SANTA MONICA, Calif.--(BUSINESS WIRE)--
TrueCar, Inc. (NASDAQ: TRUE) projects U.S. revenue from new vehicle sales reached $45 billion for the month of November, up 1.6 percent from a year ago.
Despite lower average transaction prices, automakers should post a $712 million gain in revenue compared to last year due to two more selling days in November 2016 versus a year ago.
Average Transaction Prices in November 2016 are growing by 1.2 percent compared to the prior month while showing a loss of 1.9 percent over the prior year.
“Despite healthy economic fundamentals and strong demand for new vehicles, incentive spending is expected to be up by a record 13 percent year-over-year, affecting transaction prices negatively for the outgoing 2016 model year,” said Oliver Strauss, TrueCar’s chief economist. “Nevertheless, two more selling days in November 2016 are helping the automakers generate more overall revenue than a year ago.”
Ford and GM are expected to grow by 2.9 and 1.7 percent in average transaction prices year-over-year, respectively. Volkswagen Group continues to accelerate by 3.1 percent versus November 2015, a possible indication of continued signs of recovery from the TDI emissions issues a year ago.
TrueCar estimates the average transaction price (ATP) for a new light vehicle was $32,667 in November, down 1.9 percent from a year ago. Average incentive spending per unit grew by $399 to $3,475. The ratio of incentive spending to ATP was 10.6 percent, up from 9.2 percent a year ago.
|
Average Transaction Price (ATP) |
||||||||||
|
Manufacturer |
Nov. 2016 |
Nov. 2015 |
Oct. |
Percent Nov. 2015 |
Percent |
|||||
| BMW (BMW, Mini) | $49,810 | $50,894 | $49,594 | -2.1% | 0.4% | |||||
| Daimler (Mercedes-Benz, Smart) | $58,443 | $59,665 | $57,864 | -2.0% | 1.0% | |||||
| FCA (Chrysler, Dodge, Jeep, Ram, Fiat) | $33,263 | $33,304 | $33,701 | -0.1% | -1.3% | |||||
| Ford (Ford, Lincoln) | $35,978 | $34,954 | $36,750 | 2.9% | -2.1% | |||||
| GM (Buick, Cadillac, Chevrolet, GMC) | $36,774 | $36,148 | $36,701 | 1.7% | 0.2% | |||||
| Honda (Acura, Honda) | $28,031 | $27,908 | $27,753 | 0.4% | 1.0% | |||||
| Hyundai | $22,649 | $23,419 | $22,993 | -3.3% | -1.5% | |||||
| Kia | $24,029 | $24,041 | $24,174 | 0.0% | -0.6% | |||||
| Nissan (Nissan, Infiniti) | $26,693 | $27,862 | $28,306 | -4.2% | -5.7% | |||||
| Subaru | $28,059 | $27,519 | $28,429 | 2.0% | -1.3% | |||||
| Toyota (Lexus, Scion, Toyota) | $31,438 | $31,468 | $30,463 | -0.1% | 3.2% | |||||
| Volkswagen (Audi, Porsche, Volkswagen) | $41,339 | $40,080 | $41,630 | 3.1% | -0.7% | |||||
|
Industry |
$32,667 |
$33,305 |
$32,279 |
-1.9% |
1.2% |
|||||
|
Incentive per Unit Spending |
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|
Manufacturer |
Nov. 2016 |
Nov. 2015 |
Oct. 2016 |
Percent Change |
Percent |
|||||
| BMW (BMW, Mini) | $6,279 | $5,012 | $6,472 | 25.3% | -3.0% | |||||
| Daimler (Mercedes-Benz, Smart) | $4,660 | $4,870 | $4,770 | -4.3% | -2.3% | |||||
| FCA (Chrysler, Dodge, Jeep, Ram, Fiat) | $4,154 | $3,523 | $4,185 | 17.9% | -0.7% | |||||
| Ford (Ford, Lincoln) | $3,982 | $3,238 | $4,060 | 23.0% | -1.9% | |||||
| GM (Buick, Cadillac, Chevrolet, GMC) | $4,305 | $3,819 | $4,456 | 12.7% | -3.4% | |||||
| Honda (Acura, Honda) | $1,936 | $1,826 | $1,899 | 6.0% | 1.9% | |||||
| Hyundai | $2,468 | $2,184 | $2,467 | 13.0% | 0.0% | |||||
| Kia | $3,164 | $2,990 | $3,133 | 5.8% | 1.0% | |||||
| Nissan (Nissan, Infiniti) | $4,209 | $3,746 | $4,236 | 12.4% | -0.6% | |||||
| Subaru | $1,145 | $574 | $1,097 | 99.5% | 4.4% | |||||
| Toyota (Lexus, Scion, Toyota) | $2,420 | $2,357 | $2,429 | 2.7% | -0.4% | |||||
| Volkswagen (Audi, Porsche, Volkswagen) | $3,751 | $3,533 | $3,855 | 6.2% | -2.7% | |||||
|
Industry |
$3,475 |
$3,076 |
$3,525 |
13.0% |
-1.4% |
|||||
|
Incentive Spending as a Percentage of ATP |
||||||||||
|
Manufacturer |
Nov. 2016 |
Nov. 2015 |
Oct. 2016 |
Percent Change |
Percent |
|||||
| BMW (BMW, Mini) | 12.6% | 9.8% | 13.0% | 28.0% | -3.4% | |||||
| Daimler (Mercedes-Benz, Smart) | 8.0% | 8.2% | 8.2% | -2.3% | -3.3% | |||||
| FCA (Chrysler, Dodge, Jeep, Ram, Fiat) | 12.5% | 10.6% | 12.4% | 18.1% | 0.6% | |||||
| Ford (Ford, Lincoln) | 11.1% | 9.3% | 11.0% | 19.5% | 0.2% | |||||
| GM (Buick, Cadillac, Chevrolet, GMC) | 11.7% | 10.6% | 12.1% | 10.8% | -3.6% | |||||
| Honda (Acura, Honda) | 6.9% | 6.5% | 6.8% | 5.6% | 0.9% | |||||
| Hyundai | 10.9% | 9.3% | 10.7% | 16.8% | 1.6% | |||||
| Kia | 13.2% | 12.4% | 13.0% | 5.9% | 1.6% | |||||
| Nissan (Nissan, Infiniti) | 15.8% | 13.4% | 15.0% | 17.3% | 5.4% | |||||
| Subaru | 4.1% | 2.1% | 3.9% | 95.6% | 5.8% | |||||
| Toyota (Lexus, Scion, Toyota) | 7.7% | 7.5% | 8.0% | 2.8% | -3.5% | |||||
| Volkswagen (Audi, Porsche, Volkswagen) | 9.1% | 8.8% | 9.3% | 3.0% | -2.0% | |||||
|
Industry |
10.6% |
9.2% |
10.9% |
15.2% |
-2.6% |
|||||
About TrueCar
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 13,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over one third of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.
TrueCar media line: +1-844-469-8442 (US toll-free) | Email: [email protected]
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