As the auto industry rebounds from the financial difficulties of the past few years, good indicators of financial health abound. It’s a testament to both the health of the industry and the quality of the average car these days that average transaction prices reached unprecedented highs this October for Volkswagen, General Motors, Toyota, Chrysler and Ford.
“Expect to see incentives to jump in the fourth quarter — competition for market share will be fierce,” senior analyst for TrueCar, Jesse Toprak, said. “Average transaction prices continue to hover around record levels thanks to the consumers’ demand for vehicles loaded up with options.”
Volkswagen: Transaction prices are up 6.3% between October 2012 and October 2013, and up 2.3% between September 2013 and October 2013. Its incentives are down 8.7% between September and October 2013.
General Motors: Transaction prices are up 6.5% between October 2012 and October 2013, and up 1.7% between September 2013 and October 2013. Its incentives are down 8.9% between September 2013 and October 2013.
Toyota: Transaction prices are up 5.6% between October 2013 and October 2013, and up 0.7% between September 2013 and October 2013. Its incentives are down 3.1% between September 2013 and October 2013.
Chrysler: Transaction prices are up 4.9% between October 2012 and October 2013, and up 1.3% between September 2013 and October 2013. Its incentives are up 0.8% between September 2013 and October 2013.
Ford: Transactions prices are up 5.7% between October 2012 and October 2013, and up 0.7% between September 2012 and October 2013. Its incentives are up 2.7% between September 2013 and October 2013.
Industry wide, transaction prices are up 1.0% from October 2012 to October 2013 and up 0.7% from September 2013 to October 2013.
