News

October Average Transaction Price Reaches Highest Mark of 2014
Cars.com reports SUV and truck sales propel new-car market to YTD highs

CHICAGO, Nov. 3, 2014 /PRNewswire/ -- Cars.com reports today that October's Average Transaction Price (ATP) for new light-vehicle sales in the United States was $30,382, up 0.1 percent ($42) from September, and down -1.4 percent (-$416) from October 2013.

"ATPs reached their highest point so far this year in October, thanks to the resurgence of higher priced SUV and truck sales," said Jesse Toprak, chief analyst at Cars.com. "However, a year-over-year decline in ATPs and an increase in incentive spending indicate relative softening in consumer demand. We anticipate that automakers will be aggressive, yet strategic, with their incentive and marketing programs through the end of the year, finishing 2014 with approximately 16.5 million units sold."

Fiat Chrysler and General Motors are projected to report their highest ATPs ever, while Hyundai/Kia is expected to see its highest ATP since September 2012.  

Incentive spending in October is projected to increase 6.1 percent ($158) year-over-year, but drop 7.2 percent (-$215) compared to September. The average incentive amount for light-vehicles this month is expected to be $2,759.

Each of the Big 8 automakers has decreased incentive spending since September, but averages have increased across the board, except for General Motors, since this time last year.

 

Manufacturer

October 2014 Forecast Transaction Price

September  2014 Transaction Price

October 2013 Transaction Price

Percent Change October 2013 to October 2014

Percent Change September 2014 to October 2014

Fiat Chrysler

$       31,824

$       31,796

$       30,983

2.7%

0.1%

Ford

$       32,896

$       32,141

$       33,986

-3.2%

2.3%

GM

$       35,861

$       35,742

$       34,672

3.4%

0.3%

Honda

$       25,169

$       25,270

$       27,586

-8.8%

-0.4%

Hyundai/Kia

$       23,105

$       22,875

$       22,485

2.8%

1.0%

Nissan

$       24,549

$       24,459

$       28,362

-13.4%

0.4%

Toyota

$       28,323

$       28,103

$       29,463

-3.9%

0.8%

Volkswagen

$       36,247

$       36,896

$       35,527

2.0%

-1.8%

Industry

$       30,382

$       30,340

$       30,798

-1.4%

0.1%

 

Manufacturer

October 2014 Forecast Incentives

September 2014 Incentives

October 2013 Incentives

Percent Change October 2013 to October 2014

Percent Change September 2014 to October 2014

Fiat Chrysler

$         3,364

$         3,531

$         3,170

6.1%

-4.7%

Ford

$         3,408

$         3,591

$         3,329

2.4%

-5.1%

GM

$         3,349

$         3,670

$         3,404

-1.6%

-8.7%

Honda

$         2,048

$         2,191

$         1,568

30.6%

-6.5%

Hyundai/Kia

$         2,037

$         2,051

$         1,879

8.4%

-0.7%

Nissan

$         3,196

$         3,235

$         2,152

48.5%

-1.2%

Toyota

$         1,987

$         2,201

$         1,852

7.3%

-9.7%

Volkswagen

$         2,655

$         2,784

$         2,178

21.9%

-4.6%

Industry

$         2,759

$         2,974

$         2,601

6.1%

-7.2%

 

About Cars.com

Launched in 1998, Cars.com is a leading independent research site for car shoppers with approximately 30 million visits per month. The Chicago-based company provides shoppers with credible and easy-to-understand information from consumers and experts.  Leveraging its growing audience, Cars.com informs digital marketing strategies through consumer insights and innovative products, helping automotive dealers and manufacturers more effectively reach in-market car shoppers. Cars.com is owned by Gannett Co., Inc. (NYSE: GCI). For more information, visit www.dealers.cars.com

      

SOURCE Cars.com

For further information: Thomas Muellner, tmuellner@cars.com, 312-601-5635