Industry Incentives Rise Nearly 20% From Last Month
Industry Transaction Prices Highest Since December 2011; Industry Incentive Spending Highest Since August 2010
SANTA MONICA, Calif. –TrueCar, the authority on car pricing information, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $30,832 in November 2012, up $335 (1.1 percent) from November 2011 and up $346 (1.1 percent) from October 2012.
“Industry average transaction prices climb once again with consumers’ continued appetite for highly contended vehicles,” said Jesse Toprak, Senior Analyst at TrueCar. “Today’s consumers value a nicely equipped vehicle as much as they do a low cost of ownership. Automakers are getting better at providing all the modern conveniences consumers come to expect for more of their models, resulting in higher overall prices hence improved profitability.”
| Manufacturer | November 2012 Transaction Price | October 2012 Transaction Price | November 2011 Transaction Price | Percent Change November 2011 to November 2012 | Percent Change October 2012 to November 2012 | |
| Chrysler (Chrysler,Dodge, Jeep, Ram, Fiat) | $29,796 | $29,541 | $29,071 | 2.5% | 0.9% | |
| Ford (Ford, Lincoln) | $32,543 | $32,141 | $31,498 | 3.3% | 1.3% | |
| GM (Buick, Cadillac,Chevrolet, GMC) | $32,891 | $32,547 | $33,027 | -0.4% | 1.1% | |
| Honda (Acura, Honda) | $26,897 | $27,011 | $26,529 | 1.4% | -0.4% | |
| Hyundai/Kia | $22,342 | $22,410 | $21,265 | 5.1% | -0.3% | |
| Nissan (Nissan, Infiniti) | $27,704 | $27,652 | $27,770 | -0.2% | 0.2% | |
| Toyota (Lexus, Scion,Toyota) | $28,396 | $27,910 | $27,442 | 3.5% | 1.7% | |
| Volkswagen (Audi,Volkswagen) | $33,610 | $33,408 | $33,004 | 1.8% | 0.6% | |
| Industry | $30,832 | $30,486 | $30,497 | 1.1% | 1.1% | |
In addition, TrueCar estimated that the average incentive for light-vehicles was $2,764 in November 2012, up $117 (4.4 percent) from November 2011 and up $447 (19.3 percent) from October 2012.
| Manufacturer | November 2012 Incentives | October 2012 Incentives |
November 2011 Incentives | Percent Change November 2011 to November 2012 |
Percent Change October 2012 to November 2012 |
| Chrysler (Chrysler,Dodge, Jeep, Ram, Fiat) | $2,526 | $3,062 | $3,237 | -22.0% | -17.5% |
| Ford (Ford, Lincoln) | $2,307 | $2,522 | $2,923 | -21.1% | -8.5% |
| GM (Buick, Cadillac,Chevrolet, GMC) | $3,720 | $2,915 | $3,100 | 20.0% | 27.6% |
| Honda (Acura, Honda) | $2,428 | $1,882 | $2,333 | 4.1% | 29.0% |
| Hyundai/Kia | $1,586 | $1,375 | $1,227 | 29.2% | 15.3% |
| Nissan (Nissan, Infiniti) | $4,273 | $2,375 | $2,949 | 44.9% | 79.9% |
| Toyota (Lexus, Scion,Toyota) | $2,075 | $1,622 | $1,899 | 9.2% | 27.9% |
| Volkswagen (Audi,Volkswagen) | $2,259 | $2,264 | $2,504 | -9.8% | -0.2% |
| Industry | $2,764 | $2,317 | $2,647 | 4.4% | 19.3% |
TrueCar estimated that the ratio of incentives to average transaction price for light-vehicles was 9.0 percent in November 2012, up from 8.7 percent in November 2011 and up from 7.6 percent in October 2012.
| Manufacturer | November 2012 Incentives/
Avg. Transaction Price |
October 2012 Incentives/
Avg. Transaction Price |
November 2011 Incentives/ Avg. Transaction Price |
Percent Change November 2011 to November 2012 | Percent Change October 2012 to November 2012 |
| Chrysler (Chrysler,Dodge, Jeep, Ram, Fiat) | 8.5% | 10.4% | 11.1% | -2.7% | -1.9% |
| Ford (Ford, Lincoln) | 7.1% | 7.8% | 9.3% | -2.2% | -0.8% |
| GM (Buick, Cadillac,Chevrolet, GMC) | 11.3% | 9.0% | 9.4% | 1.9% | 2.4% |
| Honda (Acura, Honda) | 9.0% | 7.0% | 8.8% | 0.2% | 2.1% |
| Hyundai/Kia | 7.1% | 6.1% | 5.8% | 1.3% | 1.0% |
| Nissan (Nissan, Infiniti) | 15.4% | 8.6% | 10.6% | 4.8% | 6.8% |
| Toyota (Lexus, Scion,Toyota) | 7.3% | 5.8% | 6.9% | 0.4% | 1.5% |
| Volkswagen (Audi,Volkswagen) | 6.7% | 6.8% | 7.6% | -0.9% | -0.1% |
| Industry | 9.0% | 7.6% | 8.7% | 0.3% | 1.4% |
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.
TrueCar is a data-driven company that sources, compiles, and analyses car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country. Its national network of more than 5,200 Certified Dealers is committed to provide no-hassle pricing for some of the country’s largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.
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