January15th, 2009 by Automotive intelligence covering new car prices, best car deals and more. The Truth Will Prevail During the last month, TrueCar acquired actual sales transaction data for more than 43% of all new vehicles sold within the United States. We continue to work to grow this number aggressively. As of December 2009, this represents more than 442,000 vehicles sold nationally and 4.8 million year-to-date. TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. We obtain our data directly from car dealers, respected dealer management system (DMS) providers, and well-known data aggregators within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration an insurance data, and much, much more. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
January's TrueTrends by TrueCar report includes the following highlights:
• The best day of the month to buy a car – discounts projected at 6.62% - falls on February 1st. However, there will be two other days in that period (January 25 and February 8) that will also be above 6.5% and are great days to buy a car.
• If you are in the market for a Chevrolet and can find a 2009, now is the time. Five of the manufacturer’s models are in TrueCar’s list of Longest Days in Inventory - the Corvette, Impala, Aveo 5, Cobalt and HHR; three are among our greatest discount models - Cobalt, Silverado 1500 and Corvette.
• For 2010 models, Ford and Volvo each have two with the greatest discounts in their respective categories for the month: the Ford Ranger leads all pickups at 17% and Ford Edge bests all sedans at 13%; the Volvo C70 tops all convertibles at 12% while the XC70 is highest among wagons, also at 12%.
• Apparently fears of becoming an orphan owner (owner of a defunct brand) have kept consumers away from Saab, with the 2009 9-3 averaging nearly a year (358 days) in inventory.
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January15th, 2009
by
Automotive intelligence covering new car prices, best car deals and more.
The Truth Will Prevail
During the last month, TrueCar acquired actual sales transaction data for more than 43% of all new vehicles sold within the United States. We continue to work to grow this number aggressively. As of December 2009, this represents more than 442,000 vehicles sold nationally and 4.8 million year-to-date.
TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem.
We obtain our data directly from car dealers, respected dealer management system (DMS) providers, and well-known data aggregators within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration an insurance data, and much, much more.
TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
Score
TrueCar Price Flex Score
1
Least Flexible 2009 Models
ModelMake
Tahoe
Yukon
Escalade
G-Series
CR-V
GMC
Chevrolet
Cadillac
Infiniti
Honda
7-Series
Torrent
BMW
Pontiac
FitHonda
X5-Series
1-Series
BMW
BMW
14
12
15
19
22
30
32
32
34
34
97
97
91
90
89
85
84
84
79
77
Score
Most Flexible 2009 Models
ModelMake
H3
MX-5 Miata
Viper
New Beetle
Eos
Mazda
HUMMER
Dodge
Volkswagen
Volkswagen
Eclipse
Aveo
Mitsubishi
Chevrolet
RoutanVolkswagen
XLR
S2000
Cadillac
Honda
What is the TrueCar Price Flex Score?
The TrueCar Price Score measures the elasticity of trans-action price by model. The Price Flex Score calculation dynamically incorporates the factors that effect price variance including the model’s transaction price range, current inventory and sales data. A vehicle experiencing extremely low inventory and a small range of transaction prices will have a low Price Flex Score. Don’t expect much of a discount from the TrueCar average transaction price on a vehicle with a low Price Flex Score. If a vehicle has a high Price Flex Score, however, you have the potential to strike
a deal significantly below (or above, if you’re not careful!) the TrueCar average transaction price. Here are the 2009 and 2010 models with the highest and the lowest Price Flex Scores. We also show the models with the highest and lowest Price Flex Score within each vehicle category. The scores range from 1 to 100. A score of 1 corresponds to the lowest Price Flex Score and indicates a very small -if any- negotiation power. A score of 100 indicates the highest Price Flex Score, meaning there is a big range of transaction prices for that model.
Least and Most Flexible 2009 Vehicles ( by Body Type )
Least Flexible ModelBody Type
BMW 1-Series (Score: 34)
Smart ForTwo (Score: 40)
Chevrolet Avalanche (Score: 37)
Infiniti G-Series (Score: 19)
Chevrolet Tahoe (Score: 12)
Coupe
Convertible
Pickup
Sedan
Sport Utility
Kia Sedona (Score: 42)
Most Flexible Model
Mazda MX-5 Miata (Score: 97)
Pontiac G6 (Score: 62)
Honda Ridgeline (Score: 71)
Chevrolet Aveo (Score: 84)
Hummer H3 (Score: 97)
Volkswagen Routan (Score: 84)Van
This largest incentives list totals both available consumer and dealer incentives. The incentives are ranked by largest percent discount off MSRP. Generally, incentives are active throughout the month in which TrueTrends by TrueCar is released. Though active at the time of the reports’ release, incentives are subject to change without notice. Check for updates on the TrueCar price report for each model and with your dealer.
Least and Most Flexible 2010 Vehicles ( by Body Type )
The greatest percent below MSRP helps identify the biggest consumer discounts of the month. Below, TrueCar ranks 2009 and 2010 vehicles with average transaction prices that comprise the greatest percent off the make or model’s average MSRP.
Greatest Discounts (continued...)
Top 2009 Models ( by Body Type ) Top 2010 Models ( by Body Type )
Our projections for the best and worst day to buy a new vehicle are rooted in an analysis of historical sales as well as short term forecasts. Our projections, over the next 31 days, suggest that the best day to buy a car will be on February 1st, in time for Valentine’s Day. The worst day to buy a car will likely be on February 9th.
PRO
JEC
TED
AVE
RA
GE
DIS
CO
UN
T
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
Best Day to Buy a VehicleFebruary 1st, 2010Average Discount: 6.62%
Worst Day to Buy a VehicleFebruary 9th, 2010Average Discount: 5.42%
For each body type, TrueCar tracks the average transaction price for each trim and lists vehicles with the greatest drop in price month over month. TrueCar also ranks the trims with the overall greatest drop in price from December 11th, 2009 to January 19th, 2010.
2009 Vehicles: Shortest Days in Inventory 2009 Vehicles: Longest Days in Inventory
1
Make / ModelRank Days in Inventory
Acura MDX 27
Infiniti G37 47
Toyota Venza 49
GMC Yukon XL Denali 50
Chevy Suburban K1500
2
3
4
5 52
Nissan Cube 63
Hyundai Santa Fe 64
Chevrolet Tahoe 64
Chevy Silverado 2500 HD
6
7
8
9 67
Kia Borrego10 69
1
Make / ModelRank Days in Inventory
Saab 9-3 358
Acura TL 264
Volkswagen CC 238
Chevrolet Corvette 238
Chevrolet Impala
2
3
4
5 237
Chevrolet Aveo 5 237
Chrysler 300 233
Chevrolet Cobalt 231
Chevrolet HHR
6
7
8
9 229
Saturn Aura10 229
Shortest to Longest ( by Body Type )Industry Wide Average Days to Turn for December: 49 Days
Shortest and Longest Days in Inventory 1
9
Make / ModelRank Days in Inventory
Wagon 25
Sport Utility 27
Coupe 29
Hatchback 32
Pickup
2
3
4
5 32
Convertible 336
Van 35
Pickup
7
8 36
Sedan 36
2010 Vehicles: Shortest Days in Inventory 2010 Vehicles: Longest Days in Inventory
1
Make / ModelRank Days in Inventory
Lexus GX 460 5
Hyundai Tucson 6
Acura MDX 7
Toyota Venza 9
Nissan Cube
2
3
4
5 10
Chevy Suburban K1500 10
Toyota 4Runner 11
Lexus LS 460 L 11
Mercedes-Benz GL550
6
7
8
9 11
BMW X310 11
1
Make / ModelRank Days in Inventory
Kia Forte 72
Hyundai Sonata 71
Chevrolet Malibu 71
Honda Insight 66
Ford Mustang
2
3
4
5 65
Jaguar XF 65
Volvo C70 64
Mazda 3 60
Lincoln MKZ
6
7
8
9 59
Dodge Grand Caravan10 58
December’s Shortest and Longest Days in Inventory
TrueCar ranks the vehicles that spend, on average, the shortest and longest days on the lot before they sell. We rank both by overall shortest/longest days in inventory as well as by category. Vehicles that spend little time in inventory are in high demand, while vehicles that spend an extended time in inventory are in low demand.
Model Year Share shows the percentage share of 2009 model year vehicles sold within the last month versus vehicles of any other model year sold. Gen-erally, the higher the model year share value, the higher the discount a consumer can expect to receive on that given model. It also reflects that dealers are more likely to cut deals on a 2009 model in order to make room for a 2010.
TrueCar (www.truecar.com) is the authority in new-car pricing. It aggregates multiple data sources to show car buyers and dealers how much people actually paid for a particular car in their geographic area. It is offered online, free of charge - so anyone can know at any time what is considered a good or great price. Consumers no longer walk into the dealership only partially informed and fully suspicious: they walk in knowing exactly the price of a fair deal. Dealers gain real-time, unbiased information about
Contact Us
TrueCar, Inc.225 Santa Monica Blvd, 6th FloorSanta Monica, CA 90401(800) [email protected]
Visit us at www.truecar.com
marketplace pricing, helping them know how to price their cars to sell more and gain market share from other dealers. Led by a highly experienced team from the automotive and technology industries, TrueCar is based in Santa Monica, California.
Disclaimer
This report and the information contained herein is for your noncommercial, personal use on an “as-is, as available” basis and may be used by you for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this report and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose, and non-infringement. The information contained in this report may
include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates, or their respective partners, officers, directors, employees, or agents shall be held liable for any damages, whether direct, incidental, indirect, special, or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this report.