Ford_News
07-13-2010, 07:40 AM
Filed under: Car Buying (http://www.autoblog.com/category/carbuying/), Chrysler (http://www.autoblog.com/category/chrysler/), Ford (http://www.autoblog.com/category/ford/), GM (http://www.autoblog.com/category/gm/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/)
http://www.blogcdn.com/www.autoblog.com/media/2010/07/big3transactions.jpg (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle)
Hyundai has had the largest jump in transaction prices so far this year, but the Detroit Three have made the kinds of gains they haven't seen in years. Overall, consumers spent $29,217 on a car through the first five months of this year, with the domestics all meeting or exceeding that number. Only Chrysler (http://www.autoblog.com/make/chrysler) fell a hair short, with an average transaction price just seven dollars below the industry average. However, all three Detroit companies posted percentage increases that beat the industry.
While the popularity of full-sized pickups, crossovers and SUVs has made a difference for Ford (http://www.autoblog.com/make/ford), General Motors (http://www.autoblog.com/make/gm) and Chrysler, the "more disciplined approach" to running their business, caused by the recession, is also credited for reducing inventory and incentives. As well, buyers with good credit make up more of the consumer pool now, and they're choosing more technology and options for their cars. If they keep this up they might one day be The Big Three again. Eventually...
[Source: Freep (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle) | Image: Edmunds.com]Report: Detroit Three's average transaction prices better than Japan, Korea (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/) originally appeared on Autoblog (http://www.autoblog.com) on Tue, 13 Jul 2010 09:32:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Read (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle) | Permalink (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/) | Email this (http://www.autoblog.com/forward/19549759/) | Comments (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/#comments)
More... (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/)
http://www.blogcdn.com/www.autoblog.com/media/2010/07/big3transactions.jpg (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle)
Hyundai has had the largest jump in transaction prices so far this year, but the Detroit Three have made the kinds of gains they haven't seen in years. Overall, consumers spent $29,217 on a car through the first five months of this year, with the domestics all meeting or exceeding that number. Only Chrysler (http://www.autoblog.com/make/chrysler) fell a hair short, with an average transaction price just seven dollars below the industry average. However, all three Detroit companies posted percentage increases that beat the industry.
While the popularity of full-sized pickups, crossovers and SUVs has made a difference for Ford (http://www.autoblog.com/make/ford), General Motors (http://www.autoblog.com/make/gm) and Chrysler, the "more disciplined approach" to running their business, caused by the recession, is also credited for reducing inventory and incentives. As well, buyers with good credit make up more of the consumer pool now, and they're choosing more technology and options for their cars. If they keep this up they might one day be The Big Three again. Eventually...
[Source: Freep (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle) | Image: Edmunds.com]Report: Detroit Three's average transaction prices better than Japan, Korea (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/) originally appeared on Autoblog (http://www.autoblog.com) on Tue, 13 Jul 2010 09:32:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Read (http://www.freep.com/apps/pbcs.dll/article?AID=/20100709/BUSINESS01/7090369/Detroit-automakers-outpace-industry-gains&template=fullarticle) | Permalink (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/) | Email this (http://www.autoblog.com/forward/19549759/) | Comments (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/#comments)
More... (http://www.autoblog.com/2010/07/13/report-detroit-threes-average-transaction-prices-better-than-j/)