It’s not quite the end of the month, but analysts are already coming out with June numbers that show some important trends in the current car market. Just hours ago, the much revered TrueCar auto valuation authority revealed some of what’s happening at dealer lots across America; TrueCar uses an “aggregation” of dealer information and other sources to base forecasts on real transaction prices for vehicles on the North American market.
One unsurprising element of the June report is the emergence of Korean auto maker Hyundai as a major player in the pack of foreign car makers hawking their wares stateside. The report found Hyundai’s market share edging up to just above 10% and supplanting the numbers for both Honda and Nissan. Hyundai also saw some of the biggest gains in unit sales, with an increase of 10.7%; Toyota topped the scale at 16.5%. In news on domestic auto makers, General Motors beat Ford in market share with 19.9% over Ford’s 17.6%.
In terms of incentive spending, TrueCar found average industry spending flat for June, but noted that the numbers show Toyota, Nissan and Honda doing substantially more incentive spending this month.
The TrueCar report offers more than just news on the markets. It helps shoppers to anticipate which car models will provide the most in terms of manufacturer incentives and rebates, as well as which models may be priced up at dealer lots due to high demand. You can use these sorts of research tools, easily available online, to fine-tune your car financing studies for getting a new vehicle at a cheaper price. Up to date auto pricing information helps; so does knowing your credit score, looking at current offered interest rates for financing, and finding any low price points or special sales that could help you out in your local area. Always consider what you’re signing at the dealership and look beyond low monthly payments to get the big picture on which new cars will get you the most for your buck.
