda) |
$26,730 |
$26,648 |
$25,421 |
5.2% |
0.3% |
|
Hyundai/Kia |
$21,384 |
$21,113 |
$19,408 |
10.2% |
1.3% |
|
Nissan (Nissan, Infiniti) |
$27,613 |
$27,354 |
$26,784 |
3.1% |
0.9% |
|
Toyota (Lexus, Scion, Toyota) |
$27,692 |
$27,376 |
$26,311 |
5.2% |
1.2% |
|
Industry |
$30,317 |
$30,153 |
$29,154 |
4.0% |
0.5% |
Incentive Spending Forecast
|
Manufacturer |
November 2011 Incentives |
October 2011 Incentives |
November 2010 Incentives |
Percent Change November 2010 to November 2011 |
Percent Change October 2011 to November 2011 |
|
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) |
$3,298 |
$3,111 |
$3,435 |
-4.0% |
6.0% |
|
Ford (Ford, Lincoln) |
$2,908 |
$2,855 |
$2,695 |
7.9% |
1.9% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
$3,126 |
$3,070 |
$3,153 |
-0.9% |
1.8% |
|
Honda (Acura, Honda) |
$2,260 |
$2,208 |
$1,995 |
13.3% |
2.4% |
|
Hyundai/Kia |
$1,070 |
$977 |
$1,626 |
-34.2% |
9.5% |
|
Nissan (Nissan, Infiniti) |
$2,764 |
$2,700 |
$2,636 |
4.9% |
2.4% |
|
Toyota (Lexus, Scion, Toyota) |
$1,800 |
$1,756 |
$2,122 |
-15.2% |
2.5% |
|
Industry |
$2,534 |
$2,471 |
$2,547 |
-0.5% |
2.5% |
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