TrueCar, Inc. the negotiation-free car buying and selling platform, announced today the estimated average transaction price (ATP) for light vehicles in the U.S. was $30,636 in July 2014, down $368 (-1.2 percent) from July 2013. Estimated incentive spending this month is the highest July since 2010.
“Incentive spending in July was above this year’s average, taking transaction prices down about one percent,” said John Krafcik, president of TrueCar. “Other than GM and Nissan, every full-line automaker increased incentive spending over last year. With growing discounts and low-interest financing readily available, it’s a great time to buy a car.”
Average Transaction Price
|
Manufacturer |
July 2014 Forecast |
July 2013 |
Percent Change vs. Jul. 2013 |
| Chrysler (Chrysler,
Dodge, Jeep, Ram, Fiat) |
$31,845 |
$30,695 |
3.7% |
| Ford (Ford, Lincoln) | $32,211 | $32,973 | -2.3% |
| GM (Buick, Cadillac,
Chevrolet, GMC) |
$34,152 |
$33,502 |
1.9% |
| Honda (Acura, Honda) | $26,953 | $27,233 | -1.0% |
| Hyundai | $23,642 | $22,949 |
3.0% |
| Kia | $22,889 | $23,666 | -3.3% |
| Nissan (Nissan, Infiniti) | $25,878 | $27,096 | -4.5% |
| Toyota (Lexus, Scion, Toyota) |
$28,906 |
$29,482 |
-2.0% |
| Volkswagen (Audi,
Porsche, Volkswagen) |
$34,425 |
$36,375 |
-5.4% |
| Industry | $30,636 | $31,004 | -1.2% |
In addition, TrueCar estimated that the average incentive for light vehicles was $2,731 in July, up $182 (7.1 percent) from July 2013.
Incentive Spending
|
Manufacturer |
July 2014 Forecast |
July 2013 |
Percent Change vs. Jul. 2013 |
| Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) |
$3,458 |
$3,052 |
13.3% |
| Ford (Ford, Lincoln) | $3,398 | $2,983 | 13.9% |
| GM (Buick, Cadillac,
Chevrolet, GMC) |
$3,379 |
$3,590 |
-5.9% |
| Honda (Acura, Honda) | $1,865 | $1,768 |
5.5% |
| Hyundai | $1,820 | $1,475 | 23.4% |
| Kia | $2,258 | $1,815 | 24.4% |
| Nissan (Nissan, Infiniti) | $2,165 | $2,445 | -11.5% |
| Toyota (Lexus, Scion,
Toyota) |
$2,122 |
$1,781 |
19.2% |
| Volkswagen (Audi,
Porsche, Volkswagen) |
$2,901 |
$2,546 |
13.9% |
| Industry | $2,731 | $2,549 |
7.1% |
TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.9 percent in July 2014, up 8.4 percent from July 2013. GM and Nissan are down in the incentive to average transaction price ratio for July vs. last year.
Incentive to ATP Ratio
|
Manufacturer |
July 2014 Forecast |
July 2013 |
Percent Change vs. Jul. 2013 |
|
Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) |
10.9% |
9.9% |
9.2% |
| Ford (Ford, Lincoln) | 10.6% |
9.0% |
16.6% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
9.9% |
10.7% |
-7.7% |
| Honda (Acura, Honda) |
6.9% |
6.5% |
6.6% |
|
Hyundai |
7.7% |
6.4% |
19.8% |
|
Kia |
9.9% |
7.7% |
28.7% |
| Nissan (Nissan, Infiniti) |
8.4% |
9.0% |
-7.3% |
|
Toyota (Lexus, Scion, Toyota) |
7.3% |
6.0% |
21.5% |
|
Volkswagen (Audi, Porsche, Volkswagen) |
8.4% |
7.0% |
20.4% |
|
Industry |
8.9% |
8.2% |
8.4% |
