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Transaction Prices Fall, Incentives Increase for December

January 4, 2011

SANTA MONICA, Calif. — TrueCar.com estimated today that the average transaction price for light vehicles in the United States was $29,358 in December 2010, down $276 (0.9 percent) from December 2009 and down $95 (0.3 percent) from November 2010.

For the full year 2010, the estimated average transaction price was $29,070, up 4.7 percent from 2009 when the average transaction price was $27,757.

"Typically, because of seasonality, trucks and SUVs sell better in December, increasing transaction prices," said Jesse Toprak, VP of industry trends and insights for TrueCar.com. "Yet due to higher gas prices and increased incentives, transaction prices dropped slightly this month." 

Transaction Pricing Forecast


Manufacturer

Dec. 2010 Transaction Price

Nov. 2010 Transaction Price

Dec. 2009 Transaction Price

Change Dec. 2010 from Dec. 2009

Change Dec. 2010 from Nov. 2010


Chrysler

$28,773

$29,010

$ 28,438

1.2%

-0.8%


Ford

$31,690

$31,804

$31,931

-0.8%

-0.4%


GM

$34,783

$34,801

$34,248

1.6%

-0.1%


Honda

$24,948

$25,177

$25,383

-1.7%

-0.9%


Hyundai

$20,448

$20,489

$20,204

1.2%

-0.2%


Kia

$18,467

$18,568

$18,236

1.3%

-0.5%


Nissan

$27,152

$27,090

$27,280

-0.5%

-0.2%


Toyota

$25,099

$25,206

$25,626

-2.1%

-0.4%


Industry

$29,358

$29,453

$29,634

-0.9%

-0.3%











In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,721 in December 2010, up $21 (0.8 percent) from December 2009 and up $171 (6.7 percent) from November 2010. For the full year 2010, the estimated incentive for light-vehicles was $2,718, down 2.5 percent from 2009 when the average incentive for light-vehicles was $2,788.

"Incentives spending is flat compared to last year as automakers have made a concerted effort to only put money on the hood of vehicles that need it," said Toprak. "With the rise in leasing, estimated incentive spending could decrease with improved residual values."

Incentive Spending Forecast


Manufacturer

Dec. 2010 Incentives

Nov. 2010 Incentives

Dec. 2009 Incentives

Change Dec. 2010 from Dec. 2009

Change Dec. 2010 from Nov. 2010


Chrysler

$3,488

$3,300

$3,550

-1.7%

5.7%


Ford

$2,945

$2,750

$2,650

11.1%

7.1%


GM

$3,347

$3,100

$4,050

-17.4%

8.0%


Honda

$2,159

$2,050

$1,300

66.1%

5.3%


Hyundai/Kia

$1,795

$1,650

$2,050

-12.4%

8.8%


Nissan

$2,823

$2,550

$2,800

0.8%

10.7%


Toyota

$2,253

$2,100

$1,650

36.5%

7.3%


Industry

$2,721

$2,550

$2,700

0.8%

6.7%











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