News
CHICAGO, Aug. 1, 2014 /PRNewswire/ -- Cars.com, the leading online resource for buying and selling new and used cars and a comprehensive automotive digital marketing company, estimated today that July's Average Transaction Price (ATP) for new light-vehicle sales in the United States was $29,784, down 1.1 percent (-$324) from last month and 3.7 percent (-$1,128) from July 2013.
"Generous summer discounts are evident in July's ATP and incentives spending figures," said Jesse Toprak, chief analyst at Cars.com. "ATPs fell by almost 4 percent while incentives were up by more than 8 percent compared to this time last year. A struggling full-size truck segment and strong sales for small SUVs resulted in lower ATPs, while an early start to summer clearance sales pushed incentives up to their highest level since August 2010."
Volkswagen and Chrysler-Fiat are the only two manufacturers projected to see significant year-over-year increases in ATP at 8.8 percent and 5.0 percent respectively. Nissan, Honda, Ford and Toyota all are estimated to see a substantial year-over-year decrease in ATP, while GM and Hyundai/Kia should remain flat year-over-year.
Incentive spending in July is projected to increase less than 1 percent ($23) from June, but rise a hefty 8.4 percent ($216) year-over-year. The average incentive amount for light vehicles this month was $2,774, with Hyundai/Kia, Ford, Toyota and Volkswagen all forecasted to see double-digit increases in spending, compared to July 2013. At an average incentive of $2,205, Toyota will close the month with its largest incentives since September 2011, while Honda is expected to see the greatest drop in incentive spending of Big 8 manufacturers with an 8.1 percent year-over-year decrease.
|
Manufacturer |
July 2014 Forecast Transaction Price |
June 2014 Transaction Price |
July 2013 Transaction Price |
Percent Change July 2013 to July 2014 |
Percent Change June 2014 to July 2014 |
|
Fiat-Chrysler |
$ 31,302 |
$ 31,389 |
$ 29,814 |
5.0% |
-0.3% |
|
Ford |
$ 31,508 |
$ 31,796 |
$ 33,207 |
-5.1% |
-0.9% |
|
GM |
$ 33,397 |
$ 34,504 |
$ 33,228 |
0.5% |
-3.2% |
|
Honda |
$ 25,518 |
$ 25,409 |
$ 27,208 |
-6.2% |
0.4% |
|
Hyundai/Kia |
$ 22,486 |
$ 22,568 |
$ 22,465 |
0.1% |
-0.4% |
|
Nissan |
$ 24,612 |
$ 24,585 |
$ 28,265 |
-12.9% |
0.1% |
|
Toyota |
$ 27,896 |
$ 28,321 |
$ 29,139 |
-4.3% |
-1.5% |
|
Volkswagen |
$ 36,587 |
$ 37,042 |
$ 33,614 |
8.8% |
-1.2% |
|
Industry |
$ 29,784 |
$ 30,108 |
$ 30,912 |
-3.7% |
-1.1% |
|
Manufacturer |
July 2014 Forecast Incentives |
June 2014 Incentives |
July 2013 Incentives |
Percent Change July 2013 to July 2014 |
Percent Change June 2014 to July 2014 |
|
Fiat-Chrysler |
$ 3,348 |
$ 3,426 |
$ 3,155 |
6.1% |
-2.3% |
|
Ford |
$ 3,420 |
$ 3,334 |
$ 2,983 |
14.6% |
2.6% |
|
GM |
$ 3,512 |
$ 3,398 |
$ 3,590 |
-2.2% |
3.4% |
|
Honda |
$ 1,624 |
$ 1,824 |
$ 1,768 |
-8.1% |
-11.0% |
|
Hyundai/Kia |
$ 2,006 |
$ 2,045 |
$ 1,620 |
23.8% |
-1.9% |
|
Nissan |
$ 2,462 |
$ 2,254 |
$ 2,389 |
3.1% |
9.2% |
|
Toyota |
$ 2,205 |
$ 2,075 |
$ 1,781 |
23.8% |
6.3% |
|
Volkswagen |
$ 2,976 |
$ 2,912 |
$ 2,547 |
16.9% |
2.2% |
|
Industry |
$ 2,774 |
$ 2,751 |
$ 2,558 |
8.4% |
0.8% |
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SOURCE Cars.com