New-Car Transaction Prices Climb 2% in June
SANTA MONICA, Calif. -- The average transaction price for light vehicles in the United States was $31,125 in June. That's up $147 from May and $617 above June 2012 and the second-highest average transaction price ever, TrueCar reports.
TrueCar describes itself as a data-driven company that sources, compiles, and analyzes car-buying information.
"Consumer confidence is continuing to fuel demand for new vehicles and consumers' preference for high-content vehicles is sending prices higher," said Jesse Toprak, senior analyst for TrueCar. "Ford and Honda are both at record highs, and GM is $1 shy of its highest-ever average transaction price, which has brought the industry average to its second-highest level ever. Our data shows the only month with a higher industry average transaction price was December of last year."
Figures for new vehicles by manufacturer are:
- Chrysler: $19,876 in June versus $29,590 for June 2012.
- Ford: $33,272 ($31,947)
- GM: $33,218 ($32,824)
- Honda: $27,165 ($27,055)
- Hyndai/Kia: $22,529 ($22,121)
- Nissan: $28,311 ($$28,283
- Toyota: $29,177 ($27,910)
- Volkswagen: $33,802 ($33,368)
In addition, TrueCar estimated that the average incentive for light vehicles was $2,537 in June, down $16 (-0.6%) from June 2012 and down $118 (-4.4%) from May 2013. The estimated ratio of incentives to average transaction price for light vehicles was 8.2%, down from 8.4% in June 2012 and down from 8.6% in May.
Published by The Business Journal, Youngstown, Ohio.
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