Welcome!

News Feed Item

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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
UpGuard has become a member of the Center for Internet Security (CIS), and will continue to help businesses expand visibility into their cyber risk by providing hardening benchmarks to all customers. By incorporating these benchmarks, UpGuard's CSTAR solution builds on its lead in providing the most complete assessment of both internal and external cyber risk. CIS benchmarks are a widely accepted set of hardening guidelines that have been publicly available for years. Numerous solutions exist t...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...