True Trends By True Car March 2010 Final V2
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  • 1. by Automotive intelligence covering new car prices, best car deals and more. March 15th, 2010 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 February 2010, this represents We also acquire vehicle configuration data, customer and more than 300,000 vehicles sold nationally in February and dealer incentives data, financing and loan data, vehicle over 600,000 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 2010 Models Most Flexible 2010 Models Score Make Model Score Make Model 1 Mercury Grand Marquis 99 Mazda Tribute 1 Chevrolet Express Passenger 99 Mazda RX-8 1 Lincoln Town Car 99 Lexus HS 250h 2 Dodge Charger 98 Chevrolet Express Cargo 2 Chrysler 300 98 Mazda MX-5 Miata 2 Acura MDX 98 Lexus GS 450h 3 Volkswagen Tiguan 97 Chevrolet Corvette 3 Infiniti QX56 97 Dodge Ram 1500 4 Audi A4 97 Toyota Avalon 4 Chrysler Town & Country 96 Toyota Corolla Least and Most Flexible 2010 Vehicles ( by Body Type ) Body Type Least Flexible Model Most Flexible Model Convertible VW New Beetle Convertible (Score: 14) Mazda MX-5 Miata (Score: 98) Coupe VW New Beetle Couple (Score: 15) Mazda RX-8 (Score: 99) Pickup Toyota 4WD Truck (Score: 21) Dodge Ram 1500 (Score: 97) Sedan Mercury Grand Marquis (Score: 1) Lexus HS 250h (Score: 99) Sport Utility Acura MDX (Score: 2) Mazda Tribute (Score: 99) Van Chevrolet Express Passenger (Score: 1) Chevrolet Express Cargo Van (Score: 98) Wagon Audi A4 (Score: 4) Cadillac CTS Wagon (Score: 84) What is the TrueCar Price Flex Score? 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 22010 tion dynamically incorporates the factors that effect 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. March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 1
  • 3. Greatest Discounts Makes with Greatest Discounts on 2010 Vehicles 15% Ford Chrysler 13% Hyundai Mercury Jeep % BELOW MSRP 11% 9% How Do I Use This? The greatest percent below MSRP helps 7% 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 November December January February off the make or model’s average MSRP. Top Discounts: 2009 Makes Top Discounts: 2010 Makes Rank Make % Below MSRP Rank Make % Below MSRP 1 HUMMER 21% 1 Ford 13% 2 Chevrolet 17% 2 Hyundai 12% 3 Mazda 17% 3 Chrysler 11% 4 Kia 17% 4 Mercury 10% 5 Buick 17% 5 Jeep 10% Top Discounts: 2009 Models Top Discounts: 2010 Models Rank Make / Model % Below MSRP Rank Make / Model % Below MSRP 1 Nissan Titan 27% 1 Hyundai Sonata 18% 2 Chevrolet Cobalt 25% 2 Jeep Grand Cherokee 18% 3 HUMMER H3 21% 3 Ford Ranger 17% 4 Kia Optima 20% 4 Jeep Commander 17% 5 Mazda MX-5 Miata 20% 5 Chevrolet Cobalt 16% March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 2
  • 4. Greatest Discounts (continued...) Top Discounts: 2009 Models ( by Body Type ) Top Discounts: 2010 Models ( by Body Type ) % Below % Below Body Type Model MSRP Body Type Model MSRP Pickup Nissan Titan 27% Sport Utility Jeep Grand Cherokee 18% Sport Utility HUMMER H3 21% Sedan Hyundai Sonata 18% Sedan Kia Optima 20% Pickup Ford Ranger 17% Convertible Mazda MX-5 Miata 20% Coupe Chevrolet Cobalt 16% Coupe Chevrolet Corvette 17% Van Toyota Sienna 12% Van Chevrolet Express Cargo Van 17% Wagon Volvo XC70 11% Wagon Suzuki SX4 7% Convertible Volvo C70 11% Best Day of the Month to Buy a Car 7.0% Apr 12, 2010 PROJECTED AVERAGE DISCOUNT 6.5% 6.0% Apr 4, 2010 5.5% 5.0% 4.5% 3/17/10 3/21/10 3/25/10 3/29/10 4/02/10 4/06/10 4/10/10 4/14/10 Best Day to Buy a Vehicle Consumer Tip of the Month April 12th, 2010 Average Discount: 6.67% 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 April Easter Sunday, April 4th, 2010 Average Discount: 5.51% 12th, the Monday before taxes are due. The worst day to buy a car will likely be on Easter Sunday, April 4th. March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 3
  • 5. Greatest Price Drop Month Over Month Greatest Price Drop: Top Vehicles ( by Body Type ) Body Type Year / Make / Model / Trim $ Drop From Last Month Sport Utility 2010 BMW X5 AWD 4dr 35d -$836 Minivan 2010 Volkswagen Routan 4dr Wagon SE -$599 Sedan 2010 Toyota Camry 4dr Sedan I4 Manual -$558 Convertible 2010 Audi A5 2dr Cabriolet 2.0L Quattro Premium Plus -$501 Coupe 2010 Ford Mustang 2dr Coupe GT -$399 Wagon 2010 Subaru Outback 4dr Wagon H4 Auto 2.5i Ltd -$294 Pickup 2010 Toyota Tacoma 2WD Reg I4 MT -$153 Greatest Price Drop: Top Vehicles (overall) Rank Year / Make / Model / Trim $ Drop From Last Month 1 2010 BMW X5 AWD 4dr 35d -$836 2 2010 Volkswagen Routan 4dr Wagon SE -$599 3 2010 Honda Odyssey 5dr EX -$575 4 2010 Lexus GX 460 4WD 4dr Premium -$566 5 2010 Toyota Camry 4dr Sedan I4 Manual -$558 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 February 8th, 2010 to March 7th, 2010. Largest Total Incentives for March 2010 Models with Largest Total Incentives Rank Make / Model $ Incentives MSRP % of MSRP 1 2010 Chevrolet Cobalt $3,000 $15,710 19% 2 2010 Volvo XC70 $6,000 $38,800 15% 3 2010 Nissan Titan $4,000 $27,120 15% 4 2010 Chevrolet Malibu $3,000 $22,545 13% 5 2010 BMW 6 Series $10,000 $79,325 12% 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 the TrueTrends report is released. Though active at the time of the report’s release, incentives are subject to change without notice. Check for updates on the TrueCar price report for each model and with your dealer. March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 4
  • 6. February’s Shortest and Longest Days in Inventory Industry Wide Average Days to Turn for February: 53 Days Shortest to Longest ( by Body Type ) Shortest and Longest Days in Inventory Rank Make / Model Days in Inventory TrueCar ranks the vehicles that spend, on average, the shortest and longest days on the 1 Sport Utility 35 lot before they sell. We rank by both overall 2 Coupe 60 shortest / longest days in inventory and by 3 Sedan 62 category. Vehicles that spend little time in 63 4 Pickup inventory are in high demand, while vehicles that 5 Van 63 spend an extended time in inventory are in low 6 Hatchback 63 demand. 7 Convertible 102 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 Kia Borrego 75 1 Chevrolet Impala 338 2 Infiniti G37 93 2 Chevrolet Cobalt 312 3 Hyundai Santa Fe 111 3 Honda Accord 284 4 Toyota Venza 112 4 Volkswagen Routan 283 5 Kia Rio 113 5 Chevrolet Aveo 5 272 6 Nissan Cube 118 6 Honda Civic 268 7 Chevy Silverado 2500 HD 131 7 Volkswagen Jetta 266 8 Chevy Silverado 1500 134 8 Dodge Caliber 239 9 GMC Sierra 1500 134 9 Hyundai Accent 238 10 Kia Rondo 134 10 Ford F-250 236 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 Mercedes-Benz GL550 10 1 Hyundai Sonata 108 2 BMW 335D 10 2 Kia Forte 94 3 Chevrolet Equinox 11 3 Ford Mustang 93 4 BMW X6 11 4 Chevrolet Malibu 89 5 GMC Terrain 12 5 Dodge Grand Caravan 89 6 Lexus GX 460 12 6 Dodge Avenger 84 7 Lexus LX 570 13 7 Ford Focus 82 8 Acura MDX 13 8 Chevrolet Traverse 81 9 Toyota 4Runner 14 9 BMW 535I 81 10 Chevrolet Suburban K1500 14 10 Ford Transit Connect 80 March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 5
  • 7. Model Year Share Percent Industry Share of Model Year Vehicles 6% Model Year Share shows the percentage share of 2009 Vehicles 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 94% 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. At this time of the year, consumers should look for makes with a 2009 model year share of 25% or greater. Among ’09 and ‘10 model sales, ’10 represents a 94% market share. Lowest Percentage of 2009 Vehicles Sold Highest Percentage of 2009 Vehicles Sold Rank Make % of Sales Rank Make % of Sales 1 Subaru 0.3% 1 smart 98% 2 Lexus 0.7% 2 Pontiac 90% 3 Buick 1.2% 3 Saturn 89% 4 Acura 1.3% 4 Saab 80% 5 Toyota 1.3% 5 Suzuki 46% 6 Scion 1.4% 6 HUMMER 45% 7 Mazda 1.6% 7 Infiniti 32% 8 Ford 2.0% 8 Kia 30% 9 Jeep 2.1% 9 Hyundai 16% 10 Volvo 2.2% 10 GMC 14% March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 6
  • 8. Appendix About Us TrueCar (www.truecar.com) is the authority in new-car marketplace pricing, helping them know how to price their pricing. We aggregate 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 March 15th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 7