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New Vehicle Transaction Prices in May Flat Year-Over-Year, According to TrueCar

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SOURCE TrueCar

Average Incentive Spending Around $2,677 Per Vehicle

SANTA MONICA, Calif., June 3, 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 $30,646 in May 2014, down $149 (-0.5 percent) from May 2013 and down $1,174 (-3.7 percent) from April 2014. 

TrueCar Logo.

"Industrywide we saw average transaction prices contract slightly in May," said Larry Dominique, President of ALG and Executive Vice President of TrueCar.  "Conversely, Chrysler and GM were able to command higher prices, while shrinking their incentive spend-to-price ratio. This is a positive brand indicator for the two automakers."

Average Transaction Price

Manufacturer

May

2014

May

2013

April

2014

Percent Change vs. May 2013

Percent Change vs. Apr. 2014

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

$31,755

$29,716

$31,360

6.9%

1.3%

Ford (Ford, Lincoln)

$32,506

$32,427

$33,165

0.2%

-2.0%

GM (Buick, Cadillac, Chevrolet, GMC)

$35,372

$33,032

$34,910

7.1%

1.3%

Honda (Acura, Honda)

$27,267

$26,979

$27,267

1.1%

0.0%

Hyundai

$23,954

$22,956

$23,220

4.3%

3.2%

Kia

$22,925

$22,973

$23,085

-0.2%

-0.7%

Nissan (Nissan, Infiniti)

$25,994

$27,660

$26,059

-6.0%

-0.2%

Toyota (Lexus, Scion, Toyota)

$29,533

$29,289

$30,208

0.8%

-2.2%

Volkswagen (Audi, Porsche, Volkswagen)

$36,774

$36,375

$40,176

1.1%

-8.5%

Industry

$30,646

$30,795

$31,820

-0.5%

-3.7%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,677 in May, up $17 (0.7 percent) from May 2013 and up $91 (3.5 percent) from April 2014.

Incentive Spending

Manufacturer

May

 2014

Forecast

May

2013

April

 2014

Percent Change vs. May 2013

Percent Change vs. Apr. 2014

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

$3,076

$3,268

$3,059

-5.9%

0.5%

Ford (Ford, Lincoln)

$3,316

$3,074

$3,209

7.9%

3.3%

GM (Buick, Cadillac, Chevrolet, GMC)

$3,411

$3,651

$3,348

-6.6%

1.9%

Honda (Acura, Honda)

$2,118

$1,811

$2,049

17.0%

3.4%

Hyundai

$1,904

$1,349

$1,836

41.2%

3.7%

Kia

$2,265

$1,762

$2,188

28.6%

3.5%

Nissan (Nissan, Infiniti)

$2,400

$2,805

$2,185

-14.5%

9.8%

Toyota (Lexus, Scion, Toyota)

$1,861

$1,804

$1,719

3.2%

8.3%

Volkswagen (Audi, Porsche, Volkswagen)

$2,798

$2,460

$2,725

13.7%

2.7%

Industry

$2,677

$2,659

$2,586

0.7%

3.5%

TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.7 percent in May 2014, up 1.1 percent from May 2013 and up 7.5 percent from April 2014.  Chrysler, GM and Nissan are down by more than 9 percent in the incentive to average transaction price ratio for May vs. last year.

Incentive to ATP Ratio

Manufacturer

May

2014 Forecast

May

2013

April

 2014

Percent Change vs. May 2013

Percent Change vs. Apr. 2014

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

9.7%

11.0%

9.8%

-11.9%

-0.7%

Ford (Ford, Lincoln)

10.2%

9.5%

9.7%

7.6%

5.4%

GM (Buick, Cadillac, Chevrolet, GMC)

9.6%

11.1%

9.6%

-12.8%

0.6%

Honda (Acura, Honda)

7.8%

6.7%

7.5%

15.7%

3.4%

Hyundai

7.9%

5.9%

7.9%

35.3%

0.5%

Kia

9.9%

7.7%

9.5%

28.8%

4.3%

Nissan (Nissan, Infiniti)

9.2%

10.1%

8.4%

-9.0%

10.1%

Toyota (Lexus, Scion, Toyota)

6.3%

6.2%

5.7%

2.3%

10.8%

Volkswagen (Audi, Porsche, Volkswagen)

7.6%

6.8%

6.8%

12.5%

12.2%

Industry

8.7%

8.6%

8.1%

1.1%

7.5%

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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