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% |
More F&I
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Leading with Purpose
In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.
Read More →
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →