Average new vehicle transaction price at $29K, up more than $2K from August 2010
According to the CNW Marketing Research, the core transaction price of a new vehicle is up slightly more than $2,000 from August 2010 to $29, 643. The company says that is due in part to an increase in the average MSRP of $34,629 and a decrease in the amount of discounting being done by automakers and dealers.
While core transaction prices are up, however, CNW says more consumers, in the face of continuing economic turmoil, are becoming cautious about buying a new vehicle. It notes that the number of those delaying a purchase has increased significantly, and that the delay period itself is up as well, from 5.5 months in July 2010 to 8.3 months in July 2011.
August 2011 August 2010
Avg. MSRP $34,629 $32,701
Discounts $4,986 $5,720
MFR incentive $3,239 $3,269
Dealer add-in $1,747 $2,431
Core transaction price $29,643 $27,001
%total discount off MSRP 14.4% 17.4%
Purchase delay (months) 8.3 5.5 (July)
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