TrueTrends By TrueCar February 2010
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TrueTrends By TrueCar February 2010

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TrueTrends TM by TrueCar is based on the idea that price goes far beyond averages. To see the full picture, you need to know the context, which TrueCar offers by presenting the price car buyers ...

TrueTrends TM by TrueCar is based on the idea that price goes far beyond averages. To see the full picture, you need to know the context, which TrueCar offers by presenting the price car buyers actually pay for new cars. The report is based on data for more than 40% of all individual US retail transactions per month from dozens of proprietary and third party sources. The report includes TrueCar’s unique Price Flex Score, identifying new cars with the most negotiating room, as well as best deals by Total Incentives, Greatest Percentage below MSRP, Greatest Price Drops, Days in Inventory and more.

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TrueTrends By TrueCar February 2010 TrueTrends By TrueCar February 2010 Document Transcript

  • by Automotive intelligence covering new car prices, best car deals and more February 16th, 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 January 2010, this represents We also acquire vehicle configuration data, customer and more than 300,000 vehicles sold nationally. dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data and our goal to find 100% of all purchase transactions, even if that means finding the TrueCar believes the greater our informational accuracy, the same transaction multiple times from multiple sources greater benefit we provide to both dealers and consumers. within the car-buying ecosystem.
  • Toyota Recall Changes the Auto Industry Corolla Competitive Set Camry Competitive Set Before and After the Recall * Before and After the Recall * Change in Price/Cost Change in Price/Cost Model Web Traffic Change Model Web Traffic Change Ford Focus + 14.29% -0.32% Ford Fusion + 26.39% - 1.80% Hyundai Elantra + 25.65% -0.43% Hyundai Sonata + 26.81% - 1.78% Chevrolet Cobalt + 5.90% -1.94% Chevrolet Malibu - 7.53% + 0.37% Honda Civic + 13.29% +0.51% Honda Accord + 11.17% + 0.45% Nissan Sentra - 11.06% +0.20% Nissan Altima + 11.88% - 0.80% Kia Forte + 33.33% -1.92% Kia Optima - 24.70% - 2.47% Toyota Corolla - 44.53% ---- Toyota Camry - 35.34% ---- Customers Migrating out of Toyota are Conquested by Competitors 15% Ford Hyundai Kia 25% FORD 25% 5% 20% 5% Other Honda Nissan 25% 10% 15% 10% 25% HONDA 20% ”Before recall” refers to the time period prior to the Toyota recall – January 1, 2010 to January 20, 2010. “After recall” refers to the time period following the Toyota recall – January 21, 2010 to February 3, 2010. Percentage Change in Web Traffic on TrueCar.com 30% 20% HYUNDAI KIA FORD PERCENTAGE CHANGE 10% HONDA NISSAN 0% CHEVROLET -10% -20% -30% TOYOTA - 40% Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 1
  • TrueCar Price Flex Score Least Flexible 2009 Models Most Flexible 2009 Models Score Make Model Score Make Model 3 Chrysler Aspen 100 Honda Ridgeline 3 Smart ForTwo 94 Mazda MX-5 Miata 23 Audi A3 89 Honda Civic 23 Volvo XC60 89 Jeep Grand Cherokee 23 Volvo XC90 87 Mitsubishi Eclipse 25 BMW 1-Series 84 Mercedes-Benz C-Class 25 Volvo XC70 80 Hyundai Elantra 27 Cadillac XLR 78 Volkswagen Eos 29 Audi A8 76 Volkswagen Routan 32 Buick Lucerne 74 Dodge Nitro Least Flexible 2010 Models Most Flexible 2010 Models Score Make Model Score Make Model 3 Audi Q5 100 Chrysler PT Cruiser 8 Audi Q7 91 Honda Ridgeline 11 Lincoln Navigator 89 Nissan Titan 13 Acura ZDX 88 Mazda MX-5 Miata 14 Hummer H2 87 Mitsubishi Eclipse 15 GMC Canyon 84 Honda Civic 16 Audi A5 79 Porsche Cayenne 18 Chevrolet Colorado 77 Nissan Versa 20 BMW 1-Series 77 Mercedes-Benz SLK-Class 20 Chevrolet Traverse 74 Jaguar XF 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. Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 2
  • 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: 25) Mazda MX-5 Miata (Score: 94) Coupe Smart ForTwo (Score: 3) Honda Civic (Score: 89) Pickup GMC Sierra (Score: 45) Honda Ridgeline (Score: 100) Sedan Audi A3 (Score: 23) Mercedes-Benz C Class (Score: 84) Sport Utility Chrysler Aspen (Score: 3) Jeep Grand Cherokee (Score: 89) Van Chevrolet Express Cargo (Score: 48) Volkswagen Routan (Score: 76) Least and Most Flexible 2010 Vehicles ( by Body Type ) Body Type Least Flexible Model Most Flexible Model Convertible BMW 1 - Series (Score: 20) Mazda MX-5 Miata (Score: 88) Coupe Audi A5 (Score: 16) Honda Civic (Score: 84) Pickup GMC Canyon (Score: 15) Honda Ridgeline (Score: 91) Sedan Audi A3 (Score: 20) Mitsubishi Lancer (Score: 84) Sport Utility Audi Q5 (Score: 3) Chrysler PT Cruiser (Score: 100) Van Ford Econoline (Score: 44) Mazda 5 (Score: 75) Largest Total 2010 Incentives for February Top Models Rank Make / Model $ Incentives MSRP % Discount From MSRP 1 2010 Toyota Tundra 2WD Truck $5,500 $24,405 23% 2 2010 Hyundai Sonata $3,500 $19,420 18% 3 2010 Pontiac Vibe $3,000 $16,820 18% 4 2010 Mitsubishi Galant $4,000 $22,344 18% 5 2010 Chrysler PT Cruiser Classic $3,000 $18,995 16% 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 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. Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 3
  • Greatest Discounts Top 2009 Makes 31% Hummer Buick 26% Chevrolet Dodge Saab % BELOW MSRP 21% How Do I Use This? 16% The greatest percent below MSRP helps identify the biggest consumer discounts of the month. Below, TrueCar ranks 2009 and 11% 2010 vehicles with average transaction prices that comprise the greatest percent 6% off the make’s or model’s average MSRP. SEPTEMBER OCTOBER NOVEMBER DECEMBER Top 2009 Makes Top 2010 Makes Rank Make % Below MSRP Rank Make % Below MSRP 1 HUMMER 19% 1 Ford 13% 2 Buick 17% 2 Chrysler 12% 3 Chevrolet 17% 3 Hyundai 11% 4 Dodge 16% 4 Jeep 10% 5 Saab 15% 5 Lincoln 10% Top 2009 Models Top 2010 Models Rank Make / Model % Below MSRP Rank Make / Model % Below MSRP 1 2009 Nissan Titan 26% 1 Ford Ranger 17% 2 2009 Chevrolet Cobalt 22% 2 2010 Hyundai Sonata 17% 3 2009 Kia Sorento 20% 3 2010 Jeep Grand Cherokee 17% 4 2009 Dodge Ram 1500 19% 4 2010 Jeep Commander 16% 5 2009 HUMMER H3 19% 5 2010 Chevrolet Cobalt 16% Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 4
  • 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 Nissan Titan 26% Pickup Ford Ranger 17% Coupe Chevrolet Cobalt 22% Sedan Hyundai Sonata 17% Sport Utility Kia Sorento 20% Sport Utility Jeep Grand Cherokee 17% Convertible Chevrolet Corvette 19% Coupe Chevrolet Cobalt 16% Sedan Kia Optima 19% Wagon Volvo XC70 15% Van Chevy Express Cargo Van 15% Convertible Volvo C70 14% Wagon Nissan Cube 6% Van Toyota Sienna 11% Best Day of the Month to Buy a Car 7.0% Feb 27, 2010 PROJECTED AVERAGE DISCOUNT 6.5% 6.0% Mar 12, 2010 5.5% 5.0% 4.5% 2/17/10 2/21/10 2/25/10 3/01/10 3/05/10 3/09/10 3/13/10 3/1710 Best Day to Buy a Vehicle Consumer Tip of the Month February 27th, 2010 Average Discount: 6.52% 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 March 12th, 2010 Average Discount: 5.45% February 27th, and the worst day to buy a car will be on March 12th. Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 5
  • Greatest Price Drop Month Over Month Top Vehicles ( by Body Type ) Body Type Year / Make / Model / Trim $ Drop From Last Month Coupe 2010 Ford Mustang 2dr Coupe GT Premium -$910 Pickup 2010 Ford F-150 4WD SuperCrew 145" XLT -$850 Sport Utility 2010 Volvo XC60 AWD 4dr 3.2L w/Moonroof -$607 Sedan 2010 Honda Accord Sedan 4dr I4 Auto LX -$412 Convertible 2010 Lexus IS 250C 2dr Conv Auto -$272 Wagon 2009 Nissan cube 5dr Wagon CVT SL -$178 Mini-van 2010 Toyota Sienna 5dr 7-Pass Van CE FWD -$110 Top Vehicles (overall) Rank Year / Make / Model / Trim $ Drop From Last Month 1 2010 Ford Mustang 2dr Coupe GT Premium -$910 2 2010 MINI Cooper Hardtop 2dr Coupe S -$891 3 2010 Ford F-150 4WD SuperCrew 145" XLT -$850 4 2010 Volvo XC60 AWD 4dr 3.2L w/Moonroof -$607 5 2010 Lexus GX 460 4WD 4dr -$468 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 January 13th, 2010 to February 9th, 2010. Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 6
  • January’s Shortest and Longest Days in Inventory Industry Wide Average Days to Turn Shortest to Longest ( by Body Type ) for January: 53 Days Rank Make / Model Days in Inventory 1 Sport Utility 34 Shortest and Longest Days in Inventory 2 Wagon 57 TrueCar ranks the vehicles that spend, on 3 Hatchback 59 average, the shortest and longest days on the 4 Sedan 59 lot before they sell. We rank both by overall shortest/longest days in inventory as well as by 5 Coupe 62 category. Vehicles that spend little time in 6 Pickup 63 inventory are in high demand, while vehicles that 7 Van 67 spend an extended time in inventory are in low 8 Pickup 73 demand. 9 Convertible 106 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 9-3 386 2 Infiniti G37 47 2 Chevrolet Cobalt 274 3 Chevrolet Tahoe 49 3 Chevrolet HHR 258 4 Toyota Venza 50 4 Chevrolet Impala 256 5 Kia Borrego 52 5 Volkswagen Routan 246 6 Hyundai Santa Fe 63 6 Hyundai Accent 239 7 GMC Yukon Denali 64 7 Honda Civic 237 8 Nissan Cube 64 8 Chevrolet Aveo 232 9 Kia Rio 67 9 Honda Accord 231 10 Chevy Silverado 2500 HD 69 10 Chevrolet Corvette 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 10 1 Volvo C70 90 2 Acura MDX 10 2 Hyundai Sonata 89 3 Cadillac Escalade 11 3 Kia Forte 85 4 Chevrolet Equinox 12 4 Chevrolet Malibu 81 5 Chevy Suburban C1500 12 5 Dodge Grand Caravan 81 6 Infiniti G37 12 6 Honda Insight 77 7 Lexus LX 570 12 7 Hyundai Elantra 73 8 Hyundai Tucson 12 8 Dodge Avenger 72 9 BMW X5 13 9 Ford Mustang 69 10 Hyundai Santa Fe 13 10 Jaguar XF 68 Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 7
  • Model Year Share Percent Industry Share of Model Year Vehicles 11% 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 89% 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 any 2009 model in order to make room for a 2010. Between 2009 and 2010 vehicles, 2010 shares 89% 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 Subaru 1% 1 Saab 98% 2 Lexus 1% 2 Smart 81% 3 Scion 2% 3 Suzuki 61% 4 Buick 2% 4 Infiniti 47% 5 Toyota 2% 5 Hummer 45% 6 Mazda 3% 6 Kia 37% 7 Mercury 3% 7 Hyundai 29% 8 Land Rover 3% 8 GMC 26% 9 Volvo 3% 9 Chevrolet 26% 10 Ford 4% 10 Mini 17% Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 8
  • 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 Febtuary 16th, 2010 - TrueTrends™ by TrueCar™ - © 2010 TrueCar, Inc. 9