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Hyundai/Kia Have Record Transaction Prices in August 2012; Industry Incentives Decline for Fourth Consecutive Month According to TrueCar.com

September 4, 2012

SANTA MONICA, Calif., Sept. 4, 2012 /PRNewswire/ – TrueCar.com, the authority on car pricing, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $30,274 in August 2012, up $428 (1.4 percent) from August 2011 and down $95 (0.3 percent) from July 2012.

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“Consumers’ preferences concentrated on the two extreme ends of the segments in August: small cars and large trucks both enjoyed market share gains – a trend that more or less resulted in a wash from the previous month,” said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com. “The increase in transaction prices compared to last year while lowering incentive spending shows the strengthening demand for new vehicles and a positive sign for the automakers’ bottom line.”

    Manufacturer                                August 2012 Transaction Price July 2012 Transaction Price August 2011 Transaction Price    Percent Change August    Percent Change July
                                                                                                                                           2011 to August 2012      2012 to August 2012
    ------------                                ----------------------------- --------------------------- -----------------------------    ---------------------    -------------------
    Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)                          $29,596                       $29,647                     $28,700                     3.1%                   -0.2%
    -------------------------------------------                          -------                       -------                     -------                     ---                    ----
    Ford (Ford, Lincoln)                                                 $32,196                       $32,089                     $31,829                     1.2%                    0.3%
    -------------------                                                  -------                       -------                     -------                     ---                     ---
    GM (Buick, Cadillac, Chevrolet, GMC)                                 $32,391                       $32,554                     $32,344                     0.1%                   -0.5%
    -----------------------------------                                  -------                       -------                     -------                     ---                    ----
    Honda (Acura, Honda)                                                 $26,767                       $27,123                     $26,580                     0.7%                   -1.3%
    -------------------                                                  -------                       -------                     -------                     ---                    ----
    Hyundai/Kia                                                          $22,378                       $22,340                     $21,144                     5.8%                    0.2%
    -----------                                                          -------                       -------                     -------                     ---                     ---
    Nissan (Nissan, Infiniti)                                            $27,708                       $27,892                     $27,421                     1.0%                   -0.7%
    ------------------------                                             -------                       -------                     -------                     ---                    ----
    Toyota (Lexus, Scion, Toyota)                                        $27,845                       $28,074                     $27,343                     1.8%                   -0.8%
    ----------------------------                                         -------                       -------                     -------                     ---                    ----
    Volkswagen (Audi, Volkswagen)                                        $33,207                       $33,366                     $32,985                     0.7%                   -0.5%
    ----------------------------                                         -------                       -------                     -------                     ---                    ----
    Industry                                                             $30,274                       $30,369                     $29,846                     1.4%                   -0.3%
    --------                                                             -------                       -------                     -------                     ---                    ----

In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,457 in August 2012, down $158 (6.0 percent) from August 2011 and down $49 (2.0 percent) from July 2012.

    Manufacturer                                August 2012 Incentives July 2012 Incentives August 2011 Incentives        Percent Change August    Percent Change July
                                                                                                                          2011 to August 2012      2012 to August 2012
    ------------                                ---------------------- -------------------- ----------------------        ---------------------    -------------------
    Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)                        $3,088               $3,117                 $3,385                    -8.8%                   -0.9%
    -------------------------------------------                        ------               ------                 ------                    ----                    ----
    Ford (Ford, Lincoln)                                               $2,621               $2,699                 $2,699                    -2.9%                   -2.9%
    -------------------                                                ------               ------                 ------                    ----                    ----
    GM (Buick, Cadillac, Chevrolet, GMC)                               $2,990               $3,063                 $3,118                    -4.1%                   -2.4%
    -----------------------------------                                ------               ------                 ------                    ----                    ----
    Honda (Acura, Honda)                                               $2,216               $2,263                 $2,228                    -0.5%                   -2.1%
    -------------------                                                ------               ------                 ------                    ----                    ----
    Hyundai/Kia                                                        $1,071               $1,078                 $1,289                   -16.9%                   -0.6%
    -----------                                                        ------               ------                 ------                   -----                    ----
    Nissan (Nissan, Infiniti)                                          $2,903               $3,170                 $2,773                     4.7%                   -8.4%
    ------------------------                                           ------               ------                 ------                     ---                    ----
    Toyota (Lexus, Scion, Toyota)                                      $1,904               $1,826                 $2,417                   -21.2%                    4.3%
    ----------------------------                                       ------               ------                 ------                   -----                     ---
    Volkswagen (Audi, Volkswagen)                                      $2,568               $2,633                 $1,843                    39.3%                   -2.5%
    ----------------------------                                       ------               ------                 ------                    ----                    ----
    Industry                                                           $2,457               $2,506                 $2,614                    -6.0%                   -2.0%
    --------                                                           ------               ------                 ------                    ----                    ----

TrueCar.com estimated that the ratio of incentives to average transaction price for light-vehicles was 8.1 percent in August 2012, down from 8.8 percent in August 2011 and down from 8.3 percent in July 2012.

    Manufacturer                                August 2012 Incentives/Avg. Transaction July 2012 Incentives/Avg. Transaction August 2011 Incentives/ Avg.  Percent Change August Percent Change July 2012
                                                Price                                   Price                                   Transaction Price             2011 to August 2012 to August 2012
    ------------                                --------------------------------------- ------------------------------------- ---------------------------- --------------------- ------------------------
    Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)                                    10.4%                                   10.5%                         11.8%                   -1.4%                -0.1%
    ------------------------------------------                                     ----                                    ----                          ----                    ----                 ----
    Ford (Ford, Lincoln)                                                            8.1%                                    8.4%                          8.5%                   -0.3%                -0.3%
    -------------------                                                             ---                                     ---                           ---                    ----                 ----
    GM (Buick, Cadillac, Chevrolet, GMC)                                            9.2%                                    9.4%                          9.6%                   -0.4%                -0.2%
    -----------------------------------                                             ---                                     ---                           ---                    ----                 ----
    Honda (Acura, Honda)                                                            8.3%                                    8.3%                          8.4%                   -0.1%                -0.1%
    -------------------------------------------                                     ---                                     ---                           ---                    ----                 ----
    Hyundai/Kia                                                                     4.8%                                    4.8%                          6.1%                   -1.3%                 0.0%
    -----------                                                                     ---                                     ---                           ---                    ----                  ---
    Nissan (Nissan, Infiniti)                                                      10.5%                                   11.4%                         10.1%                    0.4%                -0.9%
    ------------------------                                                       ----                                    ----                          ----                     ---                 ----
    Toyota (Lexus, Scion, Toyota)                                                   6.8%                                    6.5%                          8.8%                   -2.0%                 0.3%
    ----------------------------                                                    ---                                     ---                           ---                    ----                  ---
    Volkswagen (Audi, Volkswagen)                                                   7.7%                                    7.9%                          5.6%                    2.1%                -0.2%
    ----------------------------                                                    ---                                     ---                           ---                     ---                 ----
    Industry                                                                        8.1%                                    8.3%                          8.8%                   -0.6%                -0.1%
    --------                                                                        ---                                     ---                           ---                    ----                 ----

About TrueCar, Inc.

TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in San Francisco, Calif., and Austin, Texas, is an automotive pricing and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, its automotive information website, TrueCar.com, provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area.

TrueCar is a data-driven company that sources and compiles car-buying information unlike anybody in the industry. Since its founding in 2005, TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide. TrueCar’s national network of more than 4,600 Certified Dealers is committed to provide no-hassle pricing for some of the country’s largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

You can follow TrueCar on Twitter and become a fan of TrueCar on Facebook.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

Disclaimer

This press release and the information contained herein is for noncommercial use on “as-is, as available” basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.

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Source: PR Newswire