Car Transaction Prices Soar in America

The average transaction price of a light vehicle sold in the U.S. surged nearly $2,000 year over year to a record-high $30,750 in March, according to TrueCar.com.

The online auto information provider says transaction prices are climbing because carmakers have found the "sweet spot" for balancing vehicle production with demand, resulting in lower incentives. Last month's average transaction price was $140 higher than in February.

General Motors had the highest average transaction price ($33,290) among major carmakers last month, followed by Ford ($31,760), TrueCar says. Several companies achieved record-high transaction prices last month, including GM, Chrysler ($29,840), Hyundai/Kia ($21,720) and Nissan ($28,320).