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Transaction Prices Fall; Incentives Up for November

December 2, 2010

SANTA MONICA, Calif. — TrueCar.com estimated that the average transaction price for light vehicles in the United States was $29,136 in November, down $735 (2.5 percent) from November 2009 and down $435 (1.6 percent) from October 2010.

"Cash for Clunkers pushed forward the sale of cheaper and more fuel-efficient cars last year, pushing luxury and SUV/truck buyers purchases into the fourth quarter," said Jesse Toprak, vice president of industry trends and insights for TrueCar.com. "This November, we're seeing a more balanced picture of the industry, even with a strong mix of truck and SUV sales."

Transaction Pricing Forecast

Manufacturer

Nov. 2010  Transaction Price

Oct. 2010  Transaction Price

Nov. 2009  Transaction Price

Change Nov. 2010 to Nov. 2009

Change Nov. 2010 to Oct. 2010

Chrysler

$29,283

$29,164

$28,552

2.6%

0.4%

Ford

$32,033

$31,886

$32,017

0.1%

0.5%

GM

$34,739

$34,605

$34,459

0.8%

0.4%

Honda

$25,164

$25,094

$25,465

-1.2%

0.3%

Hyundai

$20,443

$20,431

$20,249

1.0%

0.1%

Kia

$18,611

$18,504

$18,490

0.7%

0.6%

Nissan

$27,447

$20,431

$27,417

0.1%

34.3%

Toyota

$25,238

$25,200

$25,751

-2.0%

0.1%

Industry

$29,136

$29,601

$29,871

-2.5%

-1.6%

In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,712 in November 2010, up $12 (0.4 percent) from November 2009 and up $162 (6.4 percent) from October 2010.

"Even though incentives appear to be slightly higher this year, automakers are becoming smarter by focusing on low APR and special lease programs — strategies with relatively low costs due to near zero interest rates and much improved residual values," said Toprak.

Incentive Spending Forecast

Manufacturer

Nov. 2010 Incentives

Oct. 2010 Incentives

Nov. 2009 Incentives

Change Nov. 2010 to Nov. 2009

Change Nov. 2010 to Oct. 2010

Chrysler

$3,452

$3,400

$3,550

-2.8%

1.5%

Ford

$2,942

$2,750

$2,650

11.0%

7.0%

GM

$3,350

$3,100

$4,000

-16.3%

8.1%

Honda

$2,162

$2,000

$1,350

60.1%

8.1%

Hyundai/Kia

$1,801

$1,700

$2,050

-12.1%

5.9%

Nissan

$2,764

$2,550

$2,700

2.4%

8.4%

Toyota

$2,220

$2,100

$1,650

34.5%

5.7%

Industry

$2,712

$2,550

$2,700

0.4%

6.4%

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