PriceSCAN Press Release
10/21/09
Automotive GPS – Voice Recognition Index Drops 2% This Week after Month of Stability in September
PriceSCAN Vice President of Financial Products Daniel Fehder commented that the Automotive GPS – Voice Recognition Index dropped 2% this week. This drop caps a 7.5% fall so far in October. In September, the index was remarkably stable, dropping only 1% over the course of the entire month.
Jeff Trester, PriceSCAN Co-CEO and Chief Economist, noted, “The end of “cash for clunkers” auto purchases may be reducing demand for GPS, contributing to price weakness. It will be interesting to see if recently higher crude prices filter through to the consumer at the pump as we approach the holidays, possibly motivating stronger GPS demand and pricing since this technology’s value increases with the cost of gas saved by avoiding around lost.”
About The PriceSCAN Manufactured Product Indices
The PriceSCAN Manufactured Product Indices are a set of 50 indices tracking a broad array of finished good prices at the retail level. The PriceSCAN indices are carried on Bloomberg's data service under the ticker symbol PRIC and are available on PriceSCAN.com’s website at http://www.pricescan.com/indices. PriceSCAN.com also makes available customized data packages for clients in the financial, technology and retail communities.
About the PriceSCAN.com Econometric Team
Dr. Jeffrey J. Trester is Co-CEO and Chief Economist of PriceSCAN. After graduating MIT and attending Yale for graduate studies in theoretical physics, Dr. Trester received his PhD in financial economics from the Wharton School. He has also served on the Philadelphia Federal Reserve Bank’s Business Council. Daniel C. Fehder is Vice President of Financial Products at PriceSCAN.com. A graduate of Harvard and University of Pennsylvania, he can be reached for comment at analytics {at} pricescan.com
About PriceSCAN.com, Inc
Founded in 1997, PriceSCAN.com is a comprehensive price and product comparison service. Millions of consumers a year have used PriceSCAN.com to bargain hunt. In addition to price comparison, PriceSCAN.com offers objective vendor ratings, a price focused technology blog, user reviews, price trend graphs, and email price target alerts.
