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New-Car Transaction Prices Fall for Second Consecutive Month


new car buyers

CHICAGO--Feb. 28, 2014: Cars.com estimated today that the average transaction price (ATP) this month for light-vehicles in the United States was $29,520, down $362 (-1.2 percent) from January and $1,320 (-4.3 percent) from February 2013.

Additionally, Jesse Toprak, chief analyst for Cars.com, announced that the average incentive this month for light vehicles was $2,372, down $11 (-0.5 percent) from January and down $106 (-4.3 percent) from February 2013.

"Strong sales of small, lower cost SUVs and decreased demand within the large-truck segment contributed to another month of declining transaction prices," said Toprak. "These are the lowest incentive levels we've seen since October 2012, but as the weather warms in the coming weeks, we expect both incentive spending and transaction prices to increase. This growth will be fueled by mounting dealer inventory and rising demand for high-priced vehicles, specifically within the luxury and large-trucks segments."

Manufacturer

February
2014 Transaction
Price

January 2014
Transaction
Price

February
2013 Transaction
Price

Percent Change
February
2013 to
February
2014

Percent
Change
January 2014
to February
2014

Chrysler Group

$30,382

$31,064

$29,474

3.1%

-2.2%

Ford

$31,694

$32,032

$32,486

-2.4%

-1.1%

GM

$33,515

$33,845

$32,763

2.3%

-1.0%

Honda

$26,018

$26,312

$27,286

-4.6%

-1.1%

Hyundai/Kia

$22,506

$22,476

$23,304

-3.4%

0.1%

Nissan

$24,647

$25,262

$25,506

-3.4%

-2.4%

Toyota

$28,025

$28,502

$29,486

-5.0%

-1.7%

Volkswagen

$35,718

$35,442

$34,421

3.8%

0.8%

Industry

$29,520

$29,882

$30,840

-4.3%

-1.2%

 

Manufacturer

February
2014
Incentives

January 2014
Incentives

February
2013
Incentives

Percent
Change
February
2013 to February
2014

Percent
Change
January 2014
to February
2014

Chrysler Group

$2,764

$2,776

$3,292

-16.0%

-0.4%

Ford

$3,197

$3,264

$2,896

10.4%

-2.1%

GM

$2,849

$2,792

$3,376

-15.6%

2.0%

Honda

$1,756

$1,661

$1,218

44.2%

5.7%

Hyundai/Kia

$2,040

$1,945

$1,429

42.8%

4.9%

Nissan

$2,562

$2,359

$2,570

-0.3%

8.6%

Toyota

$1,878

$1,920

$1,587

18.3%

-2.2%

Volkswagen

$2,349

$2,098

$1,869

25.7%

12.0%

Industry

$2,372

$2,383

$2,478

-4.3%

-0.5%