SYS-CON MEDIA Authors: Xenia von Wedel, Peter Silva, Glenn Rossman, Ava Smith, Elizabeth White

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New-Car Transaction Prices Fall for Second Consecutive Month

Cars.com Chief Analyst Jesse Toprak Announces Overall Incentives at Lowest Levels Since October 2012

CHICAGO, Feb. 28, 2014 /PRNewswire/ -- Cars.com, the leading online resource for buying and selling new and used cars and a comprehensive digital marketing resource for car dealerships and manufacturers, estimated today that the average transaction price (ATP) this month for light-vehicles in the United States was $29,520, down $362 (-1.2 percent) from January and $1,320 (-4.3 percent) from February 2013.

Additionally, Jesse Toprak, chief analyst for Cars.com, announced that the average incentive this month for light vehicles was $2,372, down $11 (-0.5 percent) from January and down $106 (-4.3 percent) from February 2013.

"Strong sales of small, lower cost SUVs and decreased demand within the large-truck segment contributed to another month of declining transaction prices," said Toprak. "These are the lowest incentive levels we've seen since October 2012, but as the weather warms in the coming weeks, we expect both incentive spending and transaction prices to increase. This growth will be fueled by mounting dealer inventory and rising demand for high-priced vehicles, specifically within the luxury and large-trucks segments."

Manufacturer

February
2014 Transaction
Price

January 2014
Transaction
Price

February
2013 Transaction
Price

Percent Change
February
2013 to
February
2014

Percent
Change
January 2014
to February
2014

Chrysler Group

$30,382

$31,064

$29,474

3.1%

-2.2%

Ford

$31,694

$32,032

$32,486

-2.4%

-1.1%

GM

$33,515

$33,845

$32,763

2.3%

-1.0%

Honda

$26,018

$26,312

$27,286

-4.6%

-1.1%

Hyundai/Kia

$22,506

$22,476

$23,304

-3.4%

0.1%

Nissan

$24,647

$25,262

$25,506

-3.4%

-2.4%

Toyota

$28,025

$28,502

$29,486

-5.0%

-1.7%

Volkswagen

$35,718

$35,442

$34,421

3.8%

0.8%

Industry

$29,520

$29,882

$30,840

-4.3%

-1.2%

 

Manufacturer

February
2014
Incentives

January 2014
Incentives

February
2013
Incentives

Percent
Change
February
2013 to February
2014

Percent
Change
January 2014
to February
2014

Chrysler Group

$2,764

$2,776

$3,292

-16.0%

-0.4%

Ford

$3,197

$3,264

$2,896

10.4%

-2.1%

GM

$2,849

$2,792

$3,376

-15.6%

2.0%

Honda

$1,756

$1,661

$1,218

44.2%

5.7%

Hyundai/Kia

$2,040

$1,945

$1,429

42.8%

4.9%

Nissan

$2,562

$2,359

$2,570

-0.3%

8.6%

Toyota

$1,878

$1,920

$1,587

18.3%

-2.2%

Volkswagen

$2,349

$2,098

$1,869

25.7%

12.0%

Industry

$2,372

$2,383

$2,478

-4.3%

-0.5%

ABOUT CARS.COM
Cars.com is an award-winning online destination for car shoppers that offers information from consumers and experts to help buyers formulate opinions on what to buy, where to buy and how much to pay for a car. Cars.com offers thousands of new and used vehicle listings, consumer reviews, side-by-side comparison tools, photo galleries, videos, unbiased editorial content and many other tools to take the drama out of car shopping. Cars.com puts millions of car buyers in control of their shopping process with the information they need to make confident buying decisions. Launched in June 1998, Cars.com is a division of Classified Ventures LLC, which is owned by leading media companies, including A.H. Belo (NYSE: AHC), Gannett Co., Inc. (NYSE: GCI), The McClatchy Company (NYSE: MNI), Tribune Company and The Washington Post Company (NYSE: WPO).

SOURCE Cars.com

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