TrueCar says automobile transaction prices highest ever
(June 1, 2011) SANTA MONICA, Calif. (PRNewswire) — TrueCar.com estimated today that the average transaction price for light vehicles in the United States was $29,817 in May 2011, up $608 (2.1 percent) from May 2010 and up $215 (0.7 percent) from April 2011.
"Average transaction prices reached their highest levels ever recorded," said Jesse Toprak, VP of Industry Trends and Insights at TrueCar.com. "Even though consumers continued to move toward smaller vehicles, they also chose highly contented vehicles that are higher priced, keeping transaction prices high.
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Transaction Pricing Forecast |
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Manufacturer |
May 2011 Transaction Price |
April 2011 Transaction Price |
May 2010 Transaction Price |
Percent Change May 2010 to May 2011 |
Percent Change April 2011 to May 2011 |
|
|
Chrysler |
$28,777 |
$28,628 |
$28,267 |
1.8% |
0.5% |
|
|
Ford |
$32,885 |
$32,708 |
$31,257 |
5.2% |
0.5% |
|
|
GM |
$33,883 |
$33,920 |
$33,505 |
1.1% |
-0.1% |
|
|
Honda |
$25,759 |
$25,096 |
$24,634 |
4.6% |
2.6% |
|
|
Hyundai/Kia |
$19,217 |
$19,085 |
$18,942 |
1.5% |
0.7% |
|
|
Nissan |
$27,914 |
$27,680 |
$26,962 |
3.5% |
0.8% |
|
|
Toyota |
$26,058 |
$25, 645 |
$25,500 |
2.2% |
1.6% |
|
|
Industry |
$29,817 |
$29,602 |
$29,209 |
2.1% |
0.7% |
|
Toprak continued, "Incentives are at their lowest in nearly nine years, but this is an anomaly and expect incentives to climb again in June."
TrueCar.com estimated that the average incentive for light-vehicles was $2,017 in May 2011, down $822 (28.9 percent) from May 2010 and down $304 (13.1 percent) from April 2011.
"Ford is a good example of a manufacturer that diversified its product portfolio to include more fuel-efficient vehicles while increasing market share and transaction prices," said Toprak.
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Incentive Spending Forecast |
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Manufacturer |
May 2011 Incentives |
April 2011 Incentives |
May 2010 Incentives |
Percent Change May 2010 to May 2011 |
Percent Change April 2011 to May 2011 |
|
|
Chrysler |
$2,706 |
$2,806 |
$3,669 |
-26.2% |
-3.6% |
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|
Ford |
$2,340 |
$2,400 |
$3,056 |
-23.4% |
-2.5% |
|
|
GM |
$2,714 |
$3,067 |
$3,727 |
-27.2% |
-11.5% |
|
|
Honda |
$1,229 |
$2,171 |
$2,131 |
-42.3% |
-43.4% |
|
|
Hyundai/Kia |
$1,186 |
$1,279 |
$2,068 |
-42.7% |
-7.3% |
|
|
Nissan |
$1,840 |
$1,997 |
$3,123 |
-41.1% |
-7.9% |
|
|
Toyota |
$877 |
$1,877 |
$1,923 |
-54.4% |
-53.3% |
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|
Industry |
$2,017 |
$2,321 |
$2,839 |
-28.9% |
-13.1% |
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