Average Light Vehicle Price Up 0.5% in June

Date : 07/03/2012 @ 8:20AM
Source : Dow Jones News
Stock : Honda Motor Company, Ltd. (HMC)
Quote : 27.39  -0.13 (-0.47%) @ 10:18AM

Average Light Vehicle Price Up 0.5% in June

Honda Motor (NYSE:HMC)
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The average transaction price for light vehicles sold in the U.S. edged up in June from the previous month led by growth at Nissan Motor Co. (7201.TO, NSANY) and Ford Motor Co.( F), according to industry-research site TrueCar.com.

The firm estimated the average transaction price for light vehicles in the U.S. was $30,508 in June, up 0.5% from May and 2.9% from a year ago.

Year to year, Toyota Motor Corp. (TM, 7203.TO) and Honda Motor Co. (7267.TO, HMC) saw the most improvement, with prices up 8% and 5%, respectively.

"Despite the relative slowdown in the last two months, the auto industry continues to experience improved profitability with strong year-over-year sales, historically high transaction prices and precise incentives spending," said Jesse Toprak, of TrueCar.com.

TrueCar said the average incentive for light vehicles was $2,432 in June, down 4.8% from May and up 1.5% from a year earlier.

TrueCar.com estimated the ratio of incentives to average transaction price for light-vehicles was 8% in June, down from 8.4% in May, and from 8.1% a year ago.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

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