SANTA MONICA, Calif.--(BUSINESS WIRE)--Consumers seeking the utility of a pickup minus the full-sized bulk of the larger trucks that traditionally define the segment can find excellent savings this month as the launch of Honda’s all-new Ridgeline stirs up competition with midsized counterparts. Discounts are in order as the weather warms and consumers begin heading outdoors, according to TrueCar, Inc. (NASDAQ: TRUE).
“Toyota’s Tacoma was the primary choice for consumers interested in a midsized pickup for many years, keeping the model’s prices high and tight,” said Eric Lyman, TrueCar’s vice president of industry insights. “GM shook up the segment in 2014 with revamped Chevy Colorado and GMC Canyon trucks that upped the ante in refinement and capability. With Honda joining the party and Nissan’s late-in-its-lifecycle Frontier rounding out the bunch, the segment is more competitive than it’s been in years. And though not officially confirmed, the Ford Ranger may make a U.S. comeback in the 2019 model year.”
Savings worth noting in the midsized pickup segment include $1,205, or 3.08%, off MSRP on a 2016 Limited Toyota Tacoma Double Cab Short Bed equipped with 4WD and a V6 engine. For those who want more off-road intensity, the market average for the 2016 V6 TRD Sport model is available this month with a 3.36% discount off MSRP.
GM’s fraternal twins, the Chevrolet Colorado and GMC Canyon, are fighting it out with similar savings off MSRP. This includes a $1,089, or 3.02%, break on the 2016 Colorado Z71 4WD Crew Cab with a Long Box, and a 3.29% discount on a 2016 2WD Z71 Crew Cab with a Short Box. GMC’s Canyon SLT 4WD Crew Cab with a Long Box is available with savings of $1,341, a 3.45% discount off MSRP. The market average price paid for the same-length 2WD SLE Crew Cab has a larger discount of 3.66% off MSRP.
Customers drawn to the Nissan Frontier can find even better discounts this month. The 4X4 King Cab SL with a Long Bed is available with savings worth $1,804, or 4.87%, off MSRP. The 4X4 SV Crew Cab has even better savings, totaling $1,580 or 5.38% off MSRP. Both trims are 2016 model year trucks.
“With Memorial Day around the corner, automakers are also gearing up to support service members with special military discounts worth about $500 or more as well as national sales events around this beloved holiday weekend,” said Cari Crane, TrueCar’s senior industry analyst. “May kicks off the summer selling season, and is a prime time for consumers to find savings on a broad range of popular vehicles.”
To learn about Deals and Discounts for 2016 College Graduates, check out TrueCar Adviser.
Published monthly, the “TrueSavings” report analyzes recent transaction prices and identifies opportunities for consumer savings.
The Top 5 biggest savings of MSRP across all vehicle segments in May 2016:
|
Year/Make/ |
Segment | MSRP |
Market |
$ Savings/ |
City/Hwy/Comb |
|||||
|
2016 Toyota |
Large Car | $41,285 | $36,073 | $5,212/12.6% | 21/31/25.5 | |||||
|
2016 Toyota |
Midsize Car | $23,905 | $20,598 | $3,307/13.8% | 23/35/28.3 | |||||
|
2015 Hyundai |
Small Car | $22,085 | $18,898 | $3,187/14.4% | 24/35/29 | |||||
|
2016 Kia Forte |
Small SUV | $18,940 | $16,485 | $2,455/13% | 25/33/28.8 | |||||
|
2016 Chevrolet |
Midsized SUV | $32,100 | $28,841 | $3,259/10.2% | 17/24/20.2 |
*“Market Average” is based on the national average of recent vehicle transactions, including destination and delivery charges after incentives that are subject to change. This does not include tax, title, licensing, documentation or processing fees, other state and governmental charges and/or fees or any other charges or fees allowed by law.
Average Customer Cash for TrueCar users**:
2016 Ford F-150
2WD SuperCrew 5-1/2 Ft Box XLT: on average $4,256 in customer cash
2016
Chrysler Town & Country Touring: on average $3,637 in customer cash
2016
Hyundai Veloster Automatic: on average $2,740 in customer cash
2016
Nissan Maxima 3.5 S: on average $1,908 in customer cash
2016 Toyota
Camry XSE: on average $1,424 in customer cash
**Based on average
manufacturer-to-customer incentive offers reflected on TrueCar
Certificates between 5/3/2016-5/9/2016 for the specified trim.
A snapshot of some of the best manufacturer lease and finance deals now available in certain regions:
Finance offers*:
2016 Ford F-150: 0.0% financing for up to
60 months, Exp: 5/31/16
2016 Nissan Altima: 0.9% financing for up
to 72 months, Exp: 5/31/16
2016 Chevrolet Volt: 2.9% financing for
up to 48 months, Exp: 5/31/16
2017 Hyundai Elantra: 0.9% financing
for up to 60 months, 6 months no payments, Exp: 5/31/16
Lease offers*:
2016 Toyota Corolla: $149/month for 36
months, $1,999 down, 12,000 miles/year, no security deposit, Exp: 5/31/16
2016
Chevrolet Trax: $179/month for 39 months, $1,619 down, 32,500
miles/year, no security deposit required, Exp: 5/31/16
2016 Honda
Accord: $189/month for 36 months, $1,999 down, 12,000 miles/year, no
security deposit, Exp: 7/5/16
2016 Kia Optima: $209/month for 24
months, $1,999 down, 12,000 miles/year, no security deposit, Exp: 7/5/16
(The deal information summarized above is provided for illustrative purposes only, and is not an offer to lend. Results may vary depending on your individual circumstances, including credit approval by dealer/manufacturer. Deals are subject to change and are limited to inventory on hand. See your dealer/manufacturer for details, including actual offers available in your region.)
About TrueCar
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 11,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over one third of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.
