FOR IMMEDIATE RELEASE
Edmunds Price Index (EPI) Shows Overall Increase in Vehicle Prices but Large SUV and Truck Prices on the Decline
SANTA MONICA, Calif. - May 12, 2004 - Edmunds.com, the premier online resource for automotive information, reported today that the Edmunds Price Index for new vehicles (EPI-N) increased a dramatic 2.4% to 100.2 from April 2003 to April 2004 (January 2002 = 100.) And, from March 2004 to April 2004, the Edmunds.com New Vehicle Price Index increased 0.3% from 99.9 to 100.2.
Examining the month-over-month data by segment, Edmunds.com found compact cars had the largest increase at 2.4%, followed by midsize cars at 1.2%. Large SUVs had the most significant decline at 1.5%, while large trucks dropped 1.2%.
"Although we have yet to see a flood of consumers trading in their large SUVs or trucks for smaller, more fuel-efficient cars, our analysis of 16 different vehicle segments clearly displays a relative weakening of demand for larger, less fuel-efficient vehicles," said Dr. Jane Liu, Vice President of Data Analysis for Edmunds.com. "We will pay close attention to see if this fluctuates with fuel prices, especially as we enter the summer, historically the most expensive season for gasoline."
Similar in purpose to the Consumer Price Index (CPI), the EPI-N measures the average changes in retail prices for new vehicles with fixed options over time in order to analyze trends. Edmunds.com also calculates and reports a wide range of data including transaction prices and net prices of vehicles by country of origin, manufacturer, make, model and vehicle segment.
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 Data Services 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.