Vehicle transaction prices continue dropping slightly, but remain high
(September 1, 2011) SANTA MONICA, Calif. — TrueCar.com estimated today that the average transaction price for light vehicles in the United States was $29,539 in August, up $388 (1.3 percent) from August 2010 and down $19 (0.1 percent) from July 2011.
"Consumer confidence, the fluctuating stock market and Hurricane Irene really dampened August sales," said Jesse Toprak, VP 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."
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Transaction Pricing Forecast |
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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% |
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|
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% |
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In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,663 in August 2011, down $109 (3.9 percent) from August 2010 and up $78 (3.0 percent) from July 2011.
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Incentive Spending Forecast |
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Manufacturer |
August 2011 Incentives |
July 2011 Incentives |
August 2010 Incentives |
Percent Change August 2010 to August 2011 |
Percent Change July 2011 to August 2011 |
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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% |
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|
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% |
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|
Industry |
$2,663 |
$2,584 |
$2,772 |
-3.9% |
3.0% |
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