TrueCar (TRUE) Reports U.S. New Car Avg. Transaction Price Rose 2.4% in August
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TrueCar (Nasdaq: TRUE) reported that the estimated average transaction price (ATP) for light vehicles in the U.S. was $31,610 in August 2014, up $751 (2.4 percent) from August 2013 and down $125 (-0.4 percent) from July 2014.
"While it has become fashionable to criticize incentive spending levels, the reality is the ratio of incentive spending to transaction price this summer is consistent with the healthy industry levels we've seen since 2011," said John Krafcik, president of TrueCar. "GM is the poster child here, with their industry-leading average transaction price increase of 12.9% comfortably outpacing a modest incentive increase of 3.5%."
Average Transaction Price
Manufacturer | Aug. 2014 Forecast | Aug. 2013 | Jul. 2014 | Percent Change vs. Aug. 2013 | Percent Change vs. Jul. 2014 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $31,761 | $30,562 | $31,752 | 3.9% | 0.0% |
Ford (Ford, Lincoln) | $33,334 | $33,016 | $33,006 | 1.0% | 1.0% |
GM (Buick, Cadillac, Chevrolet, GMC) | $37,168 | $32,918 | $36,533 | 12.9% | 1.7% |
Honda (Acura, Honda) | $26,472 | $26,934 | $27,162 | -1.7% | -2.5% |
Hyundai | $23,860 | $23,037 | $23,688 | 3.6% | 0.7% |
Kia | $23,071 | $23,653 | $22,929 | -2.5% | 0.6% |
Nissan (Nissan, Infiniti) | $26,613 | $27,318 | $24,951 | -2.6% | 6.7% |
Toyota (Lexus, Scion, Toyota) | $29,952 | $29,518 | $29,845 | 1.5% | 0.4% |
Volkswagen (Audi, Porsche, Volkswagen) | $37,789 | $35,523 | $39,216 | 6.4% | -3.6% |
Industry | $31,610 | $30,859 | $31,735 | 2.4% | -0.4% |
In addition, TrueCar estimated that the average incentive for light vehicles was $2,772 in August, up $236 (9.3 percent) from August 2013 and down $57 (-2.0 percent) from July 2014.
Incentive Spending
Manufacturer | Aug. 2014 Forecast | Aug. 2013 | Jul. 2014 | Percent Change vs. Aug. 2013 | Percent Change vs. Jul. 2014 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $3,476 | $3,078 | $3,451 | 12.9% | 0.7% |
Ford (Ford, Lincoln) | $3,105 | $2,933 | $3,501 | 5.9% | -11.3% |
GM (Buick, Cadillac, Chevrolet, GMC) | $3,676 | $3,552 | $3,680 | 3.5% | -0.1% |
Honda (Acura, Honda) | $1,825 | $1,627 | $1,834 | 12.1% | -0.5% |
Hyundai | $1,738 | $1,522 | $1,744 | 14.2% | -0.3% |
Kia | $2,278 | $1,966 | $2,277 | 15.8% | 0.0% |
Nissan (Nissan, Infiniti) | $2,273 | $2,563 | $2,252 | -11.3% | 0.9% |
Toyota (Lexus, Scion, Toyota) | $2,186 | $1,831 | $2,164 | 19.4% | 1.0% |
Volkswagen (Audi, Porsche, Volkswagen) | $3,171 | $2,599 | $3,222 | 22.0% | -1.6% |
Industry | $2,772 | $2,536 | $2,829 | 9.3% | -2.0% |
TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.8 percent in August 2014, up 6.7 percent from August 2013 and down 1.6 percent from July 2014. GM and Nissan show the most improvement in average transaction price ratio for August vs. last year.
Incentive to ATP Ratio
Manufacturer | Aug. 2014 Forecast | Aug. 2013 | Jul. 2014 | Percent Change vs. Aug. 2013 | Percent Change vs. Jul. 2014 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | 10.9% | 10.1% | 10.9% | 8.7% | 0.7% |
Ford (Ford, Lincoln) | 9.3% | 8.9% | 10.6% | 4.9% | -12.2% |
GM (Buick, Cadillac, Chevrolet, GMC) | 9.9% | 10.8% | 10.1% | -8.4% | -1.8% |
Honda (Acura, Honda) | 6.9% | 6.0% | 6.8% | 14.1% | 2.1% |
Hyundai | 7.3% | 6.6% | 7.4% | 10.3% | -1.1% |
Kia | 9.9% | 8.3% | 9.9% | 18.8% | -0.6% |
Nissan (Nissan, Infiniti) | 8.5% | 9.4% | 9.0% | -9.0% | -5.4% |
Toyota (Lexus, Scion, Toyota) | 7.3% | 6.2% | 7.3% | 17.7% | 0.7% |
Volkswagen (Audi, Porsche, Volkswagen) | 8.4% | 7.3% | 8.2% | 14.7% | 2.1% |
Industry | 8.8% | 8.2% | 8.9% | 6.7% | -1.6% |
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