New Vehicle Transaction Prices in April Down 0.3% Year-Over-Year, According to TrueCar - Tucson News Now

New Vehicle Transaction Prices in April Down 0.3% Year-Over-Year, According to TrueCar

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SOURCE TrueCar

Average Incentive Reaches More Than $2,750 Per Vehicle

SANTA MONICA, Calif., May 1, 2014 /PRNewswire/ -- TrueCar, the negotiation-free car buying platform, estimated today that the average transaction price (ATP) for light vehicles in the U.S. was $30,868 in April 2014, down $98 (-0.3 percent) from April 2013 and down $689 (-2.2 percent) from March 2014. 

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"Average transaction prices declined in April as a result of increased incentives," said Larry Dominique, President of ALG and Executive Vice President of TrueCar.  "The ratio of incentive spend to average transaction price is climbing across the industry, but is especially high for Hyundai and Nissan."

Average Transaction Price

Manufacturer

April

2014

April

2013

March

2014

Percent

Change vs.

Apr. 2013

Percent

Change vs.

Mar. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$31,804

$29,973

$31,238

6.1%

1.8%

Ford (Ford, Lincoln)

$32,818

$32,420

$33,191

1.2%

-1.1%

GM (Buick, Cadillac, Chevrolet, GMC)

$35,556

$32,532

$33,997

9.3%

4.6%

Honda (Acura, Honda)

$27,764

$27,177

$27,378

2.2%

1.4%

Hyundai/Kia

$23,557

$22,983

$23,168

2.5%

1.7%

Nissan (Nissan, Infiniti)

$25,854

$28,269

$25,742

-8.5%

0.4%

Toyota (Lexus, Scion, Toyota)

$29,731

$29,283

$30,484

1.5%

-2.5%

Volkswagen (Audi, Porsche, Volkswagen)

$35,680

$37,593

$38,375

-5.1%

-7.0%

Industry

$30,868

$30,966

$31,557

-0.3%

-2.2%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,751 in April, up $225 (8.9 percent) from April 2013 and up $26 (1.0 percent) from March 2014.

Incentive Spending

Manufacturer

April

 2014

Forecast

April

2013

March

 2014

Percent

Change vs.

Apr. 2013

Percent

Change vs.

Mar. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

$3,260

$3,312

$3,213

-1.6%

1.5%

Ford (Ford, Lincoln)

$3,212

$2,922

$3,342

9.9%

-3.9%

GM (Buick, Cadillac, Chevrolet, GMC)

$3,562

$3,633

$3,401

-2.0%

4.7%

Honda (Acura, Honda)

$2,120

$1,604

$2,112

32.2%

0.4%

Hyundai/Kia

$2,087

$1,382

$2,093

51.0%

-0.3%

Nissan (Nissan, Infiniti)

$2,763

$2,165

$2,704

27.6%

2.2%

Toyota (Lexus, Scion, Toyota)

$1,713

$1,571

$1,761

9.0%

-2.7%

Volkswagen (Audi, Porsche, Volkswagen)

$2,778

$2,363

$2,792

17.5%

-0.5%

Industry

$2,751

$2,526

$2,725

8.9%

1.0%

TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.9 percent in April 2014, up 9.2 percent from April 2013 and up 3.2 percent from March 2014.  Both Hyundai and Nissan are up by 40%+ in the incentive to average transaction price ratio in April.

Incentive to ATP Ratio

Manufacturer

April

2014

Forecast

April

2013

March

 2014

Percent

Change vs.

Apr. 2013

Percent

Change vs.

Mar. 2014

Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)

10.3%

11.1%

10.3%

-7.2%

-0.3%

Ford (Ford, Lincoln)

9.8%

9.0%

10.1%

8.6%

-2.8%

GM (Buick, Cadillac, Chevrolet, GMC)

10.0%

11.2%

10.0%

-10.3%

0.1%

Honda (Acura, Honda)

7.6%

5.9%

7.7%

29.4%

-1.0%

Hyundai/Kia

8.9%

6.0%

9.0%

47.3%

-1.9%

Nissan (Nissan, Infiniti)

10.7%

7.7%

10.5%

39.5%

1.7%

Toyota (Lexus, Scion, Toyota)

5.8%

5.4%

5.8%

7.4%

-0.2%

Volkswagen (Audi, Porsche, Volkswagen)

7.8%

6.3%

7.3%

23.8%

7.0%

Industry

8.9%

8.2%

8.6%

9.2%

3.2%

 

About TrueCar
TrueCar is the negotiation-free car buying platform. TrueCar empowers car buyers by giving them transparent insight into what others actually paid, upfront pricing information, and a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is buying a car is painful and buyers fear they are going to overpay. TrueCar's transparent upfront pricing information and guaranteed savings certificate make the car buying process simple so buyers never overpay. TrueCar's mission is to prove that truth and transparency is a more profitable way of doing business -- starting with automotive. Its national network of more than 7,000 TrueCar Certified Dealers is committed to providing negotiation-free savings for some of the country's largest membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is a privately held company headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

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