April 2013 New Car Sales Expected to Be Up Almost Eleven Percent according to TrueCar; April 2013 SAAR at 15.2M, Highest April SAAR Since 2007 Estimated incentive spending up about one percent at $2,466 per vehicle

SANTA MONICA, Calif., April 25, 2013 /PRNewswire/ -- TrueCar.com, the authority on new car pricing information, trends and forecasting, today released its April 2013 sales and incentives forecast.  The forecast shows the following:

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  • For April 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,305,901 units, up 10.7 percent from April 2012 and down 9.8 percent from March 2013 (on an unadjusted basis).
  • The April 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.2 million new car sales, flat from March 2013 and up from 14.1 million in April 2012.
  • Retail sales are up 4.2 percent compared to April 2012 and up 20.2 percent from March 2013.
  • Fleet and rental sales are expected to make up 21.7 percent of total industry sales in April 2013.
  • The industry average incentive spending per unit will be approximately $2,466 in April 2013, which represents an increase of 0.9 percent from April 2012 and is down 5.3 percent from March 2013.
  • Used car sales* are estimated to be 2,944,141.  The ratio of new to used is estimated to be 1:2 for April 2013.

"New car sales continued their stable year-over-year growth curve in April, with improved consumer demand propelling the sales rate above 15 million units for the sixth month in a row," said Jesse Toprak, senior analyst for TrueCar.com. "Relatively lower gas prices coupled with small business demand improving for trucks resulted in a strong showing for small and large pickups in April, a trend we expect to see strengthen even further for the rest of 2013."

Forecasts for the top eight manufacturers for April 2013:

Unit Sales

Manufacturer

April 2013 Forecast

% Change vs. March 2013

% Change vs. April 2012

Chrysler

157,119

-8.2%

11.7%

Ford

207,568

-10.2%

17.2%

GM

235,164

-4.4%

10.2%

Honda

129,068

-5.1%

5.8%

Hyundai/Kia

103,249

-12.1%

-6.0%

Nissan

101,558

-26.3%

42.4%

Toyota

188,908

-8.0%

6.1%

Volkswagen Group

49,671

-8.8%

-5.4%

Industry

1,305,901

-9.8%

10.7%

Market Share

Manufacturer

April 2013 Forecast

March 2013

April 2012

Chrysler

12.0%

11.8%

11.9%

Ford

15.9%

16.0%

15.0%

GM

18.0%

17.0%

18.1%

Honda

9.9%

9.4%

10.3%

Hyundai/Kia

7.9%

8.1%

9.3%

Nissan

7.8%

9.5%

6.0%

Toyota

14.5%

14.2%

15.1%

Volkswagen Group

3.8%

3.8%

4.5%

 

Incentive Spending

Manufacturer

April 2013 Incentives

% Change vs. March 2013

% Change vs. April 2012

Total Spending

Chrysler

$3,209

-3.4%

-1.1%

$     504,167,642

Ford

$2,690

-9.8%

9.2%

$     558,274,214

GM

$3,390

-8.3%

7.1%

$     797,148,439

Honda

$1,724

9.9%

-30.7%

$     222,475,168

Hyundai/Kia

$1,424

5.4%

12.8%

$     147,076,304

Nissan

$2,555

-10.4%

4.8%

$     259,442,461

Toyota

$1,465

-8.8%

-13.7%

$     276,778,634

Volkswagen Group

$2,573

-3.7%

2.6%

$     127,818,956

Industry

$2,466

-5.3%

0.9%

$ 3,220,527,279

 

"Automakers were able to increase sales this month while keeping incentive spending relatively flat thanks to more favorable market conditions," said Kristen Andersson, analyst for TrueCar.com. "Toyota experienced the largest drop bringing their incentive spending levels to the lowest in almost two years." 

TrueCar.com bases its forecast on actual transaction data.  The transaction data based forecast is refined by other current and historical factors that impact vehicle sales, including  sales, inventory, incentives, fuel prices, and macro economic data (major stock market indexes, consumer confidence, new home starts and CPI).  TrueCar.com does not adjust for selling days in year-over-year percentage change calculations.

*Used car sales figures include sales from franchise dealerships, independent dealerships and private party sales

About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers.  As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area.  TrueCar also owns ALG, the benchmark for vehicle value information in the auto industry and has been forecasting residual values for nearly 50 years in the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles and analyzes car-buying information unlike anybody in the industry. Since its founding in 2005, TrueCar dealer partners have sold over 700,000 vehicles across the country. Its national network of nearly 6,000 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

Disclaimer
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only.  TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including without limitation, the implied warranty of merchantability, fitness for a particular purpose and non-infringement.  The information contained in this press release may include technical inaccuracies or typographical errors.  Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation, lost revenues or lost profits arising from or in connection with your use or reliance on the information presented in this press release.

SOURCE TrueCar, Inc.



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