For the the second consecutive month, the average transaction price (ATP) for light-vehicles in the United States was $29,520, down $362 (-1.2 percent) from January and $1,320 (-4.3 percent) from February 2013, according to Cars.com’s chief analyst Jesse Toprak.
“Strong sales of small, lower cost SUVs and decreased demand within the large-truck segment contributed to another month of declining transaction prices,” said Toprak. “These are the lowest incentive levels we’ve seen since October 2012, but as the weather warms in the coming weeks, we expect both incentive spending and transaction prices to increase. This growth will be fueled by mounting dealer inventory and rising demand for high-priced vehicles, specifically within the luxury and large-trucks segments.”
The average incentive on light-vehicles this month was $2,372, down $11 (-0.5 percent) from January and down $106 (-4.3 percent) from February 2013.
Will increased dealer inventory and consumer demand power up March sales? Share your thoughts in the comments section below.