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New Vehicle Transaction Prices in February Up 3.6 Percent Year-Over-Year, According to TrueCar

Incentives Outstrip Transaction Prices; Up 5.1 Percent Year-Over-Year

SANTA MONICA, Calif., March 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 $32,074 in February 2014, up $1,110 (3.6 percent) from February 2013 and down $24 (-0.1 percent) from January 2014. Average transaction prices continue to rise and are at the highest levels for February in the past five years.

TrueCar Logo.

"Incentive spending is outpacing the rise in average transaction prices, despite year-over-year ATP increases for most automakers," said Larry Dominique, President of ALG and Executive Vice President of TrueCar. "We expect a return to balance once the winter subsides and inventories ease."

Average Transaction Price

Manufacturer

February

2014

January 2014

February 2013

Percent Change Feb. 2013 vs. Feb. 2014

Percent Change Jan. 2014 vs. Feb. 2014

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

$33,179

$33,483

$31,266

6.1%

-0.9%

Ford (Ford, Lincoln)

$34,027

$33,656

$33,612

1.2%

1.1%

GM (Buick, Cadillac, Chevrolet, GMC)

$35,896

$36,055

$34,578

3.8%

-0.4%

Honda (Acura, Honda)

$28,744

$28,516

$27,188

5.7%

0.8%

Hyundai/Kia

$24,972

$24,924

$23,893

4.5%

0.2%

Nissan (Nissan, Infiniti)

$26,875

$27,093

$27,895

-3.7%

-0.8%

Toyota (Lexus, Scion, Toyota)

$31,008

$30,968

$29,692

4.4%

0.1%

Volkswagen (Audi, Porsche, Volkswagen)

$36,395

$35,947

$34,279

6.2%

1.2%

Industry

$32,074

$32,098

$30,964

3.6%

-0.1%








In addition, TrueCar estimated that the average incentive for light vehicles was $2,633 in February, up $129 (5.1 percent) from February 2013 and up $84 (3.3 percent) from January 2014.

Incentive Spending

Manufacturer

February 2014

Forecast

January 2014

February 2013

Percent Change Feb. 2013 vs. Feb. 2014

Percent Change Jan. 2014 vs. Feb. 2014

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

$3,012

$2,924

$3,350

-10.1%

3.0%

Ford (Ford, Lincoln)

$3,305

$3,235

$2,860

15.6%

2.2%

GM (Buick, Cadillac, Chevrolet, GMC)

$3,204

$3,159

$3,376

-5.1%

1.4%

Honda (Acura, Honda)

$2,043

$1,957

$1,400

45.9%

4.4%

Hyundai/Kia

$1,978

$1,938

$1,459

35.5%

2.0%

Nissan (Nissan, Infiniti)

$2,613

$2,524

$2,542

2.8%

3.5%

Toyota (Lexus, Scion, Toyota)

$1,915

$1,856

$1,560

22.7%

3.2%

Volkswagen (Audi, Porsche, Volkswagen)

$2,581

$2,468

$2,016

28.0%

4.6%

Industry

$2,633

$2,550

$2,505

5.1%

3.3%

TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.2 percent in February 2014, up 1.5 percent from February 2013 and up 3.4 percent from January 2014. Honda experiences a notable increase in the incentive to average transaction price ratio in February, up 38% YOY.

Incentive to ATP Ratio

Manufacturer

February 2014 Forecast

January 2014

February 2013

Percent Change Feb. 2013 vs. Feb. 2014

Percent Change Jan. 2014 vs. Feb. 2014

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

9.1%

8.7%

10.7%

-15.3%

4.0%

Ford (Ford, Lincoln)

9.7%

9.6%

8.5%

14.1%

1.1%

GM (Buick, Cadillac, Chevrolet, GMC)

8.9%

8.8%

9.8%

-8.6%

1.9%

Honda (Acura, Honda)

7.1%

6.9%

5.2%

38.0%

3.6%

Hyundai/Kia

7.9%

7.8%

6.1%

29.7%

1.9%

Nissan (Nissan, Infiniti)

9.7%

9.3%

9.1%

6.7%

4.3%

Toyota (Lexus, Scion, Toyota)

6.2%

6.0%

5.3%

17.5%

3.1%

Volkswagen (Audi, Porsche, Volkswagen)

7.1%

6.9%

5.9%

20.6%

3.3%

Industry

8.2%

7.9%

8.1%

1.5%

3.4%

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.

Photo - http://photos.prnewswire.com/prnh/20110118/LA31413LOGO

SOURCE TrueCar

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