FOR IMMEDIATE RELEASE
Edmunds Price Index (EPI) Reveals Average Vehicle Sold for Record $5,200 off Sticker Price in September, a 17.6% Discount
SANTA MONICA, CALIF. - October 13, 2004 - Edmunds.com, the premier online resource for automotive information, reported today that in September the average vehicle was sold at a discount of more than $5,000 under sticker price for the first time in history.
"For many manufacturers, constant incentives make the sticker price a meaningless number," commented Dr. Jane Liu, Vice President of Data Analysis for Edmunds.com.
In September 2004, the sales-weighted average new vehicle sticker price was $30,104, $573 higher than in August 2004 and $878 higher than in September 2003. The sales-weighted average net price was $24,817, $45 higher than in August 2004 and $262 higher than in September 2003, putting the average discount from sticker to net price at a record high of $5,287, or 17.6% of average sticker price.
Examining the industry by market segment, Edmunds.com found trucks and SUVs experienced significant discounts in September, at 21.7% and 17.9% respectively, while passenger cars remained steady at 14.8%.
The last time the sales-weighted average new vehicle sticker price averaged over $30,000 was in December 2003, when the discount was 14.5%, 3% lower and almost $900 less than it was in September 2004.
This data was released today with the Edmunds Price Index for new vehicles (EPI-N), which reflects price shifts for the industry as a whole, and can be analyzed by different market segmentation. Edmunds.com also analyzes transaction prices and net prices by country of origin, manufacturer, make and model, reflecting manufacturer-to-consumer rebates, including low APR and special lease programs.
About Edmunds.com, Inc.
Edmunds.com is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value® pricing, is generated by Edmunds.com Information Solutions and is licensed to third parties. For example, the company supplies over 800,000 pages of content for the auto sections of AOL and NYTimes.com, provides weekly data to Automotive News and delivers monthly data reports to Wall Street analysts. Edmunds.com was named "best car research" site by Forbes ASAP, has been selected by consumers as the "most useful Web site" according to every J.D. Power and Associates New Autoshopper.com StudySM and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, Calif. and maintains a satellite office outside Detroit.