July TrueTrends by TrueCar

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July TrueTrends by TrueCar

  1. 1. by Automotive intelligence covering new car prices, best car deals and more. July 15th, 2010 The Truth Will Prevail The TrueTrends monthly report includes TrueCar’s unique of BMW’s offerings are available in 2011 models, including Price Flex Score, identifying new cars with the most the 3, 5 and 7 Series, M3, X5, X6 and Z4. negotiating room, as well as best deals by Greatest Percentage below MSRP, Total Incentives, Greatest Price • Vans, subcompact cars, and sport cars are where the best Drops and Days in Inventory. Highlights included: potential inventory-based discounts will be seen. On average, convertibles are staying in inventory for 137 days, • The Greatest Discount section features makes and while subcompact cars and sport cars are on-lot for 79 days models that offer the highest discounts on 2010 and 2011 and 72 days respectively. Meanwhile, Luxury SUVs models. continue to move off the lots quickly, with an average inventory stay of 31 days. • Model year 2010 domestic makes including Chevrolet, Ford, Mercury, GMC, and Chrysler offer the biggest • The Mitsubishi Lancer Sportback is a potential steal, discounts. remaining in inventory at an average of 166 days. However, it will be tough finding a Lexus LX 570, which has an • Foreign automakers including Toyota, Honda, BMW, and average stay of 12 days. Kia are offering the biggest discounts on 2011 makes. • In this edition we’ve added vehicle category breakdowns • Wednesday, July 28th will be the day consumers can for least and most flexible vehicles, greatest discounts, expect the best buys for the month, with a projected 12.5% greatest price drop, and days in inventory. discount from MSRP. In addition, the first half of August will see steady discounts over 8%. • These TrueTrends findings will provide consumers with the insights necessary to be better prepared before • BMW is leading the way in sales of 2011 models, with purchasing their vehicle. 66.6% of their month’s sales coming on 2011 models. Most How the TrueCar Price Flex Score Works The TrueCar Price Flex Score measures the elasticity of a deal significantly below (or above, if you’re not careful!) the transaction price by model. The Price Flex Score calcula- TrueCar average transaction price. Here are the 2010 tion dynamically incorporates the factors that affect price models with the highest and the lowest Price Flex Scores. variance including the model’s transaction price range, We also show the models with the highest and lowest Price current inventory and sales data. A vehicle experiencing Flex Score within each vehicle category. The scores range extremely low inventory and a small range of transaction from 1 to 100. A score of 1 corresponds to the lowest Price prices will have a low Price Flex Score. Don’t expect much Flex Score and indicates a very small -if any- negotiation of a discount from the TrueCar average transaction price on power. A score of 100 indicates the highest Price Flex a vehicle with a low Price Flex Score. If a vehicle has a high Score, meaning there is a big range of transaction prices for Price Flex Score, however, you have the potential to strike that model.
  2. 2. TrueCar Price Flex Score Least and Most Flexible 2010 Vehicles ( by Vehicle Category ) Vehicle Category Least Flexible Model Most Flexible Model Large Car Buick Lucerne (Score: 5) Toyota Avalon (Score: 76) Large SUV GMC Acadia (Score: 3) Nissan Armada (Score: 57) Large Truck Chevrolet Avalanche (Score: 21) Nissan Titan (Score: 98) Luxury Car Audi A3 (Score: 1) Cadillac DTS (Score: 92) Luxury Sport Car Audi A5 (Score: 2) Nissan GT-R (Score: 87) Luxury SUV Audi Q5 (Score: 1) Infiniti FX50 (Score: 88) Midsize Car Mercury Milan (Score: 10) Nissan Altima Score: 97) Midsize SUV Ford Explorer (Score: 6) Mitsubishi Endeavor (Score: 99) Minivan Honda Odyssey (Score: 30) Mazda MAZDA5 (Score: 99) Small Car Subaru Impreza Wagon WRX (Score: 24) Honda Insight (Score: 100) Small SUV Mercury Mariner (Score: 4) Mazda Tribute (Score: 94) Small Truck Ford Explorer Sport Trac (Score: 3) Nissan Frontier (Score: 94) Sport Car MINI Cooper Convertible (Score: 9) Mazda RX-8 (Score: 97) Subcompact Car MINI Cooper Clubman (Score: 16) Toyota Yaris (Score: 99) Van Chevrolet Express Passenger (Score: 16) Chevrolet Express Cargo Van (Score: 84) TrueCar Price Flex Score Least Flexible 2010 Models Most Flexible 2010 Models Score Make Model Score Make Model 1 Audi A3 100 Chrysler PT Cruiser Classic 3 GMC Acadia 100 Honda Insight 3 Ford Explorer Sport Trac 99 Mazda MAZDA5 4 Infiniti QX56 98 Mitsubishi Endeavor 4 Lexus SC 430 99 Toyota Yaris 4 Mercury Mariner 98 Nissan Titan 5 Buick Lucerne 98 Volkswagen Routan 6 Acura MDX 97 Dodge Nitro 6 Land Rover LR4 95 Kia Forte 8 Chevrolet Traverse 93 Chevrolet Colorado Only one model per make was selected for the least and most flexible models. July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 1
  3. 3. Greatest Discounts Top Discounts ( by Vehicle Category ) Top Discounts Average % Below Rank Vehicle Category MSRP The greatest percent below MSRP helps identify 1 Large Truck 11% the biggest consumer discounts of the month. 2 Midsize Car 8% Below, TrueCar ranks 2010 and 2011 vehicles with average transaction prices that comprise the 3 Large SUV 8% greatest percent off the make or model’s average 4 Large Car 8% MSRP. 5 Luxury Car 7% 6 Small SUV 7% 7 Minivan 6% 8 Small Car 6% 9 Luxury Sport Car 6% 10 Small Truck 5% 11 Luxury SUV 5% 12 Midsize SUV 5% 13 Van 4% 14 Sport Car 4% 15 Subcompact Car 3% Top 2010 Models ( by Vehicle Category ) Top 2011 Models ( by Vehicle Category ) % Below % Below Vehicle Category Model MSRP Vehicle Category Model MSRP Large Truck Chevrolet Silverado 1500 22% Large Car Toyota Avalon 10% Midsize SUV Jeep Grand Cherokee 20% Midsize Car Toyota Camry 10% Midsize Car Hyundai Sonata 18% Midsize SUV Honda Pilot 8% Small Truck Ford Ranger 17% Luxury Car Volvo C70 8% Large Car Mercury Grand Marquis 16% Minivan Toyota Sienna 8% Small Car Ford Focus 15% Luxury Sport Car BMW M3 7% Large SUV Chevrolet Tahoe 14% Luxury SUV BMW X5 7% Luxury SUV Lincoln MKX 14% Sport Car Ford Mustang 5% Sport Car Ford Mustang 14% Minivan Kia Sedona 13% Luxury Sport Car Chevrolet Corvette 13% Small SUV Jeep Patriot 12% Luxury Car Lincoln MKZ 11% Subcompact Car Toyota Yaris 11% Van Ford Transit Connect 10% July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 2
  4. 4. Greatest Discounts (continued...) Makes with Greatest Discounts on 2010 Vehicles 15% Chevrolet Ford 13% Mercury GMC Chrysler % BELOW MSRP 11% 9% 7% 5% February March April May June Top Discounts: 2010 Makes Top Discounts: 2011 Makes Rank Make % Below MSRP Rank Make % Below MSRP 1 Chevrolet 15% 1 Toyota 9% 2 Ford 14% 2 Honda 8% 3 Mercury 13% 3 BMW 7% 4 GMC 13% 4 Kia 7% 5 Chrysler 11% 5 Volvo 6% Top Discounts: 2010 Models Top Discounts: 2011 Models Rank Make / Model % Below MSRP Rank Make / Model % Below MSRP 1 Chevrolet Silverado 1500 22% 1 Toyota Camry 10% 2 Jeep Grand Cherokee 20% 2 Honda Pilot 8% 3 Chevrolet Avalanche 18% 3 Volvo C70 8% 4 Hyundai Sonata 18% 4 BMW 1 Series 8% 5 Ford Ranger 17% 5 Kia Sorento 7% Top discounts for 2010 Models are based on the top discounts for each brand. July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 3
  5. 5. Best Day of the Month to Buy a Car 13% July 28th, 2010 PROJECTED AVERAGE DISCOUNT 12% 11% 10% 9% July 19th, 2010 8% 7% 7/16/10 7/20/10 7/24/10 7/28/10 8/01/10 8/05/10 8/09/10 8/13/10 Best Day to Buy a Vehicle Consumer Tip of the Month July 28th, 2010 Average Discount: 12.47% 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 Worst Day to Buy a Vehicle days suggest that the best day to buy a car is actually July 19th, 2010 Average Discount: 8.14% Wednesday, July 28th. The worst day to buy a car will likely be on Monday, July 19th. Largest Total Incentives for June Models with Largest Total Incentives Rank Make / Model Customer Cash Rebate Dealer Cash 1 BMW M6 $0 $12,500 2 Infiniti QX56 $0 $7,000 3 Chevrolet Impala $0 $5,000 4 Volvo XC70 $5,000 $0 5 Cadillac Escalade ESV $5,000 $0 This table shows the highest incentive for each brand ranked. 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. July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 4
  6. 6. Greatest Price Drop Month Over Month Top Vehicles ( by Vehicle Category ) Vehicle Category Year / Make / Model $ Drop From Last Month Luxury Car 2011 BMW 7 Series ($1,124) Luxury SUV 2010 Volvo XC60 ($546) Sport Car 2010 MINI Cooper Convertible ($356) Midsize SUV 2010 Jeep Grand Cherokee ($314) Large Truck 2010 Ford F-150 ($271) Midsize Car 2010 Volkswagen Passat Sedan ($247) Minivan 2010 Mazda MAZDA5 ($222) Small Car 2010 Honda Civic Hybrid ($220) Large Car 2010 Ford Flex ($205) Subcompact Car 2010 Volkswagen New Beetle Convertible ($200) Large SUV 2010 Mazda CX-9 ($132) Small SUV 2010 GMC Terrain ($89) Luxury Sport Car 2010 Infiniti G37 Sedan ($73) Top Vehicles (overall) Rank Year / Make / Model $ Drop From Last Month 1 2011 BMW 7 Series ($1,124) 2 2010 Volvo XC70 ($763) 3 2010 Lexus LS 460 ($603) 4 2010 MINI Cooper Convertible ($356) 5 2011 Infiniti M37 ($352) 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 for unique makes with the overall greatest drop in price fromJune 11th, 2010 to July 8th, 2010. July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 5
  7. 7. June’s Shortest and Longest Days in Inventory Industry Wide Average Days in Inventory for June: 50 Days Shortest to Longest ( by Vehicle Category ) Shortest and Longest Days in Inventory Average Rank Vehicle Category Days in Inventory TrueCar ranks the vehicles that spend, on 1 Luxury SUV 31 average, the shortest and longest days on the 2 Midsize SUV 34 lot before they sell. We rank by both overall 3 Large SUV 37 shortest / longest days in inventory and by category. Vehicles that spend little time in 4 Small SUV 39 inventory are in high demand, while vehicles that 5 Minivan 39 spend an extended time in inventory are in low 6 Midsize Car 45 demand. 7 Luxury Car 49 8 Large Truck 59 9 Small Truck 60 10 Large Car 60 11 Small Car 62 12 Luxury Sport Car 71 13 Sport Car 72 14 Subcompact Car 79 15 Van 137 2010 Vehicles: Shortest Days in Inventory 2010 Vehicles: Longest Days in Inventory Rank Make / Model Days in Inventory Rank Make / Model Days in Inventory 1 Lexus LX 570 12 1 Mitsubishi Lancer Sportback 181 2 GMC Terrain 14 2 Hyundai Sonata 172 3 Chevrolet Equinox 14 3 BMW 535i 164 4 Toyota Highlander 15 4 Toyota Camry 159 5 Audi Q7 15 5 Ford Mustang 150 6 Toyota RAV4 16 6 Mitsubishi Galant 146 7 Lincoln Navigator L 17 7 BMW 528i 144 8 Land Rover LR4 17 8 BMW 128i 139 9 Hyundai Tucson 17 9 Ford F-350 138 10 Audi S4 18 10 Ford F-250 136 July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 6
  8. 8. June’s Shortest and Longest Days in Inventory (continued...) 2011 Vehicles: Shortest Days in Inventory 2011 Vehicles: Longest Days in Inventory Rank Make / Model Days in Inventory Rank Make / Model Days in Inventory 1 Porsche 911 5 1 Toyota Camry Hybrid 49 2 Ford Fiesta 6 2 Toyota Camry 44 3 Jaguar XJ 6 3 Mercedes-Benz SL550 42 4 Chevrolet Camaro 6 4 Volvo C30 42 5 Porsche Cayenne 7 5 Kia Sorento 33 6 Porsche Panamera 7 6 Infiniti M37 28 7 Jaguar XJL 8 7 Toyota Sienna 26 8 Subaru Legacy 8 8 Scion xB 21 9 Chevrolet Traverse 9 9 BMW 328 xDrive 20 Model Year Share Percent Industry Share of Model Year Vehicles 2009 Model Year Share shows the percentage share of 1% 2010 model year vehicles sold within the last month 2010 versus vehicles of any other model year sold. 87.4% Generally, the higher the model year share value, the 2011 higher the discount a consumer can expect to receive 87.4% 11.6% on that given model. It also reflects that dealers are 2010 VEHICLES more likely to cut deals on a 2010 model in order to make room for a 2011. At this time of year, many brand’s model year mix are predominantly comprised of 2010’s. The makes with the highest percentage of 2010 model year share are Lexus, Land Rover, and Mazda. Between 2009, 2010, and 2011 vehicles, 2010 shares 87.4% of total sales. Lowest Percentage of 2010 Vehicles Sold Highest Percentage of 2011 Vehicles Sold Rank Make % of Sales Rank Make % of Sales 1 BMW 32.6% 1 BMW 66.6% 2 Jaguar 40.8% 2 Jaguar 58.2% 3 smart 45.5% 3 Porsche 34.8% 4 Porsche 62.3% 4 Hyundai 33.7% 5 Kia 62.6% 5 Scion 29.4% July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 7
  9. 9. Appendix About Us TrueCar is the authority in new-car pricing. We show car marketplace pricing, helping them price cars for increased buyers and car dealers how much people actually paid for a sales, and ultimately gaining market share over other particular car in a specific local area. With TrueCar pricing, dealers. Our innovative new car pricing service is offered both new car buyers and new car dealers can know at any free of charge on our website at www.truecar.com, on our time what is considered a good or great price on a new car. mobile site at mobile.truecar.com, and via syndication of our Consumers no longer need to walk into a dealership tools and pricing data to leading automotive research sites partially informed and fully suspicious – using TrueCar they throughout the web. walk in knowing the price of a fair deal. Dealers benefit by TrueCar’s real-time, unbiased information about Disclaimer This report and the information contained herein is for your include technical inaccuracies or typographical errors. noncommercial, personal use on an “as-is, as available” Neither TrueCar nor any of its parents, subsidiaries, basis and may be used by you for informational purposes affiliates, or their respective partners, officers, directors, only. TrueCar makes no representations or warranties, employees, or agents shall be held liable for any damages, express or implied, with respect to the information whether direct, incidental, indirect, special, or consequential, contained in this report and the results of the use of such including without limitation lost revenues or lost profits, information, including but not limited to implied warranty of arising from or in connection with your use or reliance on the merchantability, fitness for a particular purpose, and non- information presented in this report. infringement. The information contained in this report may Contact Us TrueCar Inc. 225 Santa Monica Blvd, 6th Floor Santa Monica, CA 90401 (800) 200-2000 info@truecar.com Visit us at www.truecar.com July 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 8

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