Transaction Prices Up, Incentives Down in August, TrueCar Reports
Higher transaction prices and lower incentive spending didn’t keep car buyers away from dealer lots, a positive sign for automakers and dealers.
SANTA MONICA, Calif. — TrueCar.com reported today that the average transaction price for light vehicles in the United States was $30,274 in August 2012, up $428 (1.4 percent) from August 2011 and down $95 (0.3 percent) from July 2012.
"Consumers’ preferences concentrated on the two extreme ends of the segments in August, with small cars and large trucks both enjoying market share gains — a trend that more or less resulted in a wash from the previous month," said Jesse Toprak, vice president of market intelligence for TrueCar.com. “The increase in transaction prices compared to last year while lowering incentive spending shows the strengthening demand for new vehicles and a positive sign for the automakers’ bottom line.”
Manufacturer | August 2012 Transaction Price | July 2012 Transaction Price | August 2011 Transaction Price | Percent Change August 2011 to August 2012 | Percent Change July 2012 to August 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $29,596 | $29,647 | $28,700 | 3.1% | -0.2% |
Ford (Ford, Lincoln) | $32,196 | $32,089 | $31,829 | 1.2% | 0.3% |
GM (Buick, Cadillac, Chevrolet, GMC) | $32,391 | $32,554 | $32,344 | 0.1% | -0.5% |
Honda (Acura, Honda) | $26,767 | $27,123 | $26,580 | 0.7% | -1.3% |
Hyundai/Kia | $22,378 | $22,340 | $21,144 | 5.8% | 0.2% |
Nissan (Nissan, Infiniti) | $27,708 | $27,892 | $27,421 | 1.0% | -0.7% |
Toyota (Lexus, Scion, Toyota) | $27,845 | $28,074 | $27,343 | 1.8% | -0.8% |
Volkswagen (Audi, Volkswagen) | $33,207 | $33,366 | $32,985 | 0.7% | -0.5% |
Industry | $30,274 | $30,369 | $29,846 | 1.4% | -0.3% |
In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,457 in August, down $158 (6.0 percent) from August 2011 and down $49 (2.0 percent) from July 2012.
Manufacturer | August 2012 Incentives | July 2012 Incentives | August 2011 Incentives | Percent Change August 2011 to August 2012 | Percent Change July 2012 to August 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $3,088 | $3,117 | $3,385 | -8.8% | -0.9% |
Ford (Ford, Lincoln) | $2,621 | $2,699 | $2,699 | -2.9% | -2.9% |
GM (Buick, Cadillac, Chevrolet, GMC) | $2,990 | $3,063 | $3,118 | -4.1% | -2.4% |
Honda (Acura, Honda) | $2,216 | $2,263 | $2,228 | -0.5% | -2.1% |
Hyundai/Kia | $1,071 | $1,078 | $1,289 | -16.9% | -0.6% |
Nissan (Nissan, Infiniti) | $2,903 | $3,170 | $2,773 | 4.7% | -8.4% |
Toyota (Lexus, Scion, Toyota) | $1,904 | $1,826 | $2,417 | -21.2% | 4.3% |
Volkswagen (Audi, Volkswagen) | $2,568 | $2,633 | $1,843 | 39.3% | -2.5% |
Industry | $2,457 | $2,506 | $2,614 | -6.0% | -2.0% |
TrueCar.com estimated that the ratio of incentives to average transaction price for light-vehicles was 8.1 percent in August 2012, down from 8.8 percent in August 2011 and down from 8.3 percent in July 2012.
Manufacturer | August 2012 Incentives/Avg. Transaction Price | July 2012 Incentives/Avg. Transaction Price | August 2011 Incentives/ Avg. Transaction Price | Percent Change August 2011 to August 2012 | Percent Change July 2012 to August 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | 10.4% | 10.5% | 11.8% | -1.4% | -0.1% |
Ford (Ford, Lincoln) | 8.1% | 8.4% | 8.5% | -0.3% | -0.3% |
GM (Buick, Cadillac, Chevrolet, GMC) | 9.2% | 9.4% | 9.6% | -0.4% | -0.2% |
Honda (Acura, Honda) | 8.3% | 8.3% | 8.4% | -0.1% | -0.1% |
Hyundai/Kia | 4.8% | 4.8% | 6.1% | -1.3% | 0.0% |
Nissan (Nissan, Infiniti) | 10.5% | 11.4% | 10.1% | 0.4% | -0.9% |
Toyota (Lexus, Scion, Toyota) | 6.8% | 6.5% | 8.8% | -2.0% | 0.3% |
Volkswagen (Audi, Volkswagen) | 7.7% | 7.9% | 5.6% | 2.1% | -0.2% |
Industry | 8.1% | 8.3% | 8.8% | -0.6% | -0.1% |
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