TrueCar: New-Vehicle Transaction Prices Hit All-Time High

Market Watch

The auto industry’s aver­age trans­ac­tion price for new vehi­cles hit an all-time high in August, accord­ing to TrueCar.com, with five automak­ers lead­ing the way.

Find out more about what True­Car senior ana­lyst Jesse Toprak has to say.

True­Car, Inc., the auto­mo­tive pric­ing infor­ma­tion and analy­sis com­pa­ny that cre­ates a bet­ter buy­ing expe­ri­ence for deal­ers and con­sumers, esti­mat­ed today that the aver­age trans­ac­tion price (ATP) for light vehi­cles in the U.S. was $31,252 – a record high – in August 2013, up $978 (3.2 per­cent) over August 2012; and up $164 (0.5 per­cent) from July 2013.

The industry’s aver­age trans­ac­tion price for new vehi­cles hit an all-time high, fueled by five automak­ers — Chrysler, Ford, Hon­da, Nis­san and Volk­swa­gen – that all achieved record highs for their aver­age trans­ac­tion price in August. The pre­vi­ous indus­try record was $31,228, set in Decem­ber 2012.

“His­tor­i­cal­ly low inter­est rates as well as very attrac­tive lease spe­cials fueled by high resale val­ues are enabling con­sumers to buy more expen­sive vehi­cles while still keep­ing pay­ments at afford­able lev­els,” said Jesse Toprak, senior ana­lyst for True­Car. “It’s good day at the office for the man­u­fac­tur­ers when the sales con­tin­ue to grow dou­ble dig­its while trans­ac­tion prices reach record highs.”

In addi­tion, True­Car esti­mat­ed that the aver­age incen­tive for light vehi­cles was $2,477 in August 2013, up $9 (0.4 per­cent) from August 2012; and down $67 (-2.6%) from July 2013.

True­Car esti­mat­ed the ratio of incen­tives to aver­age trans­ac­tion price for light vehi­cles was 7.9 per­cent in August, down from 8.2 per­cent in July 2012 and down from 8.2 in July 2013.

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