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Hyundai/Kia Have Record Transaction Prices in August 2012; Industry Incentives Decline for Fourth Consecutive Month According to TrueCar.com Ford Has Highest Transaction Prices Since June 2011; Hyundai/Kia Have Lowest Incentives Ever, Chrysler and GM Have Lowest Incentive Spending Since June 2011 For Immediate Release Contacts: Chintan Talati [email protected] 210-‐884-‐3675 SANTA MONICA, Calif. (September 4, 2012) –TrueCar.com, the authority on car pricing, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $30,274 in August 2012, up $428 (1.4 percent) from August 2011 and down $95 (0.3 percent) from July 2012. "Consumers’ preferences concentrated on the two extreme ends of the segments in August: small cars and large trucks both enjoyed market share gains – a trend that more or less resulted in a wash from the previous month," said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com. “The increase in transaction prices compared to last year while lowering incentive spending shows the strengthening demand for new vehicles and a positive sign for the automakers’ bottom line.” Manufacturer Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) Ford (Ford, Lincoln) GM (Buick, Cadillac, Chevrolet, GMC) Honda (Acura, Honda) Hyundai/Kia Nissan (Nissan, Infiniti) Toyota (Lexus, Scion, Toyota) Volkswagen (Audi, Volkswagen) Industry August 2012 Transaction Price July 2012 Transaction Price Percent Change August 2011 August 2011 Transaction to August Price 2012 Percent Change July 2012 to August 2012 $29,596 $32,196 $29,647 $32,089 $28,700 $31,829 3.1% 1.2% -‐0.2% 0.3% $32,391 $26,767 $22,378 $27,708 $32,554 $27,123 $22,340 $27,892 $32,344 $26,580 $21,144 $27,421 0.1% 0.7% 5.8% 1.0% -‐0.5% -‐1.3% 0.2% -‐0.7% $27,845 $28,074 $27,343 1.8% -‐0.8% $33,207 $30,274 $33,366 $30,369 $32,985 $29,846 0.7% 1.4% -‐0.5% -‐0.3% In addition, TrueCar.com estimated that the average incentive for light-‐vehicles was $2,457 in August 2012, down $158 (6.0 percent) from August 2011 and down $49 (2.0 percent) from July 2012. Percent Percent Change Change August 2011 July 2012 August 2012 July 2012 August 2011 to August to August Manufacturer Incentives Incentives Incentives 2012 2012 Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) $3,088 $3,117 $3,385 -‐8.8% -‐0.9% Ford (Ford, Lincoln) $2,621 $2,699 $2,699 -‐2.9% -‐2.9% GM (Buick, Cadillac, Chevrolet, GMC) $2,990 $3,063 $3,118 -‐4.1% -‐2.4% Honda (Acura, Honda) $2,216 $2,263 $2,228 -‐0.5% -‐2.1% Hyundai/Kia $1,071 $1,078 $1,289 -‐16.9% -‐0.6% Nissan (Nissan, Infiniti) $2,903 $3,170 $2,773 4.7% -‐8.4% Toyota (Lexus, Scion, Toyota) $1,904 $1,826 $2,417 -‐21.2% 4.3% Volkswagen (Audi, Volkswagen) $2,568 $2,633 $1,843 39.3% -‐2.5% Industry $2,457 $2,506 $2,614 -‐6.0% -‐2.0% TrueCar.com estimated that the ratio of incentives to average transaction price for light-‐vehicles was 8.1 percent in August 2012, down from 8.8 percent in August 2011 and down from 8.3 percent in July 2012. August 2012 July 2012 August 2011 Percent Percent Incentives/
Incentives/
Incentives/ Change Change Avg. Avg. Avg. August 2011 July 2012 Transaction Transaction Transaction to August to August Manufacturer Price Price Price 2012 2012 Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat) 10.4% 10.5% 11.8% -‐1.4% -‐0.1% Ford (Ford, Lincoln) 8.1% 8.4% 8.5% -‐0.3% -‐0.3% GM (Buick, Cadillac, Chevrolet, GMC) 9.2% 9.4% 9.6% -‐0.4% -‐0.2% Honda (Acura, Honda) 8.3% 8.3% 8.4% -‐0.1% -‐0.1% Hyundai/Kia 4.8% 4.8% 6.1% -‐1.3% 0.0% Nissan (Nissan, Infiniti) 10.5% 11.4% 10.1% 0.4% -‐0.9% Toyota (Lexus, Scion, Toyota) 6.8% 6.5% 8.8% -‐2.0% 0.3% Volkswagen (Audi, Volkswagen) 7.7% 7.9% 5.6% 2.1% -‐0.2% Industry 8.1% 8.3% 8.8% -‐0.6% -‐0.1% About TrueCar, Inc. TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in San Francisco, Calif., and Austin, Texas, is an automotive pricing and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, its automotive information website, TrueCar.com, provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-‐equipped new cars in their geographic area. TrueCar is a data-‐driven company that sources and compiles car-‐buying information unlike anybody in the industry. Since its founding in 2005, TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide. TrueCar’s national network of more than 4,600 Certified Dealers is committed to provide no-‐hassle pricing for some of the country’s largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-‐market customers. You can follow TrueCar on Twitter and become a fan of TrueCar on Facebook. You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+. Disclaimer This press release and the information contained herein is for noncommercial use on “as-‐is, as available” basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-‐infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release. # # # #