August's Average Transaction Prices Lowest Since February
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CHICAGO -- Sept. 3, 2014: Cars.com reports today that August's Average Transaction Price (ATP) for new light-vehicle sales in the United States was $29,670, down 4.6 percent (-$1,437) from August 2013 and 0.4 percent (-$114) from last month.
"Consumers still prefer well-equipped vehicles, so even though the vehicles they're buying have lower base prices, they're buying the more expensive versions, which is positive news for OEM profitability," said Jesse Toprak, chief analyst at Cars.com. "We expect a significant boost in sales for the truck segment in the fourth quarter, which should result in an increase in ATPs to finish the year."
Though the industry average is down, Hyundai/Kia is projected to have its highest ATP since March 2013. Additionally, Volkswagen's ATP is up 7.2 percent over this time last year at $36,780 – the highest average in August among the Big 8 automakers.
Incentive spending in August is projected to increase 6.8 percent ($171) year-over-year, but will drop 6.2 percent (-$179) compared to July. The average incentive amount for light-vehicles this month was $2,704. Each of the Big 8 automakers cut spending this month over last, except Honda, which increased its incentive spending by 1.9 percent ($34). GM's incentive spending is expected to drop 10.6 percent (-$391) over July.
|
Manufacturer | August 2014 Forecast Transaction Price |
July 2014 Transaction Price | August 2013 Transaction Price |
Percent Change August 2013 to August 2014 | Percent Change July 2014 to August 2014 |
| Fiat Chrysler |
$ 31,374 | $ 31,302 | $ 30,317 |
3.5% |
0.2% |
| Ford | $ 31,442 | $ 31,508 | $ 33,460 |
-6.0% |
-0.2% |
| GM | $ 34,395 | $ 33,397 | $ 33,209 |
3.6% |
3.0% |
| Honda | $ 25,249 | $ 25,518 | $ 26,721 |
-5.5% |
-1.1% |
| Hyundai/Kia | $ 22,614 | $ 22,486 | $ 22,418 |
0.9% |
0.6% |
| Nissan | $ 24,621 | $ 24,612 | $ 27,513 |
-10.5% | 0.0% |
| Toyota | $ 27,568 | $ 27,896 | $ 28,068 |
-1.8% |
-1.2% |
| Volkswagen | $ 36,780 | $ 36,587 | $ 34,317 |
7.2% |
0.5% |
| Industry |
$ 29,670 | $ 29,784 | $ 31,107 | -4.6% | -0.4% |
|
Manufacturer | August 2014 Forecast Incentives | July 2014 Incentives | August 2013 Incentives | Percent Change August 2013 to August 2014 | Percent Change July 2014 to August 2014 |
| Fiat Chrysler | $ 3,368 | $ 3,451 | $ 3,078 | 9.4% |
-2.4% |
| Ford | $ 3,424 | $ 3,501 | $ 2,932 | 16.8% | -2.2% |
| GM | $ 3,289 | $ 3,680 | $ 3,552 | -7.4% |
-10.6% |
| Honda | $ 1,868 | $ 1,834 | $ 1,628 | 14.7% | 1.9% |
| Hyundai/Kia | $ 1,886 | $ 1,978 | $ 1,718 | 9.8% |
-4.6% |
| Nissan | $ 2,810 | $ 2,891 | $ 2,541 | 10.6% | -2.8% |
| Toyota | $ 2,169 | $ 2,188 | $ 1,866 | 16.2% |
-0.9% |
| Volkswagen | $ 3,048 | $ 3,222 | $ 2,599 | 17.3% | -5.4% |
| Industry | $ 2,704 | $ 2,883 | $ 2,533 | 6.8% | -6.2% |
