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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