TrueCar: Transaction Prices Rise in November
November transaction prices, which rose to their highest level in almost a year, show that budget-minded consumers aren’t skimping on modern conveniences.
SANTA MONICA, Calif. — TrueCar estimated this week that the average transaction price for light vehicles in the United States rose to $30,832 in November, up $335 (1.1 percent) from the same month last year and up $346 (1.1 percent) from October.
“Industry average transaction prices climb once again with consumers' continued appetite for highly contended vehicles," said Jesse Toprak, senior analyst for the vehicle information site. "Today's consumers value a nicely equipped vehicle as much as they do a low cost of ownership. Automakers are getting better at providing all the modern conveniences consumers come to expect for more of their models, resulting in higher overall prices hence improved profitability.”
Manufacturer | November 2012 Transaction Price | October 2012 Transaction Price | November 2011 Transaction Price | Percent Change November 2011 to November 2012 | Percent Change October 2012 to November 2012 | |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $29,796 | $29,541 | $29,071 | 2.5% | 0.9% | |
Ford (Ford, Lincoln) | $32,543 | $32,141 | $31,498 | 3.3% | 1.3% | |
GM (Buick, Cadillac, Chevrolet, GMC) | $32,891 | $32,547 | $33,027 | -0.4% | 1.1% | |
Honda (Acura, Honda) | $26,897 | $27,011 | $26,529 | 1.4% | -0.4% | |
Hyundai/Kia | $22,342 | $22,410 | $21,265 | 5.1% | -0.3% | |
Nissan (Nissan, Infiniti) | $27,704 | $27,652 | $27,770 | -0.2% | 0.2% | |
Toyota (Lexus, Scion, Toyota) | $28,396 | $27,910 | $27,442 | 3.5% | 1.7% | |
Volkswagen (Audi, Volkswagen) | $33,610 | $33,408 | $33,004 | 1.8% | 0.6% | |
Industry | $30,832 | $30,486 | $30,497 | 1.1% | 1.1% | |
In addition, TrueCar estimated that the average incentive for light vehicles was $2,764 in November, up $117 (4.4 percent) from November 2011 and up $447 (19.3 percent) from October.
Manufacturer | November 2012 Incentives | October 2012 Incentives | November 2011 Incentives | Percent Change November 2011 to November 2012 | Percent Change October 2012 to November 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | $2,526 | $3,062 | $3,237 | -22.0% | -17.5% |
Ford (Ford, Lincoln) | $2,307 | $2,522 | $2,923 | -21.1% | -8.5% |
GM (Buick, Cadillac, Chevrolet, GMC) | $3,720 | $2,915 | $3,100 | 20.0% | 27.6% |
Honda (Acura, Honda) | $2,428 | $1,882 | $2,333 | 4.1% | 29.0% |
Hyundai/Kia | $1,586 | $1,375 | $1,227 | 29.2% | 15.3% |
Nissan (Nissan, Infiniti) | $4,273 | $2,375 | $2,949 | 44.9% | 79.9% |
Toyota (Lexus, Scion, Toyota) | $2,075 | $1,622 | $1,899 | 9.2% | 27.9% |
Volkswagen (Audi, Volkswagen) | $2,259 | $2,264 | $2,504 | -9.8% | -0.2% |
Industry | $2,764 | $2,317 | $2,647 | 4.4% | 19.3% |
TrueCar estimated that the ratio of incentives to average transaction price for light vehicles was 9 percent in November, up from 8.7 percent a year ago and up from 7.6 percent in October of this year.
Manufacturer | November 2012 Incentives/Avg. Transaction Price | October 2012 Incentives/Avg. Transaction Price | November 2011 Incentives/ Avg. Transaction Price | Percent Change November 2011 to November 2012 | Percent Change October 2012 to November 2012 |
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) | 8.5% | 10.4% | 11.1% | -2.7% | -1.9% |
Ford (Ford, Lincoln) | 7.1% | 7.8% | 9.3% | -2.2% | -0.8% |
GM (Buick, Cadillac, Chevrolet, GMC) | 11.3% | 9.0% | 9.4% | 1.9% | 2.4% |
Honda (Acura, Honda) | 9.0% | 7.0% | 8.8% | 0.2% | 2.1% |
Hyundai/Kia | 7.1% | 6.1% | 5.8% | 1.3% | 1.0% |
Nissan (Nissan, Infiniti) | 15.4% | 8.6% | 10.6% | 4.8% | 6.8% |
Toyota (Lexus, Scion, Toyota) | 7.3% | 5.8% | 6.9% | 0.4% | 1.5% |
Volkswagen (Audi, Volkswagen) | 6.7% | 6.8% | 7.6% | -0.9% | -0.1% |
Industry | 9.0% | 7.6% | 8.7% | 0.3% | 1.4% |
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