The average transaction price for light vehicles in the US was $30,646 in May 2014, down $149 or -0.5% compared to May 2013 and down $1,174 (-3.7%) from April 2014, according to a leading web buying site.
“Industrywide we saw average transaction prices contract slightly in May,” says Larry Dominique, President of ALG and Executive Vice President of TrueCar.
“Conversely, Chrysler and GM were able to command higher prices, while shrinking their incentive spend-to-price ratio. This is a positive brand indicator for the two automakers.”
TrueCar estimated the ratio of incentive to average transaction price for light vehicles was 8.7% in May 2014, up 1.1% from May 2013 and up 7.5% from April 2014. Chrysler, GM and Nissan are down by more than 9% in the incentive to average transaction price ratio for May compared to last year.
In addition, TrueCar estimated that the average incentive for light vehicles was $2,677 in May, up $17 (0.7%) from May 2013 and up $91 (3.5%) from April 2014.
