April Average Car Transaction Price Decreases, Increase in Incentive Spending
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CHICAGO--April 29, 2014: Cars.com estimated today that April's average transaction price (ATP) for new light vehicle sales in the United States was $29,810, up 0.4 percent ($126) from March and down 2.8 percent ($864) from April 2013.
"Continued weak sales in the full size truck segment caused the industry average transaction price to drop in April, compared to this time last year," said Jesse Toprak, chief analyst for Cars.com. "Going against the declining average, General Motors, Chrysler and Volkswagen actually experienced healthy increases in ATPs, with General Motors recording their highest ATP of 2014 despite negative publicity created by recent recalls."
Incentive spending in April is projected to be down 4.9 percent ($134) over March, but up 1.6 percent ($41) over April 2013. The average incentive for light vehicles this month was $2,580, with Honda showing the highest incentive spending levels since November 2012 and Nissan and Toyota showing the lowest since September 2013.
"Year-over-year incentive spending is still climbing quietly, and we expect overall incentive levels to continue to increase through the end of summer due to relatively high inventory levels," said Toprak.
|
Manufacturer |
April 2014 Forecast Transaction Price |
March 2014 Transaction Price |
April 2013 Transaction Price |
Percent Change April 2013 to April 2014 |
Percent Change March 2014 to April 2014 |
|
Chrysler Group |
$ 30,781 |
$ 30,396 |
$ 29,769 |
3.4% |
1.3% |
|
Ford |
$ 31,412 |
$ 31,507 |
$ 32,798 |
-4.2% |
-0.3% |
|
GM |
$ 34,604 |
$ 34,256 |
$ 32,940 |
5.1% |
1.0% |
|
Honda |
$ 25,618 |
$ 25,762 |
$ 26,841 |
-4.6% |
-0.6% |
|
Hyundai/Kia |
$ 22,501 |
$ 22,485 |
$ 22,514 |
-0.1% |
0.1% |
|
Nissan |
$ 24,702 |
$ 24,896 |
$ 27,612 |
-10.5% |
-0.8% |
|
Toyota |
$ 28,139 |
$ 28,201 |
$ 28,785 |
-2.2% |
-0.2% |
|
Volkswagen |
$ 36,027 |
$ 36,486 |
$ 33,806 |
6.6% |
-1.3% |
|
Industry Total |
$ 29,810 |
$ 29,684 |
$ 30,674 |
-2.8% |
0.4% |
|
Manufacturer |
April 2014 Forecast Incentives |
March 2014 Incentives |
April 2013 Incentives |
Percent Change April 2013 to April 2014 |
Percent Change March 2014 to April 2014 |
|
Chrysler Group |
$ 3,042 |
$ 3,294 |
$ 3,392 |
-10.3% |
-7.7% |
|
Ford |
$ 3,026 |
$ 3,238 |
$ 2,922 |
3.6% |
-6.5% |
|
GM |
$ 3,548 |
$ 3,568 |
$ 3,785 |
-6.3% |
-0.6% |
|
Honda |
$ 1,946 |
$ 1,854 |
$ 1,604 |
21.3% |
5.0% |
|
Hyundai/Kia |
$ 1,895 |
$ 2,078 |
$ 1,382 |
37.1% |
-8.8% |
|
Nissan |
$ 2,117 |
$ 2,509 |
$ 2,165 |
-2.2% |
-15.6% |
|
Toyota |
$ 1,789 |
$ 1,956 |
$ 1,571 |
13.9% |
-8.5% |
|
Volkswagen |
$ 2,530 |
$ 2,541 |
$ 2,477 |
2.1% |
-0.4% |
|
Industry Total |
$ 2,580 |
$ 2,714 |
$ 2,539 |
1.6% |
-4.9% |