SOURCE: TrueCar

TrueCar

January 18, 2010 08:58 ET

TrueCar January TrueTrends Report

Report Identifies Three 'Best Days' To Buy a Car; Fords and Volvos Top List of Greatest Discounts

SANTA MONICA, CA--(Marketwire - January 18, 2010) - If you are thinking that January is a bad time to buy a car, you aren't alone. The month has historically been a slow time to buy, coming off the heels of the high spending holiday season. However, TrueCar.com recommends you rethink that, as dealers might be very eager to get your business.

TrueCar (www.truecar.com), the authority on new car pricing, today released its monthly TrueTrends Report. The monthly 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 and Days in Inventory.

The January TrueTrends Report includes the following highlights:

-- The best day of the month to buy a car -- when discounts are projected at 6.62% -- will fall on February 1, 2010. However, there will be two other days in that period (January 25 and February 8) that will also be above 6.5% and are also great days to buy a car.

-- If you are in the market for a Chevrolet and can find a 2009, now is the time. Five of the manufacturer's models are in TrueCar.com's list of Longest Days in Inventory, including the Corvette, Impala, Aveo 5, Cobalt and HHR; three are among our greatest discount models, including Cobalt, Silverado 1500 and Corvette.

-- For 2010 models, Ford and Volvo each have two with the greatest discounts in their respective categories for the month: the Ford Ranger leads all pickups at 17% and Ford Edge bests all sedans at 13%; the Volvo C70 tops all convertibles at 12% while the XC70 is highest among wagons, also at 12%.

-- Apparently fears of becoming an orphan owner (owner of a defunct brand) have kept consumers away from Saab, with the 2009 9-3 averaging nearly a year (358 days) in inventory.

"January is historically a very slow month for dealerships in terms of sales," said Jesse Toprak, VP of Industry, Trends and Insights for TrueCar.com. "The manufacturers typically offer fewer incentives to consumers so the dealers are much more willing to offer discounts off of MSRP to help make more deals.

"So January could actually turn out to be a really great month for consumers who do their homework before they buy, as dealers are more motivated to make something from nothing," added Toprak.

TrueCar Price Flex Score and the Greatest Discounts

TrueCar uses several methods to identify the best new car deals of the month. Not only does TrueCar track vehicles with the greatest discounts, but the TrueCar Price Flex Score measures how elastic the transaction price is for a particular model. For example, if you are planning to buy a vehicle with a low Price Flex Score, don't expect much of a discount from the TrueCar average price. If a vehicle has a high Price Flex Score, however, you have the potential to strike a deal significantly below (or above, if you are not careful!) the TrueCar average price. The report alerts consumers to the lowest and highest Price Flex Scores, providing an additional layer of information beyond just the average prices so consumers can get the best deals possible.

  2009 Most Flexible Vehicles            2010 Most Flexible Vehicles
Make         Model        Score         Make       Model         Score
Hummer       H3           97            Chrysler   PT Cruiser    93
Mazda        MX-5 Miata   97            Mazda      MX-5 Miata    90
Dodge        Viper        91            Mazda      6             88
Volkswagen   New Beetle   90            Hummer     H3            86
Volkswagen   EOS          89            Hyundai    Accent        85



Top 2009 Greatest Discounted Models   Top 2010 Greatest Discounted Models

                        % Below                                  % Below
Rank Year Make Model       MSRP         Rank    Year Make Model     MSRP
1    Dodge Ram 1500          27%        1       Ford Ranger           17%
2    Kia Sorrento            23%        2       Jeep Grand Cherokee   16%
3    Chevrolet Cobalt        20%        3       Toyota Tundra 2WD     13%
4    Chev. Silverado 1500    17%        4       Ford Edge             13%
5    Chevrolet Corvette`     17%        5       Ford Focus            12%

TrueCar's Consumer Price Report 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 buyers actually pay for vehicles. The report is based on data for more than 43% of all individual US retail transactions per month from dozens of proprietary and third party sources offering TrueCar Price Reports on more than 84% of all new cars at the local level, as well as information on dealer and consumer incentive trends.

About TrueCar

TrueCar (http://www.truecar.com/) is the authority in new car prices. TrueCar analyzes data from thousands of sources to show car buyers and car dealers how much people actually paid for a particular car in a specific local area. The innovative new car pricing service is offered online, free of charge at TrueCar.com. With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious -- using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers. Led by a highly experienced team from the automotive and technology industries, TrueCar is based in Santa Monica, California.

Contact Information