New car transaction prices down first time in three years
(December 3, 2013) SANTA MONICA, Calif. — TrueCar.com estimated today that the average transaction price for light vehicles in the U.S. was $30,634 in November, down $198 from November 2012; and down $164 from October 2013. November 2013's drop in average transaction prices was the first year-over-year drop since December 2010, when ATPs fell 1.8 percent.
Three automakers — Chrysler, General Motors and Toyota — all achieved record highs for their average transaction price in November.
"Relatively higher levels of discounting are being used to clear out 2013 model year vehicles," said Jesse Toprak, senior analyst for TrueCar.com. "We expect transaction prices to continue to stay in record territory in the short term, as long as the fundamentals in the economy stay positive."
| Manufacturer | November 2013 Transaction Price |
October 2013 Transaction Price |
November 2012 Transaction Price |
Percent Change Nov. 2012 to Nov. 2013 |
Percent Change Oct. 2013 to Nov. 2013 |
|---|---|---|---|---|---|
| Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) |
$31,547 | $30,983 | $29,796 | 5.9% | 1.8% |
| Ford (Ford, Lincoln) | $33,562 | $33,986 | $32,543 | 3.1% | -1.2% |
| GM (Buick, Cadillac, Chevrolet, GMC) |
$34,896 | $34,672 | $32,891 | 6.1% | 0.6% |
| Honda (Acura, Honda) | $27,149 | $27,586 | $26,897 | 0.9% | -1.6% |
| Hyundai/Kia | $22,568 | $22,485 | $22,342 | 1.0% | 0.4% |
| Nissan (Nissan, Infiniti) | $28,304 | $28,362 | $27,704 | 2.2% | -0.2% |
| Toyota (Lexus, Scion, Toyota) |
$29,515 | $29,463 | $28,396 | 3.9% | 0.2% |
| Volkswagen (Audi, Porsche, Volkswagen) |
$35,296 | $35,527 | $33,610 | 5.0% | -0.7% |
| Industry | $30,634 | $30,798 | $30,832 | -0.6% | -0.5% |
In addition, TrueCar.com estimated that the average incentive for light vehicles was $2,507 in November 2013, up $17 (0.7 percent) from November 2012; and down $53 (-2.1 percent) from October 2013.
| Manufacturer | November 2013 Incentives |
October 2013 Incentives |
November 2012 Incentives |
Percent Change Nov. 2012 to Nov. 2013 |
Percent Change Oct. 2013 to Nov. 2013 |
|---|---|---|---|---|---|
| Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $2,756 | $2,933 | $3,143 | -12.3% | -6.0% |
| Ford (Ford, Lincoln) | $3,317 | $3,330 | $2,689 | 23.4% | -0.4% |
| GM (Buick, Cadillac, Chevrolet, GMC) | $3,067 | $3,404 | $2,829 | 8.4% | -9.9% |
| Honda (Acura, Honda) | $1,724 | $1,568 | $2,119 | -18.6% | 10.0% |
| Hyundai/Kia | $1,858 | $1,879 | $1,476 | 25.9% | -1.1% |
| Nissan (Nissan, Infiniti) | $2,554 | $2,152 | $2,861 | -10.7% | 18.7% |
| Toyota (Lexus, Scion, Toyota) | $1,876 | $1,847 | $1,809 | 3.7% | 1.6% |
| Volkswagen (Audi, Porsche, Volkswagen) | $2,332 | $2,305 | $2,143 | 8.8% | 1.2% |
| Industry | $2,507 | $2,560 | $2,490 | 0.7% | -2.1% |
TrueCar.com estimated the ratio of incentives to average transaction price for light vehicles was 8.2 percent in November 2013, up 0.1 percent from November 2012 and down 0.1 percent from October 2013.
| Manufacturer | Nov. 2013 Incentives/Avg. Transaction Price |
Oct. 2013 Incentives/Avg. Transaction Price | Nov. 2012 Incentives/ Avg. Transaction Price | Percent Change Nov. 2012 to Nov. 2013 | Percent Change Oct. 2013 to Nov. 2013 |
|---|---|---|---|---|---|
| Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | 8.7% | 9.5% | 10.5% | -1.8% | -0.7% |
| Ford (Ford, Lincoln) | 9.9% | 9.8% | 8.3% | 1.6% | 0.1% |
| GM (Buick, Cadillac, Chevrolet, GMC) | 8.8% | 9.8% | 8.6% | 0.2% | -1.0% |
| Honda (Acura, Honda) | 6.4% | 5.7% | 7.9% | -1.5% | 0.7% |
| Hyundai/Kia | 8.2% | 8.4% | 6.6% | 1.6% | -0.1% |
| Nissan (Nissan, Infiniti) | 9.0% | 7.6% | 10.3% | -1.3% | 1.4% |
| Toyota (Lexus, Scion, Toyota) | 6.4% | 6.3% | 6.4% | 0.0% | 0.1% |
| Volkswagen (Audi, Porsche, Volkswagen) | 6.6% | 6.5% | 6.4% | 0.2% | 0.1% |
| Industry | 8.2% | 8.3% | 8.1% | 0.1% | -0.1% |
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