Transaction Prices Rise, Incentives Fall in September, TrueCar Reports
Despite higher transaction prices and lower incentives, consumers continue to show they're in a buying mood, TrueCar reports.
SANTA MONICA, Calif. — TrueCar.com, a vehicle information site, estimated today that the average transaction price for light vehicles in the United States was $30,282 in September, up $264 (0.9 percent) from the same time last year and up by $8 from August.
"Transaction prices in September are as stable as the sales rate, while still being the highest in years," said Jesse Toprak, vice president of market intelligence at TrueCar.com. "This stability is another indication of consumer demand; the data this month indicates that the automotive marketplace has found a new equilibrium that is sustainable and growing at a healthy pace."
Manufacturer | September 2012 Transaction Price | August 2012 Transaction Price | September 2011 Transaction Price | Percent Change September 2011 to September 2012 | Percent Change August 2012 to September 2012 | |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $29,577 | $29,596 | $28,873 | 2.4% | -0.1% | |
Ford (Ford, Lincoln) | $32,048 | $32,196 | $31,793 | 0.8% | -0.5% | |
GM (Buick, Cadillac, Chevrolet, GMC) | $32,274 | $32,391 | $32,512 | -0.7% | -0.4% | |
Honda (Acura, Honda) | $26,760 | $26,767 | $26,551 | 0.8% | 0.0% | |
Hyundai/Kia | $22,345 | $22,378 | $21,122 | 5.8% | -0.1% | |
Nissan (Nissan, Infiniti) | $27,564 | $27,708 | $27,155 | 1.5% | -0.5% | |
Toyota (Lexus, Scion, Toyota) | $27,701 | $27,845 | $27,183 | 1.9% | -0.5% | |
Volkswagen (Audi, Volkswagen) | $33,024 | $33,207 | $32,812 | 0.6% | -0.6% | |
Industry | $30,282 | $30,274 | $30,018 | 0.9% | 0.0% | |
In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,468 in September, down $176 (6.7 percent) from Sept. 2011 and down $31 (1.2 percent) from August of this year.
"Market conditions continue to be ideal for automakers with lower incentive spending, high average transaction rates and double digit sales growth," Toprak noted.
Manufacturer | September 2012 Incentives | August 2012 Incentives | September 2011 Incentives | Percent Change September 2011 to September 2012 | Percent Change August 2012 to September 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $3,256 | $3,228 | $3,360 | -3.1% | 0.9% |
Ford (Ford, Lincoln) | $2,622 | $2,671 | $2,845 | -7.8% | -1.9% |
GM (Buick, Cadillac, Chevrolet, GMC) | $3,008 | $3,094 | $3,224 | -6.7% | -2.8% |
Honda (Acura, Honda) | $2,270 | $2,419 | $2,337 | -2.9% | -6.2% |
Hyundai/Kia | $1,294 | $1,188 | $1,212 | 6.8% | 8.9% |
Nissan (Nissan, Infiniti) | $2,777 | $2,890 | $2,748 | 1.1% | -3.9% |
Toyota (Lexus, Scion, Toyota) | $1,930 | $1,908 | $2,238 | -13.7% | 1.2% |
Volkswagen (Audi, Volkswagen) | $2,462 | $2,499 | $1,906 | 29.2% | -1.5% |
Industry | $2,468 | $2,499 | $2,645 | -6.7% | -1.2% |
TrueCar.com estimated that the ratio of incentives to average transaction price for light-vehicles slid to 7.5 percent in September, down from 8.2 percent in September 2011 and up from 6.9 percent in August.
Manufacturer | September 2012 Incentives/Avg. Transaction Price | August 2012 Incentives/Avg. Transaction Price | September 2011 Incentives/ Avg. Transaction Price | Percent Change September 2011 to September 2012 | Percent Change August 2012 to September 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | 11.0% | 10.9% | 11.6% | -0.6% | 0.1% |
Ford (Ford, Lincoln) | 8.2% | 8.3% | 8.9% | -0.8% | -0.1% |
GM (Buick, Cadillac, Chevrolet, GMC) | 9.3% | 9.6% | 9.9% | -0.6% | -0.2% |
Honda (Acura, Honda) | 8.5% | 9.0% | 8.8% | -0.3% | -0.6% |
Hyundai/Kia | 5.8% | 5.3% | 5.7% | 0.1% | 0.5% |
Nissan (Nissan, Infiniti) | 10.1% | 10.4% | 10.1% | 0.0% | -0.4% |
Toyota (Lexus, Scion, Toyota) | 7.0% | 6.9% | 8.2% | -1.3% | 0.1% |
Volkswagen (Audi, Volkswagen) | 7.5% | 7.5% | 5.8% | 1.6% | -0.1% |
Industry | 8.2% | 8.3% | 8.8% | -0.7% | -0.1% |
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