Transaction Prices Rise In September 2012 According To TrueCar.com
On October 2, car pricing website TrueCar.com estimated that the average transaction price for light vehicles in the United States was $30,282 in September 2012, up $264 (0.9 percent) from September 2011, and up $8 (0.0 percent) from August 2012.
"Transaction prices in September are as stable as the sales rate, while still being the highest in years," said Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. "This stability is another indication of consumer demand; the data this month indicates that the automotive marketplace has found a new equilibrium that is sustainable and growing at a healthy pace."
In addition, the site estimated that the average incentive for light-vehicles was $2,468 in September 2012, down $176 (6.7 percent) from September 2011, and down $31 (1.2 percent) from August 2012. Toprak continues, "Market conditions continue to be ideal for automakers with lower incentive spending, high average transaction rates, and double digit sales growth."
The site estimated that the ratio of incentives to average transaction price for light-vehicles was 7.5 percent in September 2012, down from 8.2 percent in September 2011, and up from 6.9 percent in August 2012.
