TrueTrends By TrueCar January 2010

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Highlights from this month’s report include: …

Highlights from this month’s report include:

• 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 25th and February 8th) 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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  • 1. by Automotive intelligence covering new car prices, best car deals and more. January15th, 2009 The Truth Will Prevail During the last month, TrueCar acquired actual sales We obtain our data directly from car dealers, respected transaction data for more than 43% of all new vehicles sold dealer management system (DMS) providers, and within the United States. We continue to work to grow this well-known data aggregators within the automotive space. number aggressively. As of December 2009, this We also acquire vehicle configuration data, customer and represents more than 442,000 vehicles sold nationally and dealer incentives data, financing and loan data, vehicle 4.8 million year-to-date. registration an insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100% TrueCar believes the greater our informational accuracy, the of all purchase transactions, even if that means finding the greater benefit we provide to both dealers and consumers. same transaction multiple times from multiple sources within the car-buying ecosystem.
  • 2. TrueCar Price Flex Score Least Flexible 2009 Models Most Flexible 2009 Models Score Make Model Score Make Model 12 Chevrolet Tahoe 97 HUMMER H3 14 GMC Yukon 97 Mazda MX-5 Miata 15 Cadillac Escalade 91 Dodge Viper 19 Infiniti G-Series 90 Volkswagen New Beetle 22 Honda CR-V 89 Volkswagen Eos 30 BMW 7-Series 85 Mitsubishi Eclipse 32 Pontiac Torrent 84 Chevrolet Aveo 32 Honda Fit 84 Volkswagen Routan 34 BMW X5-Series 79 Cadillac XLR 34 BMW 1-Series 77 Honda S2000 Least Flexible 2010 Models Most Flexible 2010 Models Score Make Model Score Make Model 10 Buick Enclave 93 Chrysler PT Cruiser 14 GMC Yukon 90 Mazda MX-5 Miata 15 Lincoln Navigator 88 Mazda 6 16 Cadillac Escalade 86 HUMMER H3 16 Chevrolet Tahoe 85 Hyundai Accent 18 Toyota Sequoia 85 Toyota Yaris 19 Audi Q7 84 Mazda 5 21 GMC Acadia 83 Hyundai Elantra 22 Honda CR-V 83 Mitsubishi Lancer 22 Audi A6 81 Dodge Nitro What is the TrueCar Price Flex Score? The TrueCar Price Score measures the elasticity of trans- a deal significantly below (or above, if you’re not careful!) the action price by model. The Price Flex Score calculation TrueCar average transaction price. Here are the 2009 and dynamically incorporates the factors that effect price 2010 models with the highest and the lowest Price Flex variance including the model’s transaction price range, Scores. We also show the models with the highest and current inventory and sales data. A vehicle experiencing lowest Price Flex Score within each vehicle category. The extremely low inventory and a small range of transaction scores range from 1 to 100. A score of 1 corresponds to the prices will have a low Price Flex Score. Don’t expect much lowest Price Flex Score and indicates a very small -if any- of a discount from the TrueCar average transaction price on negotiation power. A score of 100 indicates the highest a vehicle with a low Price Flex Score. If a vehicle has a high Price Flex Score, meaning there is a big range of transaction Price Flex Score, however, you have the potential to strike prices for that model. January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 1
  • 3. TrueCar Price Flex Score (continued...) Least and Most Flexible 2009 Vehicles ( by Body Type ) Body Type Least Flexible Model Most Flexible Model Convertible BMW 1-Series (Score: 34) Mazda MX-5 Miata (Score: 97) Coupe Smart ForTwo (Score: 40) Pontiac G6 (Score: 62) Pickup Chevrolet Avalanche (Score: 37) Honda Ridgeline (Score: 71) Sedan Infiniti G-Series (Score: 19) Chevrolet Aveo (Score: 84) Sport Utility Chevrolet Tahoe (Score: 12) Hummer H3 (Score: 97) Van Kia Sedona (Score: 42) Volkswagen Routan (Score: 84) Least and Most Flexible 2010 Vehicles ( by Body Type ) Body Type Least Flexible Model Most Flexible Model Convertible BMW 1 - Series (Score: 31) Mazda MX-5 Miata (Score: 90) Coupe Audi A5 (Score: 27) Honda Civic (Score: 78) Pickup Chevrolet Colorado (Score: 29) Nissan Titan (Score: 78) Sedan Audi A6 (Score: 22) Mazda 6 (Score: 88) Sport Utility Buick Enclave (Score: 10) Chrysler PT Cruiser (Score: 93) Van Honda Odyssey (Score: 31) Mazda 5 (Score: 84) Largest Total Incentives for January Top Models Rank Make / Model $ Incentives MSRP % Discount From MSRP 1 2009 Dodge Ram 1500 $6,000 $22,420 27% 2 2009 Pontiac G3 $4,000 $15,055 27% 3 2009 Pontiac Vibe $4,000 $16,735 24% 4 2010 Toyota Tundra 2WD Truck $5,500 $24,105 23% 5 2009 Pontiac G5 $4,000 $17,700 23% 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. January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 2
  • 4. Greatest Discounts Top 2009 Makes 30% Hummer Dodge 25% Saturn Hyundai Kia % BELOW MSRP 20% 15% How Do I Use This? The greatest percent below MSRP helps 10% identify the biggest consumer discounts of the month. Below, TrueCar ranks 2009 and 2010 vehicles with average transaction 5% prices that comprise the greatest percent September October November December off the make or model’s average MSRP. Top 2009 Makes Top 2010 Makes Rank Make % Below MSRP Rank Make % Below MSRP 1 HUMMER 28% 1 Ford 12% 2 Dodge 24% 2 Chrysler 11% 3 Saturn 20% 3 Lincoln 10% 4 Hyundai 16% 4 Jeep 10% 5 Kia 16% 5 Volvo 9% Top 2009 Models Top 2010 Models Rank Make / Model % Below MSRP Rank Make / Model % Below MSRP 1 2009 Dodge Ram 1500 27% 1 Ford Ranger 17% 2 2009 Kia Sorento 23% 2 Jeep Grand Cherokee 16% 3 2009 Chevrolet Cobalt 20% 3 Toyota Tundra 2WD Truck 13% 4 2009 Chevy Silverado 1500 17% 4 Ford Edge 13% 5 2009 Chevrolet Corvette 17% 5 Ford Focus 12% January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 3
  • 5. Greatest Discounts (continued...) Top 2009 Models ( by Body Type ) Top 2010 Models ( by Body Type ) % Below % Below Body Type Model MSRP Body Type Model MSRP Pickup Dodge Ram 1500 27% Sport Utility Jeep Grand Cherokee 17% Sport Utility Kia Sorento 23% Pickup Ford Ranger 17% Coupe Chevrolet Cobalt 20% Sedan Ford Edge 13% Sedan Chevrolet Impala 16% Convertible Volvo C70 12% Van Kia Sedona 11% Wagon Volvo XC70 12% Convertible Mercedes-Benz CLK-Class 9% Van Chrysler Town & Country 11% Wagon Nissan Cube 5% Coupe Toyota Yaris 10% Best Day of the Month to Buy a Car 7.0% Feb 1, 2010 PROJECTED AVERAGE DISCOUNT 6.5% 6.0% Feb 9, 2010 5.5% 5.0% 4.5% 1/17/10 1/21/10 1/25/10 1/29/10 2/02/10 2/06/10 2/10/10 2/14/10 Best Day to Buy a Vehicle Consumer Tip of the Month February 1st, 2010 Average Discount: 6.62% 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 will be on February 9th, 2010 Average Discount: 5.42% February 1st, in time for Valentine’s Day. The worst day to buy a car will likely be on February 9th. January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 4
  • 6. Greatest Price Drop Month Over Month Top Vehicles ( by Body Type ) Body Type Year / Make / Model / Trim $ Drop From Last Month Sport Utility 2010 Volvo XC60 AWD 4dr 3.2L w/Moonroof -$561 Pickup 2010 Ford F-150 4WD SuperCrew 145" XL -$1,404 Sedan 2009 Pontiac G6 4dr Sedan w/1SV -$1,376 Coupe 2010 Dodge Challenger 2dr Coupe R/T Classic -$288 Convertible 2010 Lexus IS 250C 2dr Conv Man -$122 Mini-van 2010 Toyota Sienna 5dr 7-Pass Van XLE FWD -$215 Wagon 2010 Volkswagen Jetta SportWagen 4dr DSG TDI -$273 Top Vehicles (overall) Rank Year / Make / Model / Trim $ Drop From Last Month 1 2010 Ford F-150 4WD SuperCrew 145" XL -$1,404 2 2009 Pontiac G6 4dr Sedan w/1SV -$1,376 3 2009 Infiniti G37 Sedan 4dr x AWD -$605 4 2010 Mercedes-Benz E-Class 4dr Sedan Luxury 3.5L 4MATIC AWD -$564 5 2010 Volvo XC60 AWD 4dr 3.2L w/Moonroof -$561 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. January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 5
  • 7. December’s Shortest and Longest Days in Inventory Industry Wide Average Days to Turn Shortest to Longest ( by Body Type ) for December: 49 Days Rank Make / Model Days in Inventory 1 Wagon 25 Shortest and Longest Days in Inventory 2 Sport Utility 27 TrueCar ranks the vehicles that spend, on 3 Coupe 29 average, the shortest and longest days on the 4 Hatchback 32 lot before they sell. We rank both by overall shortest/longest days in inventory as well as by 5 Pickup 32 category. Vehicles that spend little time in 6 Convertible 33 inventory are in high demand, while vehicles that 7 Van 35 spend an extended time in inventory are in low 8 Pickup 36 demand. 9 Sedan 36 2009 Vehicles: Shortest Days in Inventory 2009 Vehicles: Longest Days in Inventory Rank Make / Model Days in Inventory Rank Make / Model Days in Inventory 1 Acura MDX 27 1 Saab 9-3 358 2 Infiniti G37 47 2 Acura TL 264 3 Toyota Venza 49 3 Volkswagen CC 238 4 GMC Yukon XL Denali 50 4 Chevrolet Corvette 238 5 Chevy Suburban K1500 52 5 Chevrolet Impala 237 6 Nissan Cube 63 6 Chevrolet Aveo 5 237 7 Hyundai Santa Fe 64 7 Chrysler 300 233 8 Chevrolet Tahoe 64 8 Chevrolet Cobalt 231 9 Chevy Silverado 2500 HD 67 9 Chevrolet HHR 229 10 Kia Borrego 69 10 Saturn Aura 229 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 GX 460 5 1 Kia Forte 72 2 Hyundai Tucson 6 2 Hyundai Sonata 71 3 Acura MDX 7 3 Chevrolet Malibu 71 4 Toyota Venza 9 4 Honda Insight 66 5 Nissan Cube 10 5 Ford Mustang 65 6 Chevy Suburban K1500 10 6 Jaguar XF 65 7 Toyota 4Runner 11 7 Volvo C70 64 8 Lexus LS 460 L 11 8 Mazda 3 60 9 Mercedes-Benz GL550 11 9 Lincoln MKZ 59 10 BMW X3 11 10 Dodge Grand Caravan 58 January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 6
  • 8. Model Year Share Percent Industry Share of Model Year Vehicles Model Year Share shows the percentage share of 24% 2009 model year vehicles sold within the last month 2009 Vehicles versus vehicles of any other model year sold. Gen- erally, the higher the model year share value, the 76% higher the discount a consumer can expect to receive 2010 Vehicles 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. Between 2009 and 2010 vehicles, 2010 shares 76% of total sales. Lowest Percentage of 2009 Vehicles Sold Highest Percentage of 2009 Vehicles Sold Rank Make / Model % of Sales Rank Make / Model % of Sales 1 Toyota Corolla 0.09% 1 Volkswagen Rabbit 99.6% 2 Ford Fusion 0.09% 2 Volvo S60 97.8% 3 Toyota Sienna 0.12% 3 Chevrolet Aveo 97.2% 4 Toyota Prius 0.12% 4 Mazda MX-5 Miata 96.5% 5 Mercedes-Benz E-Class 0.28% 5 GMC Sierra 2500HD 96.1% 6 Mazda 3 0.34% 6 Kia Sportage 96.0% 7 Chevrolet Equinox 0.36% 7 Chevrolet Silverado 2500HD 94.4% 8 BMW 5 Series 0.47% 8 Cadillac DTS 93.7% 9 Honda Pilot 0.60% 9 GMC Yukon XL 93.2% 10 Toyota Matrix 0.63% 10 GMC Sierra 1500 92.9% January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 7
  • 9. Appendix About Us TrueCar (www.truecar.com) is the authority in new-car marketplace pricing, helping them know how to price their pricing. It aggregates multiple data sources to show car cars to sell more and gain market share from other dealers. buyers and dealers how much people actually paid for a Led by a highly experienced team from the automotive and particular car in their geographic area. It is offered online, technology industries, TrueCar is based in Santa Monica, free of charge - so anyone can know at any time what is California. 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 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 January 15th, 2010 - TrueTrends™ by TrueCar™ - © 2009 TrueCar, Inc. 8