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New Car Transaction Prices in January 2014 Fall Below $30,000


PHOTO

CHICAGO--Jan. 30, 2014: Cars.com estimated today that the average transaction price (ATP) for light vehicles in the U.S. was $29,882 in January 2014, down $356 (-1.2 percent) from January 2013; and down $1,032 (-3.3 percent) from December 2013.

In addition, Cars.com estimated that the average incentive for light vehicles was $2,383 in January 2014, down $151 (6.0 percent) from January 2013; and down $425 (-15.1 percent) from December 2013.

"After what appeared to be an unstoppable run, transaction prices finally experienced a measurable drop in January," said Jesse Toprak, Chief Analyst for Cars.com. "The Dow dropped more than 500 points causing buyers to hesitate in purchasing vehicles with higher price tags while vehicles under $30,000 carried the industry sales to an essentially flat performance. Even though the incentives dropped this month, the current pace of inventory accumulation at the dealerships has the potential to cause heated incentive battles in competitive segments in the coming months."

Manufacturer

January 2014

Transaction

Price

December

2013

Transaction

Price

January 2013

Transaction

Price

Percent

Change

January 2013

to January

2014

Percent

Change

December

2013 to

January 2014

Chrysler Group

$31,064

$31,749

$31,201

-0.4%

-2.2%

Ford

$32,032

$32,715

$32,204

-0.5%

-2.1%

GM

$33,845

$34,838

$34,662

-2.4%

-2.9%

Honda

$26,312

$26,746

$26,031

1.1%

-1.6%

Hyundai/Kia

$22,476

$22,422

$21,977

2.3%

0.2%

Nissan

$25,262

$26,257

$25,069

0.8%

-3.8%

Toyota

$28,502

$29,601

$28,105

1.4%

-3.7%

Volkswagen

$35,442

$36,433

$33,479

5.9%

-2.7%

Industry

$29,882

$30,914

$30,238

-1.2%

-3.3%

 

Manufacturer

January 2014

Incentives

December

2013

Incentives

January 2013

Incentives

Percent

Change

January 2013

to January

2014

Percent

Change

December

2013 to

January 2014

Chrysler Group

$2,776

$2,992

$3,368

-17.6%

-7.2%

Ford

$3,264

$3,625

$2,833

15.2%

-10.0%

GM

$2,792

$3,458

$3,004

-7.1%

-19.3%

Honda

$1,661

$1,706

$1,116

48.8%

-2.6%

Hyundai/Kia

$1,945

$2,042

$1,803

7.9%

-4.8%

Nissan

$2,359

$2,998

$2,419

-2.5%

-21.3%

Toyota

$1,920

$2,174

$1,874

2.5%

-11.7%

Volkswagen

$2,098

$2,319

$2,114

-0.8%

-9.5%

Industry

$2,383

$2,808

$2,534

-6.0%

-15.1%