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Average transaction price up from last yearThursday, August 1, 2013

Category:Car Enthusiast Talk

TrueCar.com recently released its estimates for the average transaction price of cars sold in July. 

According to the source, the average transaction price for vehicles sold across the country in July was $31,088, up 1.2 percent on a year-over-year comparison and down 0.1 percent on a month-over-month comparison. 

"Despite the sizable increase in incentives spending compared to last year's levels, average transaction prices for the industry remained flat at near record territory, indicating the continued consumer preference for highly contented small vehicles on the one end and the strengthening of the full size truck segment on the other," said Jesse Toprak, senior analyst for TrueCar.

TrueCar also reported that incentives for light vehicles sold in July was $2,684, up 7.6 percent on a year-over-year comparison and up 0.7 percent on a month-over-month comparison. 

July expected to see strong sales 
As demand for new vehicles is strong across the country, sales have continued to be high. Kelley Blue Book reported that new car sales are expected to hit 1.34 million units in July, accounting for a 16.1 percent on a year-over-year comparison and 4.4 percent on a month-over-month comparison. 

With July typically being a strong sales month, KBB has revised its sales forecast for 2013. By the end of the year, KBB expects sales will reach15.3 million to 15.6 million. Alec Gutierrez, senior market analyst at Kelley Blue Book, said the automotive industry has reached its highest levels since January 2008

"As new-car demand continues to improve with leases accounting for nearly 25 percent of all new-car sales, along with continued solid truck sales, we've improved our forecast for 2013 to 15.6 million units," said Alec Gutierrez, senior market analyst at Kelley Blue Book. "Consumer confidence has a played a key role in the ongoing recovery and currently is at the highest levels seen since January 2008. With modest improvements in unemployment and housing expected to continue through the rest of the year, confidence likely will follow suit, driving new-car demand along with it."

High demand for new car accessories
As sales have continued to be strong across the country, more Americans will be looking for ways to maintain the value of their car. As an average transaction price of $31,088 isn't cheap, those who recently purchased a vehicle should equip it with Husky Liners® car floor mats. These mats will ensure an interior stays as fresh and clean as the day the car pulled off the lot.

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