TrueCar: Transaction Prices Up 1.1 Percent in March
Santa Monica, Calif. — The average transaction price for light vehicles in the United States was $31,087 in March 2013, up $339 (1.1 percent) from March 2012 and up $129 (0.4 percent) from February, according TrueCar. In addition, TrueCar estimated that the average incentive for light vehicles was $2,523 in March 2013, down $44, or 1.7 percent, from March 2012. Compared to February, incentive spending remained relatively unchanged.
“Manufacturers continue to benefit from consumers' insatiable appetite for highly contented new vehicles, as shown by average transaction prices exceeding $31,000 in March,” said Jesse Toprak, senior analyst for TrueCar. “Coupled with flat incentive spending and higher volume, near-record transaction prices herald positive earnings news for the industry.”
TrueCar estimated the ratio of incentives to average transaction price for light vehicles was 8.1 percent in March, down from 8.3 percent in March 2012 and down from 8.2 percent in February 2013.
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