GANNETT CO., INC. 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 September 2014 Transaction Price October 2013 Transaction Price Percent Change October Percent Change September 2014 to
Price 2013 to October 2014 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 Percent Change September 2014 to
2013 to October 2014 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
